A Big Dream

Chapter 35: The Banker and Crowdfunding

𝗦𝗮𝗻𝗱𝘆

Shaking hands with Mr. Ronald, Ben and I sit down on his office chairs. I run a random check on the presentation on my laptop. It covers all the details about the make-up of my hangar. Mr. Ronald is genuinely transparent in his interaction. He drives home the point that odds are high in lending a construction loan for such a project.

"Well, Sandy. This type of loan takes time depending on the viability of your project. You have presented all the facts and figures of your hangar model. I'm impressed."

He then adds,

"To your greater relief, I'm obliged to mention you that we also specialize in aviation financing. But, here's where the problem is. You are leasing the land from the airport. This is a bitter situation. Banks don't lend money to such initiatives. Do you get a nod from those airport authorities?"

"Yes, Sir. We have got it. But, the FAA has to approve it."

"Scanning through the pages of your bluebook, I can see that you have all the essential features. In fact, the structure is modern too." He comments.

"I'm glad you like it."

"Since this project involves tons of money, do you have any collateral to show us?" he asks us.

"I don't have the slightest idea how I'm going to produce a collateral."

"If you are applying for an equipment financing, we can take that as a collateral."

"Well, we have to think about it."

"Hmm... let me see what I can do for you," he calls a person with whom he discusses the matter.

"Well, Sandy. I try my best to sanction the loan for you."he declares.

"Thank you, Sir."

"Hmm... How is Kevin?"

"He is doing well."

"I'd like to spank his ass for being a lady charmer."

We both laugh at his remark and come out of the bank.

.....

As soon as I get home, I have a cup of coffee. I phone to Tassy. She says "Hello."

"Tassy, will you do me a favor?" I ask earnestly.

"Of course, Sandy."

"Yesterday, while doing a prep-up for my presentation, I came across a few tidbits about crowdfunding. Is there a possibility, I can pool enough capital for my project?"

"Yes, Sandy. There are various platforms that give you such services. In fact, I used this strategy for raising funds after the hurricane Katrina hit our city."

"Hmm... What about real estate crowdfunding?"

"I've come across it. Let me google it." She says.
"Ok, Tassy." She puts me on hold, and after a minute, she comes on line.

"Jeez, Sandy! The internet has loads of information about it. It says something about JOBS Act, a new bill passed for the benefit of entrepreneurs like you. Anyone can become an investor with an annual income of $100,000 or less."

"Hmm.... Quite interesting."

"You can pool in a maximum of $1 million in a year. But, the amount comes to your hand only after the total amount is funded. For instance, if you ask for 500 bucks, you can get it unless it's less than 500 bucks."

"Hmmm..."

"What's your hangar budget?" She questions.

"It's nearly $4 million, including operating and maintenance costs." I reply.

"That's a huge sum." She gasps.

"Yeah. But, can I crowdfund to downpay a bank loan alone." I'm doubtful.

"Of course, Sandy. What have you decided to give funders in return for money?"

"Well, I can't give them rewards. May be, equity."

"Aren't you scared of buyouts?"

"Nope. I'm positive about my future, especially with you."

"C'mon, Sandy! Stop being childish."

"I'm not. You are the one who acts like a child."

"Well, I need to go out," She is pissed off.

"Ok, Tassy. Good night."

"Good night," She tells me and hangs up the phone.