@DrJohn
Simple; it may be a personal risk, but does it have to be a personal risk for 100 innocent community members?
I say business loan SIMPLY because you can get a better interest rate and more favourable terms for a real business plan. Of course it's just as easy to get a loan at 9% for $6000 for the cost of the board, but wouldn't you rather it was 4%?
At a negotiated rate of 4% for 5000UKP, the cost of the loan is CHEAPER than asking users to "add a few percent because of PayPal" or so on.
If Edward wants to do this properly, and act like a charity or benevolent organisation, he should register as such first; at least then users can write off their donation from their taxes next year.
You know if you are dead serious about the project and are willing to add a tiny markup to each board for the mere purpose of covering project costs (rather than soliciting donations and then charging "cost"), I will happily back you up to a bank manager. As long as he gets his money back in a reasonable time, and as long as it costs us nothing, and if it costs the COMMUNITY nothing, what have you got to lose?
Neko |