Love of Motorcycles + Lending Club = TokyoMoto
Nansee Kim-Parker has loved motorcycles for as long as she can remember. When she and her motorcycle-mechanic husband started thinking about opening their own motorcycle repair shop in San Francisco, they determined that they’d need about $50,000 in capital to get their business off of the ground. Nansee dipped into her savings and borrowed money from friends and family, but still needed $20,000 to start her dream business.
She circulated her business plan to banks and potential investors, but she found that “in these times, banks aren’t lending, and it’s really hard to get funding especially if you are going to be a start-up.” Fortunately, Nansee found Lending Club and less than two weeks later she had a fully funded $20,000 3-year loan at 9.85%, providing her with the money she needed to launch TokyoMoto, which specializes in independent motorcycle repair for Japanese motorcycles and scooters.
Watch her story here:
Monday, July 18th, 2011 at 10:47 am