Business running capitol re-do
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 43% |
| Lender Rate: | 14% | Borrower: | TRahim |
| Finished | State: | OR | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-04-20 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Apr 19, 2007 | Current |
| Apr 20, 2010 | Payoff in progress |
| May 01, 2010 | Paid |
|
We're redoing the request for credit do to some typing errors in the earlier request Purpose of loan: To acquire business running capitol or business line of credit. My financial situation: We feel that we are a good candidate because we have been in business for over 20 years. Our business has had good steady growth over the years. Making around $320,000. annually. In 2005 CVR had a $36,000 profit. In 2003 the president of the company had heart bypass surgery with complications lasting around 1 year. This was the primary reason for our personal bankruptcy. This has somehow affected the businesses credit even though it is a corporation . We have in our possession a letter from our bankruptcy attorney stating that our bankruptcy does not involve CVR Jewelers Inc. However it is still showing on our business credit. We have sent a letter to Experian asking them to remove the bankruptcy from our business credit report. Right now I only have personal credit with Mohela, this is a student loan for my daughter. CVR jewelers has an American Express card , Capital One card and a Household bank card. All in good standing. If you need more explanation, please contact T.Rahim. If you would like a little more info on CVR go to CVRJewelers.com Because I?m looking at credit for our business and not myself, I?m not sure how this debt to income ratio would work . Here is a break down on CVR?s monthly bills Rent : $1236. Utility $205 Phone: $180. Advertising: $600. Car: $250 Tax:$1287. Insurance:$300 Security: $70 Employee wage:$7000 Total $11,128 Then there is ?Cost of goods sold?. This could be anywhere from $3000. to $9000. The more money we make in new sales the more ?Cost of goods? we have. Here's a break down of our Personal bills Home: $1,143 Water & Electrical $275 Phone:35 Comcast (cable tv): $76 Garbage: $29 Security: $26 Insurance: $1,439 Home, Medical, Car, life. Property tax:$176. Student loan: $250 Doc. / Dentist: $100. Food $600 Missc:$150 Total $4,299 Thanks for reading my request |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 119098 | Business running capitol | AA | $25,000 @ 27% | Apr 04, 2007 | Withdrawn |
| 119529 | Business Running capitol | AA | $15,000 @ 15% | Apr 05, 2007 | Withdrawn |
| 227289 | Business running capitol | A | $11,500 @ 16% | Nov 06, 2007 | Cancelled |
| 361680 | To buy an RV from my parents. | AA | $12,000 @ 17% | Jul 09, 2008 | Expired |
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