Eric's Credit Community

*DISCLAIMER Re: DTI- We are both public school teachers. DTI listed only for my wife?s debt/income. This year, we made $80,000 combined. Beginning in August my annual salary will increase to almost $48,000, her?s will be close to $42,000 (almost $90,000 combined). We have signed our contracts! This doesn't include profits we may make with our business. All accounts are joint between the two of us.

?To Educate, To Inspire, To Lead.? This is the Mission Statement for our new venture, ?Understudy." Since 2000, my wife and I have served as Teachers, Youth Leaders, Soccer Coaches, Leadership Club Advisors, and Mentors to underprivileged children, elderly Alzheimer?s patients, and Special Needs children. This will not take the place of our full-time teaching jobs! It is a business we have started on the side to raise leadership awareness among our young people today. At the same time, we do plan to show a profit from this business.

"Understudy Publishing, LLC" (our official name) promotes leadership programs that appeal to teenagers/youths, regardless of socio-economic backgrounds, resources, or disabilities, including: Leadership Training Programs for Teenagers, High School Athletic Teams & Coaches, Mentoring books for Youth Groups & Clubs, Mentors for ?At Risk? Youths, an Online Magazine, books to promote awareness of the need for leadership in our communities, and Training for Adult Leaders who oversee such groups.

We have obtained a business license, a Fed Tax ID #, and registered the company as an LLC. Furthermore, we will seek Federal Grant money for support as we attempt to grow. We are confident that we should be able to generate a minimum of $750-$1,000 a month from the ?Understudy? programs. This is a conservative estimate, as we project profits to be higher.

Monthly Personal Expenses: Tithe($565), Housing($1,075), Utilities/Cable/Internet($485), Car/Gas($575), Insurance($198), Credit Lines/Loans($775), Groceries($200) Total:($3,873)
Combined Monthly Income After Taxes: $5,636.57(will increas in August with pay raise)

The loan:

• $88: Prosper fee
• $1,500: Creation of 2 company websites (one-time fee)
• $500: Creation of professional ?Understudy? logo, letterhead, and business cards
• $1,800: Advertising
• $1,075: Office Furniture/Supplies
• $3,800: Liquid cash flow for expenses and costs of initial publishing.
• $37: Dinner to toast this new venture, the children we will serve, and the AMAZING people who helped make it a reality (you)!