Publish a Magazine and Open a Bookstore
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|Loan Status:||Paid||Origination Date:||2007-06-25||EricsCC ROI:||11%|
|Jun 23, 2007||Current|
|Dec 11, 2007||Late|
|Dec 14, 2007||Current|
|Feb 09, 2008||Late|
|Feb 15, 2008||Current|
|Dec 10, 2009||Late|
|Dec 17, 2009||Current|
|Feb 06, 2010||Payoff in progress|
|Feb 13, 2010||Paid|
Purpose of loan:
My wife and I are starting a small publishing company and online bookstore. We will be publishing a twice annual literary journal based on the the theme of lament. The first issue has had a good response from writers and is nearly ready to go to press. Several people have already expressed interest in purchasing the journal when it is ready. We also hope to be publishing chapbooks from new authors in the near future.
The bookstore will be the financial backbone of the business. We have a selection of over fifty quality memoirs and autobiographies. By selling books, we will earn the money necessary to invest in publishing fresh literature.
The money from this loan will accomplish three major tasks. First, we will be able to print the first issue of the journal. The sales of this journal and future advertising revenue will be invested back into the business to fund additional issues. Secondly, I plan to add additional inventory to the bookstore and purchase shipping supplies. Thirdly, I will use these funds to advertise my business.
My financial situation:
I have excellent credit and am working full-time. We purchased a small house, so our living expenses are low. My wife is able to work as an independent contractor as much as necessary to make monthly payments until the business is self-supporting. It will not be a problem for us to pay back this loan.
|Borrower's Other Listings|
|145570||Publish my magazine||A||$3,200 @ 14%||Jun 01, 2007||Withdrawn|