Pete Wilson
New Orleans, LA (USA)
Role(s):
Manager/Supervisor
Private
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Startup
Location:
New Orleans
Industry:
Finance
Year Founded:
2001
Number Employees:
1-10 people
Description:
It is a Used Auto Dealer/Floor Plan Company. The rate of return would be 12% Per year. We raise money from investors and pay them 12% a year on their funds. We turn out and loan it out to other dealers for a fee that is due each month from the dealers. For example every 100k we loan out we charge 2500 a month and also use their inventory for colleteral. Since we are also a licensed dealer if they default on it we pick up the inventory and either resell it or send it to a auction and get the cash back and turn around and loan it to someone else. It is a safe and simple deal.