New Educational Publisher Needs Help With 3rd Year Growth
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 58% |
| Lender Rate: | 16% | Borrower: | kwiten |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Super Clean Credit |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-07-23 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Jul 21, 2007 | Current |
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Purpose of loan: Reaching our 3rd Anniversary as publishers of educational materials specifically designed for middle and high school teachers, we have found our little family company growing far beyond our means. Since there are only two of us working for free at this time, we would use this loan to help pay for another two or three writers, shipping costs, printing of books, some advertising and promotional fees, and general office supplies. We have had a huge response for our materials, including a 300% increase in sales from our first to our second year, and are continuing to grow exponentially; however, we have not been able to keep up with writing and printing. We have a huge demand, but have not been able to write fast enough...and once we do finish writing a book, our printing, advertising, and promotional costs tend to wipe us out financially. My financial situation: I am currently employed as a teacher. I have a good income, but also have school and credit card debts from years ago. I have worked very hard to get these under control, but in trying to build my dream of this publishing company, I have had to use my credit cards for printing, etc. I am looking to outside help to fund this hugely growing business so that it (and I) am able to not only help myself, but also those teachers for which we write our materials. Monthly net income: $ 3400 Monthly expenses: $ 2760 Housing: $ 500 Insurance: $ 100 Car expenses: $ 460 Utilities: $ 100 Phone, cable, internet: $ 150 Food, entertainment: $ 200 Clothing, household expenses $ 100 Credit cards and other loans: $ 1000 Other expenses: $ 150 This leaves the remaining $650+ to pay my Prosper loan. Other notes about me: The income listed above does not include any income from the Publishing business. I have made it a habit to put everything I get from the business, back into the business. It has really been able to sustain itself, with a little bit of help from my personal accounts in the early stages. However, because of this, we are stuck on a plateau. The income above also does not include any money I make as a Freelance Consultant for an educational testing company. My pay from this company ranges from $800 to $5000 at any time, upon my completion of the task. I have used this income to help pay down my credit cards as well as put me through my Master's program that I will complete in December. I truly appreciate any help you can provide! I am working very hard to thrive as a business owner, and although I have a niche in the market, I am stuck with lack of capital. Please help me to grow and thrive so that I may help make teachers' lives easier. Once I get my (and my business's) finances under control, I fully plan to give back to the Prosper community! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 162079 | New Educational Publisher Needs Help With 3rd Year Growth | C | $25,000 @ 22% | Jul 02, 2007 | Withdrawn |
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