Hey You Cheerleaders, When Do You Think There Will Be A Major Financing Announcement?

[Rickb]

Really, more like the way it was 20 years ago. Proving worthy of the loan used to be part of getting it, and it needs to be. I am surprised that your current lender put you through all that. Bankers are under lots of scrutiny right now, I am sure.

The banks don't have the option. The lending officer at our bank said it was a Federal requirement to do so. Banks apparently aren't good at self regulation either.

 

[Horn]

Horn, sfu - St. Francis University. But, anyways, the new package for financing was indeed announced within a week, just as PE said it would be. I am disappointed because it isn't what I dreamed it would be, but happy at the same time. Prayers for it to work. I'm just glad I am not in charge of this dream. Just sitting in the back seat and enjoying the ride.

Oh you are talking about how they are offering to people who can pay $15,000? That is going to take way too long. Selling the equipment hasn't gone that well, heck it will be 10 years before they get the funds.

I'm not saying they aren't trying, I'm just saying it isn't working.

My main point is they have to get significant funding before they can even think about production.

Isn't their selling price based on 250k cars sold the first year?! That is ridiculously optimistic for first year sales. Will be nowhere close to that.

I just don't get the whole release date. There is no way they can effectively give a date or range.
That would be like me saying that I'm going to buy a new house in a year, but I only have 5 dollars saved up only work one day a month.

Really as of right now, I don't see how it can be produced. It will not be made in 2016. Im not bashing it, I would buy one, but I look at things straight forward.

A significant increase in funding is needed ASAP.

 

[Rickb]

Oh you are talking about how they are offering to people who can pay $15,000? That is going to take way too long. Selling the equipment hasn't gone that well, heck it will be 10 years before they get the funds.

I'm not saying they aren't trying, I'm just saying it isn't working.

My main point is they have to get significant funding before they can even think about production.

Isn't their selling price based on 250k cars sold the first year?! That is ridiculously optimistic for first year sales. Will be nowhere close to that.

I just don't get the whole release date. There is no way they can effectively give a date or range.
That would be like me saying that I'm going to buy a new house in a year, but I only have 5 dollars saved up only work one day a month.

Really as of right now, I don't see how it can be produced. It will not be made in 2016. Im not bashing it, I would buy one, but I look at things straight forward.

A significant increase in funding is needed ASAP.

EM could get the necessary funding for production from a single funding source like the ATVM Loan Approval. The big question is even if the funding happens in the next 2-3 months is there adequate time to get what needs to be done to insure a fleet tested, safe, parts ready, quality built, ready to roll Elio by the mid 2016 deadline? That is a very tight timeline. Although, Caddo Parrish would be likely to grant EM another short extension if EM had met the obligation of hiring for the promised 1500 jobs and was close enough to the finish line.

 

[Horn]

EM could get the necessary funding for production from a single funding source like the ATVM Loan Approval.

Yes that would be huge....but it's not going to happen. How long have they been trying?

 

[RUCRAYZE]

LOL, funny you guys and gals are talking about how long it took you to get a loan.....back in 2008, my gal and I went into a Bank of America branch and applied for a refinance loan. Ten (10) minutes later we were approved. Self-employed, no request for proof-of-income, they just checked and found a super credit score, and we were done. Two days later the house was appraised, two days after that the bank put the money in our account. Scary....

Not to feel that you were special, that year, with a pulse you got a loan-lol

 

[Rickb]

Yes that would be huge....but it's not going to happen. How long have they been trying?

The DOE ATVM just recently came to life after a long period of dormancy. We should hear about EM's application, one way or the other,anytime soon now. The sooner the better.

 

[Rickb]

Not to feel that you were special, that year, with a pulse you got a loan-lol

A pulse with collateral. lol

 

[Johnapool]

Not to feel that you were special, that year, with a pulse you got a loan-lol

Absolutely! Although, I WAS pretty special that year.......LOL....

 

[Thomas L. Buyea]

Hang in there. Friday is coming. And one will follow every 7 days after it. GO ELIO !!! Hey, did you see the question about running the oil out of the test engine was answered at St. Francis in PA? Elioowners got a plug. GO ELIO !!!

I just watched that video but I could not make sense out of that part ?
Why run the engine out of oil ?
It will sieze or throw a rod from no main bearing bearings.

 

[Thomas L. Buyea]

You're right.
That probably was unfair on my part.
But the issue is that you understand the hoops you had to jump through in proving your income and ability to pay back the money.
Now think how much harder it would be if your were trying to get financial backing for a dream.
Even if it is shared by thousands of others.

Pay back the government ? I don't think anybody ever does that ?