FOTCM Small Business Loan/Support

GqSoul

Jedi
Hi GqSoul,

Well there are others who’re better equipped to answer this question, but the fact is that while FOTCM has a financial aspect to it, it is not a financial institution set up legally and logistically to provide loans for small businesses or individuals.

That would turn it into a for profit organization and it would become an entirely different thing, a FOTCM bank of sorts. Being that this isn’t the case then I’m not sure if your request is going to get you anywhere.

Have you tried your options elsewhere in the market? I’m sure there’s a plethora of institutions willing to loan you the money at an affordable rate.

And from what I understood, the provisions provided for members’ support are made in a charitable manner for members in dire straits and in need. As you can see there’s a difference between, for example, “I can no longer afford medicine for my I’ll father” and “I want to start a business, can you loan me some money?”

I hope the above makes sense.
Yes, it makes absolute sense. That wasn't my understanding when I asked, but I also had not taken the time to reacquaint myself with the particulars as I could have. Thanks.
 

jhonny

Jedi Council Member
FOTCM Member
GqSoul.
From what I have read in your posts here and another thread, I realise that you should get back on track towards "the work" and our goals in this forum. I mean, trying hard to help others without asking anything in return.
I wonder whether you have read carefully the forum guidelines or some of the recommended books? I think that's a good way to start.
Also, like others have suggested, through actively participating in this forum you can give and receive feedback, BUT It is not only about you.
 

GqSoul

Jedi
GqSoul.
From what I have read in your posts here and another thread, I realise that you should get back on track towards "the work" and our goals in this forum. I mean, trying hard to help others without asking anything in return.
I wonder whether you have read carefully the forum guidelines or some of the recommended books? I think that's a good way to start.
Also, like others have suggested, through actively participating in this forum you can give and receive feedback, BUT It is not only about you.
Thank you Jhonny. I downloaded the statement of principles yesterday to study again, realizing that I've been disconnected. I do want to give without expecting or asking.

Recently, I felt myself in crisis and acted selfishly. I want to make sure it doesn't happen again.
 

adam7117

Jedi Master
FOTCM Member
Hi GqSoul. I am curious - what was the business idea you had in mind? Perhaps, you could share with the rest of us what the money is for.

This could help you clarify the thoughts before applying for a loan at the local bank. Do you need help with a business plan?
 

GqSoul

Jedi
Hi GqSoul. I am curious - what was the business idea you had in mind? Perhaps, you could share with the rest of us what the money is for.

This could help you clarify the thoughts before applying for a loan at the local bank. Do you need help with a business plan?
Thanks for offering to help, but the business plan and loan aren't really the root problem. I've been reconnecting here to help get at those issues. When I made the initial inquiry, I was in a panicked state; a large contract that I was counting on fell through at the last moment. Not having it meant the difference between being able to build towards financial stability for my family versus facing eviction.

When we set out on the business venture, I didn't do what I could have to ensure a sufficient buffer to absorb those kinds of losses and I put my family in a compromised position. So now in the aftermath, I'm working to identify and address the patterns that led me here so I can avoid them in the future.
 

Renaissance

Ambassador
Ambassador
FOTCM Member
When we set out on the business venture, I didn't do what I could have to ensure a sufficient buffer to absorb those kinds of losses and I put my family in a compromised position. So now in the aftermath, I'm working to identify and address the patterns that led me here so I can avoid them in the future.
You might check out Dave Ramsey on youtube or his financial courses on CDs. He has a Christian background, and applies it in his program, but don't let that get in the way. I think it actually provides value to the way he looks at finances. He looks mostly at personal finances, but it easily extends to the running of a business too.

Here's the video that got me into his material:

 
You might check out Dave Ramsey on youtube or his financial courses on CDs. He has a Christian background, and applies it in his program, but don't let that get in the way. I think it actually provides value to the way he looks at finances. He looks mostly at personal finances, but it easily extends to the running of a business too.

Here's the video that got me into his material:

I am watching this now. I love how he goes from the preppy, positive welcome to the caller to the blunt, down to earth and real approach :lol: . I had issues with debt myself after my Breakdown so I would not wish that on anyone but the debts this couple have to deal with is terrifying to contemplate. It is making me anxious just watching this! I hope they take his advice and get their acts together!
 

Renaissance

Ambassador
Ambassador
FOTCM Member
I am watching this now. I love how he goes from the preppy, positive welcome to the caller to the blunt, down to earth and real approach :lol: . I had issues with debt myself after my Breakdown so I would not wish that on anyone but the debts this couple have to deal with is terrifying to contemplate. It is making me anxious just watching this! I hope they take his advice and get their acts together!
He's said in the past that he used to hammer everyone equally hard when he first started, but now he goes adjusts based on where the person is at. In any case, I like how he uses "shocks to the system" so people can "crush" the things inside us all that have essentially created chaos. It's pretty much the same way the Work is done here. Use harsh but needed truths to look at how our narcissism/ self importance/ self image has been destructive to our lives.
 
