
0
Backers
US$0.00
Donated of $80,000.00
0% Funded
Raised offline
$100.00
Total
$100.00
First of all, I would like to apologize to you donors here due to the anonymity of the story here - I did not want to call out the names of the family I'm raising funds for. The basic reason being they might not be interested in accepting the funds if they knew about this. I have been able to help them on and off, but funds to eliminate their existential debts is something huge for me. Moreover, I would also like them to get back on their own toes coming out of this financial crisis.
There was a situation last year in this family where they had to end the lease of the property in which they were running their small scale business. Now, they had no other option but to purchase another property to continue their business. They did find a place - for which they paid off few pending tax bills [owed by someone else] and converted this piece of property into the good books of the Government's regulating authority; this would then help them to use this land as good source to secure funds through commercial banks and be back on business. Now after a lot of struggle through bank's process, the bank loans were denied citing the reasons of bad reputation history of the property for which they did clear pending bills.
They did borrow some amount from other creditors to settle business partner's dues in addition to the past bank loans, which was part of operational funds for the business in its previous year.
Now, they have become defaulted loans due to lack of income. So, they are forced to repay that at the earliest - otherwise it would lead to losing their home, which was used as collateral.
In order to help this good family, I request you to offer your help so that it could be helpful for them to repay the loans, and secure their living by diving back into their business.
While I maintain the anonymity, I assure that I could give you good assurance that these funds would just be used for the said purpose and I shall keep you posted for the updates periodically.
First of all, I would like to apologize to you donors here due to the anonymity of the story here - I did not want to call out the names of the family I'm raising funds for. The basic reason being they might not be interested in accepting the funds if they knew about this. I have been able to help them on and off, but funds to eliminate their existential debts is something huge for me. Moreover, I would also like them to get back on their own toes coming out of this financial crisis.
There was a situation last year in this family where they had to end the lease of the property in which they were running their small scale business. Now, they had no other option but to purchase another property to continue their business. They did find a place - for which they paid off few pending tax bills [owed by someone else] and converted this piece of property into the good books of the Government's regulating authority; this would then help them to use this land as good source to secure funds through commercial banks and be back on business. Now after a lot of struggle through bank's process, the bank loans were denied citing the reasons of bad reputation history of the property for which they did clear pending bills.
They did borrow some amount from other creditors to settle business partner's dues in addition to the past bank loans, which was part of operational funds for the business in its previous year.
Now, they have become defaulted loans due to lack of income. So, they are forced to repay that at the earliest - otherwise it would lead to losing their home, which was used as collateral.
In order to help this good family, I request you to offer your help so that it could be helpful for them to repay the loans, and secure their living by diving back into their business.
While I maintain the anonymity, I assure that I could give you good assurance that these funds would just be used for the said purpose and I shall keep you posted for the updates periodically.
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Help a family overcome the tough debt pile
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First of all, I would like to apologize to you. . . . .
0% funded |
$0 donated |
Expired Oct 31, 2018 |
Help a family overcome the tough debt pile
by Name Hidden
First of all, I would like to apologize to you. . . . .
0% funded |
$0 donated |
Expired Oct 31, 2018 |