Pay off debts and grow business!
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 20% |
| Lender Rate: | 18% | Borrower: | Deca8000 |
| Finished | State: | UT | |
| Funded: | 100% | Group: | closed12345 |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-07-30 | EricsCC ROI: | 17% |
| Status History | |
|---|---|
| Jul 28, 2007 | Current |
| Aug 01, 2010 | Payoff in progress |
| Aug 07, 2010 | Paid |
|
Purpose of loan: My wife and I have started a couple of companies over the past 15 years including a company called CableLink that generated 16 million in revenue in 2001. For the past 3 1/2 years we have developed and successfully run an Internet dating web company called Promise Companies. We are launching a dating TV show in the Utah market in August and have developed exciting software to manage the advertising. The two successful websites currently active are LDS Promise.com and NewDuck.com. We need the loan to improve our own financial position and to pay off some higher credit card loans. (I will put up a photo of myself and my wife tomorrow.) My financial situation: My credit is listed as a C and my wifes is a B. Our current business pays the bills but we want to pay off some high interest rate cards (30% +) and to consolidate other bills. Monthly net income: $ 10,0000-12,000 Monthly expenses: $ Housing: $ 3100 Insurance: $ 300 Car expenses: $ None-both cars paid off. Utilities: $ 700 Phone, cable, internet: $ 250 Food, entertainment: $ 1000 Clothing, household expenses $ 1000 Personal Line of credit: $700 Credit card: $11,000 (will be paid off with loan) Credit card: $5,500 (will be paid off with loan) Credit card: $2,500 (will be paid back with loan) Other credit card expenses: $1500 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 135044 | Money to expand our business | E | $25,000 @ 25% | May 09, 2007 | Expired |
| 139221 | Business Growing! | E | $25,000 @ 29% | May 17, 2007 | Expired |
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