Short Term Business Cash 3 Weeks
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 17% |
| Lender Rate: | 20% | Borrower: | tjkhbd |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-07-31 | EricsCC ROI: | 19% |
| Status History | |
|---|---|
| Jul 31, 2007 | Current |
| May 07, 2008 | Payoff in progress |
| May 10, 2008 | Paid |
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Purpose of loan: Purpose of Loan is to pay workers comp and payroll for next two weeks untill paid by GC. Another invoice in the amount of 75,000 is due and payable within 14 days (explain what you will be using this loan for) My financial situation: We are a small business that has gone from 0 dollars on 8/15/2006 to 1.5 million since that date. We have survived a business partner loss that we succesfully removed via litigation. We could not work between Dec 31, 2006 to May 15th 2007. Since May 15th, 2007 we have performed 600 k of public works projects and have recievables in the amount of 511,00 k with payables of 330 k. We have wiped out are cash and credit line getting there and just need some help to get over the edge. Willing to pay 30 % on balance loaned for three week period. Will give a check that can be cashed by August 10,2007. We need cash to pay workers comp, retainer for lonshoremans insurance to start new contract on 07/30/2007 and pay next weeks payroll which is around 5500.00 (explain why you are a good candidate for paying back this loan) Monthly net income: $ Business 275 k, Monthly expenses: $ 128,000 Housing: $ NA Insurance: $ 3000 Car expenses: $ 2700 Utilities: $ 200 Phone, cable, internet: $ 100 Food, entertainment: $ na Clothing, household expenses $ na Credit cards and other loans: $ 2000 Other expenses: $ Labor 50,000 |
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