AA Credit Serial Entrepreneur buying new product to expand
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 8% |
| Lender Rate: | 9% | Borrower: | peterjmarr |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-05-08 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| May 06, 2007 | Current |
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Purpose of loan: As a serial entrepreneur, I am always looking for great new products. We have just purchased the company assets and licensed the product patent for The EZ Cover. http://theEZCover.com This company has sold approximately 3000 units since it was invented. The owners were wanted to sell to return to real estate sales in Southern California. As a manufacturer and marketer in the Automotive Accessory business for over 30 years, I have many contacts that will be interested in this item. They are already sold at the following web sites along with a number of others. http://www.hammacher.com/publish/72843.asp?promo=QSearch http://www.autopartswarehouse.com/performance/bparts.php?brandid=3805 http://carcovers4less.com/car-cover-ezcover.html We have already paid for the company and rights. This loan will fund one container for the initial inventory. My financial situation: The sales of this product will generate additional funds to repay this loan. As you can see from my AA credit rating, I have always paid my bills. It is my hope that this will be a less expensive way to add new product offerings to our program. My monthly sales and profits: AutoAccessories4Less.com generates over $700,000 in sales and over $10,000 per month in net profits. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 124833 | Lower Commercial Bank Borrowing Costs | AA | $25,000 @ 9% | Apr 17, 2007 | Expired |
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