Business Venture
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 7% |
| Lender Rate: | 8% | Borrower: | TEAMCoach |
| Finished | State: | WI | |
| Funded: | 100% | Group: | AA 5 Star Lenders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-02-28 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Feb 28, 2007 | Current |
| Mar 23, 2007 | Payoff in progress |
| Mar 29, 2007 | Paid |
|
Hello everyone, and thank you for considering my listing! My name is Jeff, and I?m a happily married father of one, in the process of starting up my own mortgage business. I was recently severed from my employer in a corporate restructure and their removal of the local branch I was managing for them for the last 2 years. I am using this newfound opportunity to pursue my dream of being my own boss and running my own mortgage branch, while providing employment for the top producers from my former office. I am pursuing a loan on Prosper to help spread out some of the initial startup costs associated with this new venture. I have been able to obtain several great financing deals from local retailers and with business credit cards, but am also looking for a 3 year Prosper loan of $5,000, to be used as follows: $1,000 to reinvest in Prosper. I have been a lender for 2 months, with 18 loans funded, mostly to D, E, and HR borrowers. Every one of these loans is current, and I?m sure my funds are helping out as I had hoped they would. $6,000 to use for startup costs, primarily associated with buying leads from online sources. Most of the contracts will run for 2-3 months, but I must front the cost at the beginning. One of my two new business credit cards is 0% for 12 months, but I?m looking to spread that out more if I can. We?ll be profitable very quickly in this business, as the startup is minimal compared to the return on investment I can expect. My bank is offering me right above prime, around 9%, for a startup loan. I?m hoping to do a little better here, while helping people earn some interest on their investment. Depending on the final interest rate, I may pay this loan down or off early, but I also might pay the minimums for awhile, so I can continually invest in the growth of my business. If this business doesn?t work out, I will make good on all my debts. I have never missed a payment on anything in my life, and I don?t plan to start now. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 63672 | Testing the waters - lending out in Prosper when funded | AA | $2,000 @ 6% | Nov 18, 2006 | Withdrawn |
| 65037 | Prosper to Prosper | AA | $2,500 @ 5% | Nov 21, 2006 | Withdrawn |
| 94403 | Business Venture - Capital Funds Request | AA | $7,000 @ 8% | Feb 06, 2007 | Withdrawn |
| 193834 | Passport to Wealth Investment - Hoping to Prosper! | AA | $2,500 @ 9% | Aug 28, 2007 | Withdrawn |
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