Loan Requested to Expand Operations
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 32% |
| Lender Rate: | 23% | Borrower: | TaylormadeDevelopmentGroup |
| Finished | State: | MI | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2007-06-04 | EricsCC ROI: | -22% |
| Status History | |
|---|---|
| Jun 03, 2007 | Current |
| Jul 20, 2007 | Late |
| Aug 05, 2007 | 1 month late |
| Aug 08, 2007 | Current |
| Sep 19, 2008 | Late |
| Oct 06, 2008 | 1 month late |
| Nov 05, 2008 | 2 months late |
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Purpose of loan: Loan used to expand construction and development projects. My firm have received a $600,000 in home funds grants to develop 9 houses in Michigan. We will be able to sell $200,000 homes for about $135,000 after allocated discounts. The funds will help go toward soft costs and pre construction development costs. Please note that I am willing to pay 4 points above the final bidded rate. or a Max of 28% My financial situation: My company has good cash flow and will have no problem re paying the loan from proceeds from the operation. Monthly net income: $ 12,500 Monthly expenses: $ Housing: $ 1004 Insurance: $ 150 Car expenses: $ 0 Utilities: $ 150 Phone, cable, internet: $ 150 Food, entertainment: $ 300 Clothing, household expenses $ 100 Credit cards and other loans: $ 5000 Other expenses: $ 500 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 132243 | Self Employed Business Owner Looking for Shot Term Financing | C | $20,000 @ 20% | May 03, 2007 | Expired |
| 135837 | Loan Requested to Fund Business Expansion | C | $20,000 @ 21% | May 11, 2007 | Expired |
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