Growing Process Piping Company Operating Funds
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|Funded:||100%||Group:||Small Business & Self Employed|
|Loan Status:||Paid||Origination Date:||2007-06-14||EricsCC ROI:||15%|
|Jun 15, 2007||Current|
|Jun 27, 2010||Payoff in progress|
|Jul 03, 2010||Paid|
Purpose of loan:
My company, GMP Process Piping, as been in business for four years. We specialize in high purity piping systems for regulated industry, such as biotechnology and pharmaceutical plants.
We funded this business from the beginning, and continue to do so with no bank financing whatsoever. We have funded the business through owner equity, personal loans, and profitability. In fact, we paid back a $20,000.00 personal loan early on in the business in just 6 months.
Are we profitable? Absolutely. Our last fiscal year saw gross revenues of $565,000.00, up from $317,000.00 the previous year.
This loan will be used for operating capital; specifically to expand sales through additional manpower and equipment costs, as well as marketing efforts to increase the customer base.
My financial situation:
I have rebuilt my personal credit, and have built the business credit to a solid level. We are listed with D&B, and have a green level payment history. This means within terms, as promised!
Monthly net income: $ 8250
Monthly expenses: $
Housing: $ 3200
Insurance: $ 186
Car expenses: $ 1000
Utilities: $ 250
Phone, cable, internet: $ 130
Food, entertainment: $ 1000
Clothing, household expenses $ 500
Credit cards and other loans: $ 0
Other expenses: $ 0
|Borrower's Other Listings|
|144281||Business Operating Capital||B||$25,000 @ 17%||May 29, 2007||Withdrawn|