Business capital for animal product company
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,500.00 | Status: | Loan created |
| Grade: | A | DTI: | 18% |
| Lender Rate: | 13% | Borrower: | all4buddy |
| Finished | State: | CO | |
| Funded: | 100% | Group: | Business Owners Cooperative |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Payoff in progress | Origination Date: | 2006-05-26 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Jul 12, 2006 | Current |
| Nov 27, 2008 | Payoff in progress |
|
Thank you EVERYBODY who has bid on my past 2 listings. Key points in my journey thus far: - I invented and created a new pet product which covers legs and is a great alternative to the ?lamp shade? collar when only the legs need to be covered. My website is www.thestrock.com if you want all the details. - I left the corporate life and began my own small business, Best Buddy Pet Products, based upon this product. - Income is sufficient from sales in the local area to be considered a ?full time income? and meet my monthly living expenses - Sales are ?snowballing? into nationwide distribution Funds are needed to meet this demand for inventory production. - Projected income will exceed $100K within the first year of business. Key points on my ability to pay this loan: - Already had sufficient funds set aside to begin this company and stay ?solvent? for nearly 6 months. Tremendous sales have already extended that time frame. - With revenue and profits coming in, I can meet my current monthly expenses, including the payment of this loan, without difficulty. I have a credit grade of ?A? which carries some weight on my trustworthiness since it has been earned. In Prosper?s grading scale, it would?ve been much lower 4 years ago (probably an HR grade), but I have worked tirelessly to improve it. I obviously need an income to continue doing so. Distribution of funds being requested: - $3,000 for production and inventory - $2,000 for office equipment needed to support national clients - $500 to cover initial shipping costs - $2,000 in printing costs - $2,500 for hiring on additional help (tax accountant, lawyer, etc.) Key points on my credit blemishes: - I learned the very difficult lesson of not being able to live on credit cards after having done so for over 20 years without realizing the damage I was doing. Lesson learned and taken to heart 4 years ago when I bought my first house. I no longer carry credit card debt except for that in the past that is being repaid. - I am currently working with the ?4 delinquencies? on my credit report which are credit card companies. Although they are not content with my delinquencies (and I?m not either, for that matter!), they understand and appreciate that I will never consider the option of filing bankruptcy, so they are being patient while repayment is a work in progress. This problem didn?t happen overnight, nor will it get fixed overnight. I had many delinquencies in the past but have worked it down to the current 4, which is tremendous progress. Key reasons to consider bidding on this loan listing: - The interest rate will garner a fair return on your money which is important. - This product will help animals. - You will have my unwavering gratuity and thanks right along with my repayment. I appreciate your consideration of bidding on my listing. I?ve raised the rate, lowered the amount and gone for ?immediate funding? to prevent anybody?s funds getting ?tied up in waiting?, as I was advised to do. If there is more that I could provide, please let me know! THANK YOU!! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 10340 | Launch my new business based on my animal product invention | A | $25,000 @ 12% | May 01, 2006 | Withdrawn |
| 12864 | Can you please help a hard worker help animals? | A | $9,900 @ 11% | May 11, 2006 | Expired |
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