Thriving Business Expansion
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 18% |
| Lender Rate: | 14% | Borrower: | pampell1 |
| Finished | State: | TX | |
| Funded: | 100% | Group: | FUTURE FINANCIAL FREEDOM |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-03-12 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Mar 10, 2007 | Current |
| Nov 02, 2007 | Payoff in progress |
| Nov 08, 2007 | Paid |
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My wife and I are in the process of expanding our privately owned business, SugarCubed Coffee. We are both employed full time for a Houston Law Firm with a combined verifiable income of over $200K. I have been in Management for over 10 years with direct experience in Marketing / Advertising. My wife is a Legal Consultant that reviews Real Estate Documents for the firm. Our secondary source of income is generated by our coffee shop. "SugarCubed Coffee can be described as a relaxed, yet professional environment that combines both a business and social setting while offering a premier choice of trendy consumables." We are opening an additional location to expand our exposure prior to franchising the business (scheduled for 2008). Short-term future location possibilities include Prosper, Clear Lake, and Angleton, TX. It is also expected that the revenue produced by each location will increase our individual income by a net $60K per year. The capital injection to date for this location is close to $83K, which has been paid via our Personal Savings and Checking Accounts. The borrowed money from Prosper will be used for inventory. Our credit scores are border-line B rating with a very low revolving debt ratio. (1) medical collection of $183 in 2000, and (1) shorted payoff of $221 in 2002 (resulting in charge-off), are the only infractions to a flawless credit history. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 94907 | Business Expansion | C | $25,000 @ 17% | Feb 07, 2007 | Withdrawn |
| 95870 | Business Expansion - 1 Year Payout | C | $25,000 @ 16% | Feb 09, 2007 | Expired |
| 101490 | Business Expansion - 1 Year Payout | C | $25,000 @ 17% | Feb 19, 2007 | Withdrawn |
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