Quote Originally Posted by iplayfast View Post
I'm wondering how close the project is to completion. If 50K would put it over the top, and get it certified and delivered. (Why does a kit need to be certified?), then a small business loan would do the trick. He's got the customers, he's got the parts, just needs kits put together and shipped. If the updates are to be believed, all the hard R & D has been done.
I guess the problem is that a loan has to be repaid (unless you're David Boe, of course).

In this case the loan would essentially be so that Peachy could ship products that customers had already paid for - they wouldn't expect to actually make any more money. Where's the money to cover the loan going to come from? If there were 1000 other people anxiously lining up to pay $150 for a Peachy, just as soon as the existing orders were filled, then Peachy would have a pretty solid argument that they'd be able to pay back the loan shortly. As it is, however, a $50K loan would essentially be the bank handing $50K to Peachy backers with not much chance of seeing it again.