Need to upgrade electrical
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 41% |
| Lender Rate: | 16% | Borrower: | chico777 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Small Business & Self Employed |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-05-31 | EricsCC ROI: | -39% |
| Status History | |
|---|---|
| May 31, 2007 | Current |
| Jan 16, 2008 | Late |
| Feb 03, 2008 | 1 month late |
| Mar 01, 2008 | 2 months late |
| Apr 01, 2008 | 3 months late |
| May 02, 2008 | 4+ months late |
|
Purpose of loan: My wife and I own and operate a hair salon and we need to upgrade the electrical in the building. The building is a turn of the century brick two story, right in the middle of the downtown shopping area. We have room for expansion but no electrical for hair dryers, lights, and all the other things that go along with this type of business. The building owner has given us permission to expand, at our expense of course. We have everything we need except electrical. I work full-time+ and just do general maintnence at the salon. This type of job is way over my head, and it will also have to pass code. My financial situation: I have been a full time gov't employee for over 12 years. My wife has been in business for herself for 7+ years and we are quite financially stable. We dont have a large cash reserve as we just spent alot of money buying equipment to expand our business. I see that my credit says I was late one time with a payment. I cant dispute the negative mark. My credit wasn't very good seven years ago but my wife has taken all my money (thankfully) and my score has improved considerably. We havent been late on a payment in years we would have no problems making payments. Our goal is to get a loan without touching the equity in our home. Monthly net income: $ My wife and I have a combined income of $13,000+ a month Monthly expenses: $ Housing: $ 928 Insurance: $ 250 Car expenses: $ 845 Utilities: $ 325 Phone, cable, internet: $ 200 Food, entertainment: $ 400 Clothing, household expenses $ 250 Credit cards and other loans: $ 350 Other expenses: $ 250 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 141080 | home improvment not attached to house | A | $10,000 @ 16% | May 21, 2007 | Withdrawn |
| 141784 | Need to upgrade electrical at business | A | $10,000 @ 15% | May 23, 2007 | Withdrawn |
| 238403 | Need a new tool for work | E | $2,552 @ 24% | Nov 27, 2007 | Expired |
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