Re-listing ~ 'C' borrower at 18.26%, low DTI
| Listing Information |
| Amount: | $6,001.00 |
Status: | Loan created |
| Grade: | C |
DTI: | 11% |
| Lender Rate: | 15% |
Borrower: |
NEPatsFan
|
| Time Left: | Finished |
State: | MA |
| Funded: | 100% |
Group: |
KoyneLoans
|
| Loan Information |
| Loan Status:
| 4+ months late |
Origination Date:
| 2007-06-11 |
EricsCC ROI:
| -68% |
| Status History |
| Jun 09, 2007 |
Current |
| Jul 26, 2008 |
Late |
| Aug 12, 2008 |
1 month late |
| Sep 13, 2008 |
2 months late |
| Oct 12, 2008 |
3 months late |
| Nov 12, 2008 |
4+ months late |
Relisting after getting 71% funded on previous attempt. Bank accounts now verified; and I skipped the autofunding option.
Thanks in advance.
Greetings, I am a self-employed Caterer. I've owned and operated my own small business since 2000. The funds from this loan will be used to accomplish two goals:*To provide operating capital (I.E. Security Blanket) for my recently expanded business.*To improve my credit score by way of: -Making timely payments on this prosper loan. -Obtaining a secured credit card, to be used for small purchases (gas, etc...) and paid in full on a monthly basis. I damaged my credit history in the past, by being 'young and stupid' and simply ignorant in regards to my credit score. I've been able to eliminate nearly all of my debt over the past 5 years (Bankruptcy in January 2003; re-paid family members; paid off one student loan; paid down another student loan). Now, I am looking forward to rebuilding my credit history and establishing myself as a safe credit risk. I have one student loan at this time. I currently do not have a mortgage, car payment or any other credit. My Credit report shows the following:*Student loan in good standing; +/- $2200 remaining. In recent months, I've actually paid a little extra into this to try to whittle it down. My next payment isn't due till late June. Payments are only $50/mo; last two payments were for $100 each.*PR: bankruptcy, January 2003. The unfortunate culmination of many years of not understanding credit and finance. Married young and started a family long before I started to understand finances. Many of the items in this bankruptcy had nagged us for years. This was a steep price to pay in order to wipe the slate clean, but well worth it.*PR: Small claims court judgement for $410 ~ Billed by an auto shop for repairs that I never asked to be done on my vehicle. Brought the car in for one reason, and they elected to 'fix' something comletely different. Although I still believe I was the victim of fraud; the court ruled in their favor. Had I known then, that such a PR does so much damage to one's credit score, I would've gladly paid the $410....in unrolled pennies. My original loan listing (sep '06) stated:"I also intend to expand and grow my business over the next 5 years. My current business was started, quite literally, with a 'shoe string' budget and alot of determination. 6 Years later it is going strong and has proven quite viable. At our current rate of growth, I anticipate the need for a small business loan in a few years, in order to expand to the point that I envisioned when I set out on my own. Obviously, an improved credit score would be key in obtaining such a loan, down the road." Well, the reason I've waited so long to re-submit my loan listing is that business has been quite good. The growth I had anticipated came sooner than I expected. After a great first quarter, we moved our growing catering business into a store-front restaurant property, that came available at the right time. Fortunately, this has enabled us to add 'carry out' business to our existing catering and BBQ services. UNfortunately, moving into a new location has been a financially and mentally exhausting process. Whatever cushion I had as far as operating capital went toward first and last months rent, decore', paper goods, and a million other new expenses. Thank you in advance for considering my listing. |
| Borrower's Other Listings |
| 39145 |
Rebuilding Credit |
D |
$6,001 @ 22% |
Sep 13, 2006 |
Withdrawn |
| 145709 |
Business expansion and improving credit score |
C |
$6,001 @ 18% |
Jun 01, 2007 |
Expired |
|
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