Funding for business growth
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 1,001% |
| Lender Rate: | 29% | Borrower: | Connection |
| Finished | State: | UT | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-06-21 | EricsCC ROI: | -45% |
| Status History | |
|---|---|
| Jun 21, 2007 | Current |
| Nov 06, 2007 | Late |
| Nov 25, 2007 | 1 month late |
| Nov 28, 2007 | Current |
| Dec 06, 2007 | Late |
| Dec 19, 2007 | Current |
| Jan 05, 2008 | Late |
| Jan 24, 2008 | 1 month late |
| Jan 25, 2008 | Current |
| Feb 06, 2008 | Late |
| Feb 22, 2008 | 1 month late |
| Mar 22, 2008 | 2 months late |
| Apr 22, 2008 | 3 months late |
| May 24, 2008 | 4+ months late |
|
Purpose of loan: My son and I have a fairly new business specializing in marketing for Chiropractors. We have fine tuned the process of setting up meetings that yeild an average of 3 new patients each time. We charge $150 each and our doctors ask for between 5 and 15 meetings per month. Our doctors love this process and some of them now use us exclusively for their practice's growth. We now have approximately a dozen doctors in Utah, Arizona and Washington and the business is profitable. We could handle hundreds of doctors, but we need funds for advertising, travel, web site enhancements, and salaries to reach a level where our cash flow will sustain our growth and allow us to support our families. My financial situation: I left a $120,000/yr COO position last year to start something locally so I could be around my wife, children and grandchildren more. Over the last couple of years my wife and I decided to dedicate nearly all of our disposable income to pay down debt and now have almost no debt. We own a brand new home but it is under her name since her credit score is higher than mine. Our new business is just now getting to the point where it just barely pays the bills. Doubling our number of doctors will add approximately $10K in monthly cash flow. Monthly net income: $6,000 Monthly expenses: $ Housing: $ 2,500 Insurance: $ 300 Car expenses: $ 285 Utilities: $ 350 Phone, cable, internet: $ 85 Food, entertainment: $ 600 Clothing, household expenses $ 500 Credit cards and other loans: $ 350 Other expenses: $ 500 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 147050 | Funding for business growth | C | $25,000 @ 24% | Jun 05, 2007 | Withdrawn |
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