Additional inventory for my well established retail store
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 34% |
| Lender Rate: | 18% | Borrower: | bandosaurus |
| Finished | State: | IN | |
| Funded: | 100% | Group: | Doc's Credit Community |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-05-17 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Jul 12, 2006 | Current |
| Aug 01, 2008 | Late |
| Aug 14, 2008 | Current |
| Sep 04, 2008 | Late |
| Sep 13, 2008 | Current |
| Oct 03, 2008 | Late |
| Oct 18, 2008 | 1 month late |
| Nov 18, 2008 | Late |
| Nov 19, 2008 | 1 month late |
| Dec 18, 2008 | 2 months late |
| Dec 31, 2008 | 1 month late |
| Jan 18, 2009 | 2 months late |
| Jan 30, 2009 | 1 month late |
| Feb 18, 2009 | 2 months late |
| Mar 06, 2009 | 1 month late |
| Mar 20, 2009 | 2 months late |
| Apr 01, 2009 | 1 month late |
| Apr 23, 2009 | 2 months late |
| Apr 30, 2009 | 1 month late |
| May 18, 2009 | 2 months late |
| Jun 03, 2009 | 1 month late |
| Jun 18, 2009 | 2 months late |
| Jul 02, 2009 | 1 month late |
| Jul 18, 2009 | 2 months late |
| Aug 18, 2009 | 3 months late |
| Aug 25, 2009 | Payoff in progress |
| Sep 05, 2009 | Paid |
|
Hi! I am the owner, with my brother, of a small retail skateboard shop in Indianapolis, called Gneiss Skateboards (it?s pronounced "nice"). We have been in business for almost 12 years at this location. You can check out our website at www.gneissskateboards.com. We don?t currently do any web sales, but I have been an ebay powerseller in the past (ebay id: bandosaurus, 3400+ feedback score w/100% positive). I?d like to use this Prosper loan to increase our store inventory. A $20,000 loan would allow us to more than double our current inventory. Lack of inventory depth has always limited our sales. This loan would no doubt transform our little shop into the best skate shop in the city! We haven?t always been a skate shop. When we started we were a hobby shop, selling models, trains, r/c cars, etc. We began selling skateboards about 5 years ago. Even though skateboards made up only a small part of our inventory they definitely generated the most interest. So last summer we increased our skateboard inventory by about $9000. This caused our sales of skate stuff to jump from $12K in 2004 to $37K in 2005. This was dramatic enough for us to decide to switch our store over to skateboards completely. Sales continue to grow and we are on pace already to do over $50K this year. You can see why we?d like to add another $20K worth of inventory. I doubt our skate sales would triple again as they did last year, but at least another $20K per year seems likely. At any rate, we would only need to see an increase of $25 per day to pay back the loan entirely from new sales. Specifically, we would like to greatly increase our stock of t-shirts, shoes, wheels and trucks (axles). Every category would see an increase in stock, but those four are the ones that have the most potential for additional sales. The amount of this loan makes my personal debt to income ratio seem a bit high, but 100% of this loan will be used to buy inventory that will immediately begin to generate new income for me. I also work a 2nd job at night that gives me a predictable paycheck, so I?m not reliant on the performance of the skate shop to be able to repay this loan. If you have any additional questions and you would like to contact me directly, I have listed my contact info on my Prosper profile page. Thanks for taking the time to consider my loan! I hope we can all prosper together. |
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