Asheville and Black Mountain, NC
How did you hear about Slow Money NC? Met Carol on Linkedin
Tell us your story. What is your business idea? Tell us your plan. Feel free to get into the details. I am setting up a Hemp Farm in Western NC, seeking Farm Investors that are used to long term money, get regenerative with their funding Hemp Industry. We have experienced Growers and a team of Legal, Execs and connected to a Marketplace that buys and sells Product from us.
Please briefly describe your commitment to sustainable food systems in North Carolina. I have been in sustainability for a 12 yrs, we are committed to doing all organic plants, the least amount of plastics and using organic material to grow all our Hemp.
What will your sales be? What do you anticipate your profits/your margins will look like? How will you make the money to pay this loan back? We have a few major brokers,buyers,brands and a marketplace that will buy all of our product. We can pay back sooner than most farms because of the Value of Hemp.
Have you borrowed money before? How much did you borrow? From where? How long was the term? Is there a balance still due on that loan? For other businesses we used some loans but mainly had equity partners in the $10-25K range, but not for this one.
Do you have people who would vouch for your credit worthiness? Who are they? Yes, my past Co-Founders and business partners in other ventures.
Tell us about your business background. Have you been in business before? I have been an entrepreneur for 20+ yrs producing 300 events over 12 years, then got into Conferences, Marketing Natural Foods for 5 yrs, Solar for 7 yrs and Finance for 3 yrs. I have started alot of businesses with many different partners and have grown slowly and steadily through personal experience and lived throughout the US in 5-10 places.
Are there other lenders involved in your project or business? There is a co-signer and co-founder willing to put up his 800 Credit Score as well as the CEO who has a 700 Credit Score and owns 3 other active businesses.
What is your timeline for this project? Would you like it to start in a month? 6 months? A year? We are looking to start very soon and in the process of raising this money from multiple sources.
Is there anything else we forgot to ask you?: I sent over a PDF doc about the Company and Finances.