Help me acheive my business startup dreams!
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 77% |
| Lender Rate: | 13% | Borrower: | courtiecovey |
| Finished | State: | AL | |
| Funded: | 100% | Group: | Lend2's Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-05-18 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| May 18, 2007 | Current |
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Thank you for taking the time to read my loan request! My name is Courtney and I am a college junior at Auburn University in Auburn, AL double majoring in International Business and Marketing and will graduate in May 2008 as a Distinguished Scholar. I am 100% supported by my parents who own two homes (one of which is paid off) and make 200K+ per year. They pay all of my expenses: room/board, tuition, books, clothing, food, personal items, insurance, gas, etc. My car is paid off as well. I do not take anything for granted however, and I do work a part time job in which I earn $500 per month that is just my "personal play money." I will use this cash to make monthly payments on this Prosper loan. LOAN PURPOSE I am seeking this $6,000 loan to start my own business here in Auburn through a franchised company. It is going to be a personal training/fitness center. The franchise will provide all the necessary equipment, marketing, advertising, etc. I will solely be responsible for my overhead and the one or two employees I will have as trainers besides myself. It doesn't matter what my profits are because this in no way effects whether or not I will pay back my Prosper Loan. The payment of the Prosper loan is coming from my $500/mo income working at a retail store. I will not be opening the personal training/fitness center until probably a good 8-12 months from now, but I must come up with the additional $6,000 before I can proceed. My goal is to have the loan paid off EARLY! Distribution of Funds: Franchising Fee: $6,000 The total franchising fee is $10,000 but I already have $4,000 from my grandparents who are investing in me! :) EXPLANATION OF CREDIT My debt to income ratio is so high because I have some credit cards in my name. I have an Ann Taylor credit card ($144 balance, I work at Ann Taylor), a Best Buy card ($0 balance, don't use it but I keep it open) an MBNA Auburn University card (about $400 balance) and a Chase credit card (about $2300 balance). I had to enter my income, but these cards are paid by my parents. The Auburn card gets monthly expenses put on it and they pay it off. The Chase card has a 0% interest for a year and they put my tuition on it. They like doing this because they can earn so many free points and what not by putting big purchases on the card. My Dad and Mom fly free all year long to anywhere in the US because we've earned so many points. They pay off these cards at the end of every month. But in case you were wondering, I had to enter my personal income even though I don't pay the cards. BUDGET Monthly Income: My Income: $500/mo. Expenses before Prosper Loan: I have no expenses because my parents cover all expenditures. TOTAL EXPENSES: $0 LEFT OVER: $500 Changes after Prosper Loan: Prosper Loan: I'd like to keep my payments around $200 a month, simply so I can have extra cash to keep as my "play money." Credit Cards/Loans: $0 TOTAL EXPENSES: $200 LEFT OVER: $300 CONCLUSION I have a very good credit rating! 720+ score, because I am diligent in paying off expenses on my Ann Taylor card and other cards that my parents pay for. Never been late EVER and always pay much more than the minimum, with most of the time paying the entire balance off to not incur interest. Also, please note that Auburn/Opelika, AL has been rated the #1 place in America to start a small business! If you have any questions, please ask. But I strongly feel I am a very good choice for a loan at this interest rate because of my credit history and the disposable monthly income I have to pay back the loan. Thank you for taking the time to consider my request! Take care and God Bless. Sincerely, Cou |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 126145 | Pursuing personal dreams, ambitions and goals! | A | $6,000 @ 8% | Apr 19, 2007 | Withdrawn |
| 127068 | Help me acheive my dream! | A | $6,000 @ 11% | Apr 22, 2007 | Withdrawn |
| 130780 | Help me acheive my business start up dreams! | A | $6,000 @ 18% | Apr 30, 2007 | Withdrawn |
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