He's said in the past that he used to hammer everyone equally hard when he first started, but now he goes adjusts based on where the person is at. In any case, I like how he uses "shocks to the system" so people can "crush" the things inside us all that have essentially created chaos. It's pretty much the same way the Work is done here. Use harsh but needed truths to look at how our narcissism/ self importance/ self image has been destructive to our lives.
That's interesting. I wonder if he was projecting initially given how he had his own issues with debt? In any case, the lady in the video you linked certainly needed that shock to the system! It was almost painful to hear the change in her voice when he started laying into her. I hope the couple concerned really get the message. I lived with debt for years until I finally cleared it. I lived that meagre lifestyle he spoke of. It was tough but once I adjusted it was fine. It's amazing how simply and humbly one may live if one has to.
 

herondancer

The Living Force
FOTCM Member
Yep, Ramsey really laid into her (and him), and deservedly so, but he managed to sprinkle some backhanded encouragement and even a little humor into his talk. Leaving her a quivering mass on the floor wouldn't have done any good. So some quick practical moves (sell the condo, possible one car), the hint that a second job would be good. It sounded like he was giving them a quick overview, but since it sounded like they had signed up for his program, they would be getting more detailed advice later on. I liked that he encouraged them to look at the situation as a way of improving both their relationship and themselves as people. It's a higher goal than just getting out of debt. Hope they make it.
 

lainey

The Living Force
FOTCM Member
Wow, I really liked his approach. I don't think it was too harsh at all, it really needed to be said and that couple needed a wake up call. You could kinda see her trying to minimize the situation a bit by splitting the amounts up when he faced her with the total amount of their personal debt, but really that amount was just crazy!
He said they would live a minimal lifestyle for about 3 years, which isn't that long a time. I'm sure, GqSoul , that you could apply the same technique to your own life and get yourself out of the situation you are in now.
Maybe you could sit down and write out all of your spending so you can be faced with the full amount for your own household and give yourself a shock like the lady in the video.
 
I lived a meagre lifestyle for about ten years so it's entirely possible. I don't exactly live high on the hog now. I have a roof over my head, clothes on my back and enough money to buy food for my belly and enough money coming in regularly to pay my rent and utility bills. I treat myself to the odd non-essential item but otherwise, I live very simply. I like it like this. I enjoy the simple gifts of life: the feel of sunshine on my skin, the caress of the breeze, the waft of fresh air from an open window, the affection from my two baby boys (cats) and so on. Being mega-rich would freak me out. Living simply suits me far better. Having said that, however, living under the pressure of debt is no fun and I would not wish that on anyone!
 

GqSoul

Jedi
You might check out Dave Ramsey on youtube or his financial courses on CDs. He has a Christian background, and applies it in his program, but don't let that get in the way. I think it actually provides value to the way he looks at finances. He looks mostly at personal finances, but it easily extends to the running of a business too.

Here's the video that got me into his material:

If you hadn't suggested it, I probably wouldn't have checked Ramsey out on my own, so thanks for that. I've been aware of him but never followed any of his stuff. The approach of his program is similar to something we did early in our relationship. It really helped to build some good habits, but I think the "shock and awe" of his approach is what I need now to tighten things up.

We're naturally inclined to live very frugally, so that helps. The liability I'm trying to work out is avoiding overestimating myself when considering pivotal financial decisions. Maybe moreso, considering the potential impact on those that depend on me rather than basing decisions on my own risk tolerance.

I brought some irresponsible debt into our marriage, but it was fairly easy to set right and I learned a lot from my wife's financial responsibility and habits. The root (or a principal one anyway) issue that has destabilized us financially is that I made a decision to leave a stable career, because of the struggle to reconcile the world of sales, "influence" and doing business in the STS realm without being contaminated or drifting into confluence with it.

This is still something I hope to work through here with greater clarity, but I've recognized the following about that past decision:

-I didn't plan a feasible exit strategy

-Once I jumped ship, I didn't immediately appreciate the REALITY of where my decision could lead, in the worst case scenario. If I had, it still would have been early enough to adopt a certain strategy.

-Part (most/all?) of why I left had much more to do with my own developmental challenges vs the STS/STO conceptualization that I used to justify jumping into my own virtual reality. I was escaping the lesson, and likely the best environment, to build up and sharpen myself. This wasn't clear to me immediately, or I wilfully ignored it.

So even though we manage money well in terms of our spending habits, my "well intentioned" persistence in delusion, misconceptualizations/errors in thinking about the work, and inattention to personal growth deficiencies compounded an already risky and precarious position. The margin for error was already razor thin.

I think it's well and good to run a business, but I've learned that the personal habits, psychological health and spiritual "hygiene" of the CEO is much more important than the business plan, branding, sales and marketing strategy. It's clear where I need to grow on that spectrum in order to best serve my family.

There are others here that excel as entrepreneurs, doubtlessly. That may well be in the cards for me some years hence, and I'll try to learn and share what I can along the way. For now, I'm blessed to have a hard decision between three job offers that will position me to right the ship and head True North.

So I've gone back in time, back to the environment that I left, but I can only make better decisions and avoid reliving the old cycle by learning to see and think through participating in this network.
 
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