Bicycle Austin forum

pDahlberg@YBP

Member

Registered: 2009-05-19

Posts: 4

BIKE BONDS: Invest in the Yellow Bike Project!

After learning that our arrangement with the city will prevent us from taking out conventional loans, Yellow Bike is kicking off a micro-loan program to raise the rest of our projected construction costs.  We're asking anyone who supports YBP's mission and who has some cash in the bank to loan it out to YBP and literally build community in the form of the new YBP headquarters.  We'll repay your loan within 5 years, and, at 3% interest, give you a better deal than you can get in your savings account at the bank .  We need these funds to begin construction, possibly as soon as next month.  Put your money to a good use, then get it back - plus interest!

To learn more, visit www.austinyellowbike.org/microloan.htm where you can find details about the program, view a draft contract, and a webform where you can sign up to participate.  you'll also find past and current balance sheets that demonstrate our ability to repay these loans.  A Yellow Bike representative will contact you and arrange the signing of the contract and exchange of payment.  To keep our books as simple as possible, we're limiting these loans to a minimum of $1000.  If you'd like to help out, but can't swing a large enough loan at the moment, you can always make a smaller donation at www.austinyellowbike.org.  Thanks for your consideration, and please feel free to spread the word!

MichaelBluejay

Webmaster

From: Austin, TX

Registered: 2008-05-26

Posts: 1,466

Website

Re: BIKE BONDS: Invest in the Yellow Bike Project!

While this is an ancient thread, I'll post to note that YBP's plan of crowdsourcing the funding for their building was a success.  I was one of the lenders, and they paid me back in full and on time.  (Early, actually, if I recall.)