Eric's Credit Community

About me:  I am a senior product manager at a top 10 US bank.  I have my MBA and this will be my 6th year with my current employer.  I am also an entrepreneur.  I own one successful online business and am about to make another live.  These websites are set up with little overhead costs and I operate them in my free time. 

Plans for this loan:
-  Consolidate business debt from personal credit cards - $8,000
-  Fund direct mail campaign for new website (5,000 pieces) ? $2,100
-  Pay final payment for web development - $1,250
-  Support business costs for 9 to 12 months (Maint. Fees, Server rental, etc) ? Remainder

This loan will allow me to separate my business revenue and costs from my personal accounts.  My first website was more of a ?let?s see if I can do it?, so I was not concerned about mixing business and personal.  Now that it?s growing and I am preparing to make a new site live (target late April), I must pull business out of personal finance.

I currently own one website that created approx. $7,000 cash flow on revenues of $10,000 over the last 12 months, and growing.  I expect my new website to take approx. 9 months to have real revenue.

Income
Day job - $70,000/yr
Existing Business - $7,000Monthly Pay after Deductions - $3,000

Savings
Personal/401k - $25,000

Expenses per month
Mortgage - $770
Utilities - $300
Auto Insurance - $90
Auto Loan - $150 (also own another in full)

Amount already invested in new business
Website Build - $2,250
Server - $441
Mailing lists service - $1,800 (1 year)
Mailbox - $95
Other - $150

I have high hopes for this new business venture; I also know things happen.  This loan amount is not such that I cannot repay with my personal income.  This loan will allow me to separate business and personal and fund the business during the critical first 9 to 12 months.  Plus, it will allow me to take the tax benefits of interest expense since it is purely business related.