Home Improvement
| Listing Information | |||
|---|---|---|---|
| Amount: | $13,636.00 | Status: | Loan created |
| Grade: | A | DTI: | 12% |
| Lender Rate: | 18% | Borrower: | americream2007 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Small Business & Self Employed |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-06-12 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jun 12, 2007 | Current |
|
Purpose of loan: I need this loan to improve my home. I want to use the money to finish our basement, build a deck and put in hardwood floor in the kitchen. All this to increase the value of our home. Last year my wife and I bought this house with an Adjustable Rate Mortgage(ARM) Loan which will take effect in less than a year. So we need to refinance as soon as possible. Because of the amount that we paid for our house, we presently have little or no equity in our house. So we really do need to increase the value of our property to enable us get out from under the ARM. My wife and I had money saved for the aforementioned project but my beloved Mother passed away on April 1st and I had to go overseas to give her a befitting burial ceremony. This just about wiped out our funds. My financial situation: I hold an MBA degree and own a janitorial franchise. I have been in the janitorial business for over 7 years. With the assistance of my wife, we have built our business from a $48,000 per annum to a Quarter of a Million Dollar business in less than 4 years. We can easily increase our gross income from the business if we want to but the Quality of our work is so vey important to us that we do not want to grow too fast and face the possibility of compromising on Quality. My wife and I both supervise our work personally. We presently 6 great part-time employees who get paid on time everytime. I pay my bills, not on time but early every time. When I get this loan, I will authorize that the repayment be deducted from my checking account days before the due date. Monthly net income: $ 15,800 Monthly expenses: $ Housing: $ 1,914.00 Insurance: $ 200.00 Car expenses: $ 1300.00 Utilities: $ 200.00 Phone, cable, internet: $ 170.00 Food, entertainment: $ 300.00 Clothing, household expenses $ 200.00 Credit cards and other loans: $ 250.00 Other expenses: $ 4000.00 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 261511 | Home Improvement | D | $8,500 @ 34% | Jan 08, 2008 | Withdrawn |
| 261651 | Home Improvement | D | $8,500 @ 34% | Jan 08, 2008 | Expired |
| 264449 | Home Improvement | D | $3,500 @ 35% | Jan 13, 2008 | Withdrawn |
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