New Business!Relisted@Higher RT. 65% last try

Click Here to view this listing on Prosper
Listing Information
Amount: $20,000.00 Status: Loan created
Grade: B DTI: 32%
Lender Rate: 16% Borrower: F4MILYM4N
Time Left: Finished State: GA
Funded: 100% Group: BORROWERS - Free instant Listings - LARGEST GROUP
Loan Information
Loan Status: Current Origination Date: 2007-03-27 EricsCC ROI: 11%
Status History
Mar 27, 2007 Current
I'm a family man working hard for my family. I have three kids with big wish lists and a wife of 12 years. I know what my responsibilities are. I have always been a good payer and never put myself in a position where I am at risk. I do live within my means. Just would like the quality of life to be better for my family.
My credit score isn't perfect yet as I have to build a credit history (not through bad decisions or bad payments, just had to start from fresh). The credit that I have now has been with no late payments. I am a good payer.
Now I am looking for this money to start my own business in the trucking industry. I already have funding for this but the interest rate scared the hell out of me, and I found out last week they want to charge me $2500 in a prepaid charge. I have a contract already in place to start as soon as the truck has been purchased.I currently earn on average $4493 a MTH (gross). My potential earning having my own business is $5000+ a WK (gross). I have been with my current employer for about 2 months but I worked for another trucking company before that. I moved companies for two reason 1st I wanted to be home at weekends with my family and second the money was better. Owning my own truck could make my earnings exceed by much more and still be home at the weekend with my family!
My Wife is a stay at home Mom but is in the process of becoming a broker so she can broker the work out to me and other truck drivers. Its also something she can do from home and still be with our children.

Outgoing are:
Car payment: $526.25
Insurance: $71.00
Loan: $217.63
Credit Card: $13.00 (final payment)
Utilities: $200.00
Food & Misc: $600

Total: $1614.88

Bid with confidence
Ian  

On my previous listing there were some good questions asked so I have copy and pasted them below:  

Q: I dont see rent or mortgage in your monthly expenses. Can you explain your monthly expenses in more detail? -FlakeyJake
A: We live with my mother-in-law as she is Disabled She worked for the Foreign Service (US Embassy) for 17 years and has a good pension and disability benefits. We live here and my wife gives her mother 24 hour care (as she is unable to live alone). We contribute to the bills. As this is all she will except for our help. So we have no rent or mortgage payments Thanks. Ian (Mar-08-2007)
Q: Your credit history is short, and from your picture & listing you're likely an adult past the age of 18-21. (Typical age for establishing credit.) Can you explain why? -StaciM
A: lol StaciM yes i am past 18-21 but still feel like i am 21 but to answer your question my credit history is short because ... I am from England my wife is from the States. We returned to the US 3 years ago, due to my mother-in-law becoming disabled. Which is why we are starting fresh building a credit history. Which is in good condition with all payment on time. (Mar-08-2007)
Q: Can you be more specific - will you be dispatching or buying a truck to drive or what ? Will you be quitting your present job to start this business and how realistic is the potential income from the business and is that net or gross? Thank -txconsin
A: I will buying the truck to drive (OTR). Yes, I will be quiting my current job as i already have a contract. The potential income is VERY realistic! Infact i was modest on the potential earnings. I have a friend that has the same contract and he averages $5000 and even more some weeks and home weekends. Also in the near future my wife will become a broker so we can broker our own loads. And I intend to have 5 trucks on the road in five years. Thx! you asked good questions there. (Mar-14-2007)
Borrower's Other Listings
106422 Starting Business Lowering Current Rate B $20,000 @ 16% Mar 05, 2007 Withdrawn
108348 Start a New Business(relisted ) B $20,000 @ 19% Mar 08, 2007 Expired
111647 New Business! Relisted@Higher RT. 65% last try. B $20,000 @ 19% Mar 15, 2007 Withdrawn
278897 New Home Purchase 2nd loan with prosper D $9,400 @ 29% Feb 12, 2008 Expired

 

Discussion For This Listing
View Recently Discussed Listings »

No Comments Found For This Listing

Post A Comment
You must be logged in to post comments on listings. Not yet a member? register here