Upgrading Small Business, Paying for Adoption & Wheelchair
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 42% |
| Lender Rate: | 17% | Borrower: | aollc |
| Finished | State: | OH | |
| Funded: | 100% | Group: | Lend2's Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-06-27 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Jun 28, 2007 | Current |
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INTRODUCTION Hi, thank you for looking at my loan request. I am a 30 year teacher from Ohio, I have been teaching in the same position for seven years. I also run a small internet firm, Miami Valley Internet Group, in which I design and host websites for small to medium size businesses. My wife is also a teacher and has been working for 6 years with the same district, but this past year she went part-time (I will explain below). I have two beautiful daughters five and 13 months (see pictures). Being a teacher allows me enough time to work on my design firm and provides us with enough income to help pay the bills. LOAN PURPOSE Not to get into too much detail about problems in my life and I know everybody has there fair share. I recently read a forum post that ripped on people who wrote about their hardships in their requests for loans?well sometimes hardships really happen and they are not just made up. About a year and half ago my daughter was diagnosed with a rare brain disease (VWM Disease), she was doing fine until she fell down the steps Thanksgiving Day 2005. She lost all movement from the neck down and was in a seizer like state for 24 hours?we spent over a week in the ICU and two weeks in the hospital. She has since been recovering from the fall and has made huge progress?but still cannot walk. We are in the process of purchasing an electric wheelchair which is $8,000 we have raised $4,000 through family and friends but would use $4,000 of this loan to bridge the gap. We also just recently adopted from Guatemala and financed some of the adoption on credit cards. Some of the money would pay-off these cards and believe it or not at 23% would be lower then the credit cards. The third thing that the money would do is to help promote my business this summer. Like I noted before I am a school teacher and one of the perks is having our summers off?this is a great opportunity to find more clients for my company. I would use a small portion for advertising with local media and upgrading software. For a reference I recently completed the local Ronald McDonald House?s site and it can be viewed at rmhcdayton(dot)org. Debts to be paid off: - {Chase Credit Card} / Total Owed: $5,250 / Mo. Pymt.: $227.50 / Interest: 29.99% - {Citi Card} / Total Owed: $3,300 / Mo. Pymt.: $145.00 / Interest: 32.24% EXPLANATION OF CREDIT PROBLEMS I have student loans which all of the delinquencies are from 2001-2002 when I had a problem with my student loans being sent to an old address and being sent to my parents who, you guessed it, stuffed them away in a drawer. Besides that I pay all of my bills on time and have not had a problem. BUDGET Monthly Income: My Income: $5,500/mo.(this is an average, but it depends on my design work load, last summer I had a $10,000 month) Spouse's Income: $1833/mo. Expenses: Credit Cards/Loans: $950 (student loans are lumped in here) Mortgage: $1,100 (including taxes & insurance) Car Payment: $400.00 (I have a 96 Honda Accord that is paid off) Insurance: $125 Utilities (phone, cell, gas, electric, water): $350 Food: $650 Entertainment: $100 Medical: $550 (my daughter has 3 therapy sessions a week & my insurance only covers 20 per year?love insurance) Miscellaneous: $250 TOTAL EXPENSES: $4,475 LEFT OVER: $2,858 CONCLUSION Thank you for taking the time to consider my request! Please let me know if I can answer any questions. Sincerely, JP |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 75957 | Adoption and Medical Bills | C | $14,000 @ 7% | Dec 18, 2006 | Withdrawn |
| 146295 | Adoption, Wheelchair and Small Business Upgrade | C | $15,000 @ 22% | Jun 03, 2007 | Withdrawn |
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