Seeking Startup Funds for Research-based eBay Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,500.00 | Status: | Loan created |
| Grade: | A | DTI: | 25% |
| Lender Rate: | 11% | Borrower: | Emily49 |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-13 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Aug 11, 2007 | Current |
|
Purpose of loan: I am seeking a loan from Prosper as startup funds for a research-based eBay business to supplement my regular income. I've set up an eBay store (no products yet) and subscribed to two very respected market research and product sourcing tools to help determine the demand for various products and locate sources for them. I plan to specialize in a market niche within the next few months, but for now I'm planning a diversified product line based on the products that my research says people are looking for online and actually buying. The loan from Prosper will fund initial purchases of wholesale merchandise, shipping supplies, credit card processing services, and other startup costs. While I haven't yet bought and sold extensively on eBay, my satisfaction rating for the transactions I'd had so far is 100%. I am very focused on making the eBay business successful so that I can use the income to pay off my debts, save for a downpayment on a new home and hopefully turn it into a full-time business when I retire in a few years. I have past internet sales experience: I operated a small internet sales site several years ago as a hobby, selling pet novelties. I learned a great deal about internet sales, marketing, customer service, shipping and product sourcing. It was somewhat successful even though I operated it as a hobby, not a business. I shut it down to devote time to a new full-time job. Now I'm excited about re-entering internet sales as a serious business and am committed to making it successful. Thank you very much for considering my loan request. My financial situation: I have been steadily employed by the same employer (state government) for about 17 years. I built up some large debts in the past, but I have been working very hard to pay them off. I will have the majority paid off by March 2008 (hopefully earlier with the eBay income), which will free up an additional $1,440 a month to pay off my Prosper loan. There is a delinquency on my credit report that will also be paid off by March 2008. Monthly net income: $ 4,459 (will increase by approximately $85 in September 2007 - cost of living increase) Monthly expenses: Housing: $1,117 Insurance: $72 Car and gasoline expenses: $440 Utilities: $140 Phone, cable, internet: $150 Food, entertainment: $175 Clothing, household expenses $25 Credit cards and other loans: $1,920 eBay research/store services: $60 Available to pay Prosper loan: $435 per month beginning in September, plus income from eBay business |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 112394 | Consolidate Credit Card Debt | B | $6,500 @ 13% | Mar 17, 2007 | Withdrawn |
| 133430 | Paying Down Debt | B | $3,000 @ 7% | May 06, 2007 | Expired |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|