It's time to make the call op

you too!

folks are being wayyy too harsh on OP I'd gladly let one of my best/close friends borrow $3k if they really needed it too.

sounds like he realized that the dropshipping s*** did not pan out and is too embarrassed/prideful about losing the money. I'd just have a direct heart-to-heart about it

@Beemo if he don’t return your money this week imma shoot him

Let my friend borrow 2k and it’s been like 7 years. Bro you ain’t getting it back

if it makes you feel any better @op I bought an NFT for 1 eth and regret it fully

3 months isn't a long time when you're talking about a start up business @op

You are being impatient. I would give at least a year, but that's a minimum. Let that man work bruh. It takes a lot to learn how to do a business. You sweating him isn't doing anything but causing strife on both sides and hindering the process.

If we being real, he should've asked for more than $3000 but if he hadn't started the business yet, he's not gonna realize that $3K really isn't anything at all when it comes to starting a business. Like that s*** literally can field some of your operating expenses but he's gonna be far off from revenue still.

What you should do (or should have done) is negotiate ownership in the business and then let him go do his thing. You gave him some start-up capital. But nah one thing you need to stop doing ASAP is hounding that man for money, especially after like a month.

Why

Yea tbh I doubt the friend is shady and not paying him back. Something probably went wrong or going slow on his end and he’s got too much pride to confront him about it

And this situation aside, definitely don't give someone $3000 if you're gonna need that s*** back in a month or few. You can't afford to lend that type of money in that case, or you're just being hyper unreasonable about the timeframe that you'll be getting the money back.

If you give someone $3000, he's gonna need to at least flip that into $10000 or $12000 at a bare minimum before he can give that $3000.
You playing yourself. First off if he flips that $3K into $12K, he still needs that 3 because his business just quadrupled in size. He isn't making enough to give 25% to someone who isn't investing more into the project, even if it is an initial loaner.

Second, if he makes $12K then look how his business is growing. You might as well let that s*** keep growing so you can have a bigger return on your investment rather than sweating that funky $3K that you could afford to let go of anyway

I explained it earlier in the thread but he said he would be able to return in a month. I didn’t bother him and didn’t hit him up until nearly 2 months later. He made it sound like he had a product in mind already that would be an “easy flip” and all he needed was money for influencers, Shopify store, the product etc but like the some of the thread said he’s having business issues and doesn’t want to admit it

I texted him yesterday and I told him to just be upfront with me and yeah it’s not as easy as he thought and he told me he would pay me next week but even I doubt that. In the end i think I’ll get it back just not as soon as he told me. If he told me “this will likely take 6 months to a year” I wouldn’t be dogging him but he told me a month lol

ima give ur friend the benefit of the doubt and assume he doesnt have the money which is why he cant pay you back.. but if so, he should just tell you instead of avoiding you

Na nigga be sensible

then have a convo about how the business is going, if theres a shot you can get your 3000k back plus maybe more, ride it out and give him 6 months or whatever

u need the 3k back right away? asap?

You got money to lent 3k durin a pandemic in this economy? Have ya even graduated college yet fam @op man asked you for basically the amount of stimulus package we got from the government for a whole YEAR.

That makes sense. Not knowing what all the business venture entails, he probably thought he could get it back to you in a month.

But like I said, that's just inexperience--he don't even know what all goes into making revenue from a business. Like think of it like this--even if he flipped that $3K to $5K, and gave you back 3, well now he's back to needing to borrow another $1K just to do what he did before.

You need a bare bones all Falls down minimum of $12K to pay back $3K. But neither you knew that or him. So take that as a lesson as a loaner... niggas not gonna be able to pay a loan back in 3 months bruh. If you loan someone bread, especially for a startup venture... as a loaner bro you gotta at least give these dudes a year or two to recoup at a minimum. You have to. Even billion dollar start ups are allotted years before they start making profit.

But also as a loaner, you can't write your friend off as "if he was being honest". Nah he was honest. Using what he knew, he thought he could get you back in a month. And you can't fault him for that, cus you gave him the bread thinking he could get you back in a month. Both of y'all learned that it's not reasonable to even think that was possible.

Trust me bruh, I know. I needed to borrow $2K to run an event for my business a few years ago. I thought once we got that bread and ran that event, we'd be off to the races. But bruh the event was highly successful and we still took a loss on it. So that's how I learned $2K was the bare minimum just to run a event at a loss for my business, far far FAR from what I need as a start up capital to run the actual business. But that's how I found out, like y'all are doing now.

But I'm still saying, you gotta leave this nigga alone about the money. Like he's your friend. And he knows you f*** with him so hard you'll give him $3K to run his business. He not tryna let you or himself down. But when you talk to him about the money, you're pressurizing this man. The reason he telling you he'll get it back in a month (he won't) is cus you making it seem urgent. He had to borrow $3000. So how's he gonna get $3000 to pay you back? By borrowing from someone else? You literally not doing anything but pressurizing by talking about that s*** at all.

Even if you say 6 months. Cus look, if he just found out he needs more than $3000 to run the business, if you're telling him you need your $3000 back, you're basically demanding this nigga to pack up the dream. Cus even if he makes $3000, instead of investing it into the business, you tryna tell him he needs to give it to you. So you are really pressurizing him in a lot more ways than you realize, when he's trying to strategize and figure out how to make this business profitable now that he's more educated on how the whole thing goes.

This dude isn't gonna forget you loaned him money or that he's your friend. But you can't forget that s*** either bruh. Like literally, you gotta let that s*** die and let this man cook, unless you're gonna invest more money into the business or if you're gonna be a partner and actively work with him towards making the business profitable. But if you're not doing either of those things, you're just becoming a blockade. Trust in that man. You're good. Humbly speaking, you sweating the money far too much.

And this is the last thing--cus I don't wanna make it seem like I'm beating you into the ground cus I'm not. You my nigga on here, so I'm just trying to speak honestly and helpfully.

Yeah. If a dude asks for $3000 to start a business venture... bruh you have to know, that $3000 is not enough to fund a business venture on any level. The fact that one would even think that should tell you immediately that they're inexperienced and they're find out how minimal $3K is in a business sense.

So if a dude asks for $3K for a business venture, you need to tell him that he needs to borrow way more than that--a minimum $10K (never go below this number for a business venture). Or you need to sign up as a continual investor, meaning you'll provide more funds as needed as the business continues on, or you need to say "sure I'll give you this $3K, but I need x percentage of the business ownership" and then leave it alone, not asking or expecting that loaned $3K back. And sign a contract for that, too, so you can have documentation of how much percentage of the business you own and can liquidify if needed.

I would also have them boys present to you a business plan for you to review and approve.

Sounds like a lot? Aye well this is what it is when you get involved in a business loan. This isn't a personal loan--and if it is, you don't give personal loans for business ventures. Why? Cus of this thread right here.

I've had longtime friends cut me off to not pay back $60 before

Thats a different perspective I can see that.

I've never ran a business before and I knew complications could happen but I get it. I guess its just the radio silence that bothers me. I only get updates when I hit him up never the other way around. I don't need the money back anytime soon but at the same time I cant just let a nigga think he can just take 3k from me and I just let it slide for months you know? Just wish he would communicate a little more after the fact.

Been texting him a little bit more just to keep me informed and yeah I doubt he'll actually pay me back next week and he'll likely just spot me a few hundred till he can recover the rest but I see where you coming from.

I just gotta stop loaning niggas money tbh I always do this if they take too long but at the same time I'm too nice and dont wanna say no and not help out

I'll keep it in mind and try to be more chill about it cause like I said he's always paid me back before its just 3k is a lot dawg lol