Launched Winning Business, Need Small Working Capital!
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,775.00 | Status: | Loan created |
| Grade: | D | DTI: | 19% |
| Lender Rate: | 10% | Borrower: | ShiningStar1 |
| Finished | State: | SC | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-05-11 | EricsCC ROI: | -44% |
| Status History | |
|---|---|
| May 11, 2007 | Current |
| Jun 28, 2007 | Late |
| Jul 12, 2007 | 1 month late |
| Jul 26, 2007 | Current |
| Aug 28, 2007 | Late |
| Sep 14, 2007 | 1 month late |
| Sep 15, 2007 | Current |
| Sep 27, 2007 | Late |
| Oct 12, 2007 | 1 month late |
| Nov 12, 2007 | 2 months late |
| Dec 13, 2007 | 3 months late |
| Jan 12, 2008 | 4+ months late |
|
Purpose of loan: I recently self-published my book, Confessions of a Church Girl, and have invested approx. $3,000 in purchasing product, supplies, initial marketing, and funding the business documents of start-up. I would like to take this to the next level with a much larger marketing campaign that is sure to return a large profit. The book is available (and selling) on Amazon.com and my personal website. A snapshot of my marketing plan is below. My financial situation: I pay my bills on time, and good credit is my ultimate goal. I did not begin a real credit history until two years ago when I graduated from college, which is why my credit history is limited and debt-to-income ratio high. I took out student loans to fund my education, but only pay the interest right now which isn?t much. I have two credit cards, and one credit line, and the total amount of debt is approx $1,000. I have only missed one payment over the last 12 months, and this was due to a serious illness (bronchitis/pneumonia), and my medicine had to be paid for upfront. Unfortunately, because I have little credit, that one missed payment made my score go way down. If you bid on my listing I promise that I will not let you or my team down. Making my payments on time will be my top priority each month, I sincerely promise you that and as you can see from my financial details, I will have the money to do it. However, I do live in a rate cap state, but please don?t let that stop you from bidding! This would be a great opportunity to prove my credit worthiness, and launch a business! -0 Delinquencies -0 Collections -0 Public Records My monthly budget: Mortgage/rent: $651 Utilities: $100 Phone, cable, internet: $50 (discounted through my job) Food, entertainment: $200 Clothing, household expenses $50 Credit cards and other loan payments: $100 --------------------------------------- Total monthly expenses: $1151 Marketing Plan: Advertising/Marketing - radio announcements - website (500 hits per month) - MySpace (50 hits per day) - postcards (5,000 printed) - magazine ads (includes e-magazines) - newspaper articles - email promotions (current monthly run) Pricing Strategy - Penetration Pricing o Most customers of books/magazines are cost sensitive. So the first step in our strategy is to set the cost low, so that more customers initial, and as interest climbs for the products, more customers will buy and we can increase the cost as demand rises - Target Return Pricing o Example: produce 1,000 books. The cost to produce each is approx $3.00 per copy. In order to get back the money we spent buying the copies, we must sell each book at least $3.00. This will return what we have lost. - Promotional Discount o Using the same example, the set list price for Confessions is $19.99. Upon introduction, for a limited time, customers could purchase one for $15.00, or two for $25.00. Marketing Budget: Monthly Operating Budget (1st year) - Phone/Internet ($30) - Supplies ($30) - Promotion ($600) - Product purchase (300 copies every 3 months - $1000) - Product/Promotion mailing ($150) - Printing - $300 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 124746 | College Graduate Starting a Business | D | $3,000 @ 11% | Apr 17, 2007 | Withdrawn |
| 126311 | Launched Winning Business, Need Working Capital! | D | $3,000 @ 9% | Apr 20, 2007 | Withdrawn |
| 128956 | Launched winning business, Need small working capital! | D | $1,775 @ 11% | Apr 26, 2007 | Expired |
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