(Re-list) Expanding Restaurant
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 48% |
| Lender Rate: | 18% | Borrower: | lucyincelina |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Top Borrowers Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-03-16 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Mar 16, 2007 | Current |
| Sep 01, 2008 | Late |
| Sep 18, 2008 | 1 month late |
| Sep 19, 2008 | Current |
|
I own a restaurant in Collin County, Texas. The restaurant has 12 tables and seats approximately 60 people. Since opening, the sales have increased three thousand a week due to excellent service and great food. The only advertising that I rely on is word of mouth. The restaurant brings in $40,000 a month and I believe by expanding and adding a bar, I could increase sales by at least 20%. I employ 21 people, with 5 of them being family members. My parents opened the restaurant in October of 2004, and I took over ownership in December of 2006. My debt to income ratio is so high because I have had to personally guarantee several services for the running of the business. I do have the one delinquency showing on my report, even though I have tried several times to have it removed as it has been paid. My monthly expenditures are as follows: Rent: $800.00 Phone: $200.00 Electricity: $1100.00 Gas: $300.00 Food Cost: $ 12,800.00 Payroll: $8,800.00 Insurance: $250.00 Water: $180.00 Taxes: $4,000.00 As you can see I can more than afford this loan. Thank you for reviewing my loan request, and if you have any questions, please feel free to email me. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 94578 | expanding restaurant | C | $25,000 @ 10% | Feb 07, 2007 | Expired |
| 101706 | Expanding Restaurant | C | $25,000 @ 24% | Feb 20, 2007 | Expired |
| 285226 | Need Additional Funds | HR | $6,000 @ 17% | Feb 27, 2008 | Withdrawn |
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