Expanding my ATM business
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 37% |
| Lender Rate: | 13% | Borrower: | Rick3176 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | FINANCE & INVESTMENTS |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2007-05-03 | EricsCC ROI: | 84% |
| Status History | |
|---|---|
| May 04, 2007 | Current |
| Sep 18, 2009 | Late |
| Oct 04, 2009 | 1 month late |
| Nov 14, 2009 | 2 months late |
| Dec 04, 2009 | 3 months late |
| Jan 05, 2010 | Default |
|
Purpose of loan:
I have been completely self employed since 1999 when I was laid off from Lockheed Martin Co. At that time I decided to expand a part time antique business I had been working for about 10 years. I started setting up at Antique shows around the southeast and found that itwas something I enjoyed as much fulltime as I had enjoyed part time previously. I soon began helping my brother with his ATM business which he had started in 1989. I found that this was something that i enjoyed also, so when he offered me the opportunity to take over two of his ATM machine locations I took the opportunity. At first it began as a supplement to my antique business income, but over the last four years it has grown to become a majority of my monthly income. The business does not take a lot of my but the return is very good. I have learned that providing excellent customer service, quick repairs, eliminating most downtime, andThank a means of contacting me whenever there is a problem have paid off dramatically with a significant increase in the number of transactions processed per month. Now I have to opportunity to expand my ATM business and am looking for the additional capital necessary to do this. I fell that my background and experience now will help me to significantly increase my business over the next two years. This seems to be an excellent tool for that purpose. Thank you for your time and consideration. My financial situation: At present I am financially capable of paying all my debts and my unsecured credit card debt with well over the minimum payment. My income runs in cycles yearly, and I am coming into the period when I will be increasing my income and will concentrate on paying down my credit card debt. Because of my additional business dealing in Antiques, I am able to obtain most household items at a reduced cost. My monthly budget: Mortgage/rent: $879.00 Insurance: $125.00 Car expenses: $500.00 Utilities: $300.00 Phone, cable, internet: $45.00 Food, entertainment: $300.00 Clothing, household expenses $100.00 Credit cards and other loan payments: $525.00 Other expenses: $200.00 --------------------------------------- Total monthly expenses: $2974.00 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 116538 | Expanding My ATM Business | B | $9,000 @ 14% | Mar 28, 2007 | Expired |
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