University of Maryland Economics Major Funds Business & Ed.
| Listing Information | |||
|---|---|---|---|
| Amount: | $11,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 38% |
| Lender Rate: | 15% | Borrower: | oladipo1 |
| Finished | State: | MD | |
| Funded: | 100% | Group: | Future Innovations |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2007-08-21 | EricsCC ROI: | -43% |
| Status History | |
|---|---|
| Aug 27, 2007 | Current |
| Oct 06, 2008 | Late |
| Oct 22, 2008 | 1 month late |
| Nov 22, 2008 | 2 months late |
|
Hello and thank you for taking the time to review my loan request. I am a senior at the University of Maryland Baltimore majoring in Financial Economics with a minor in Computer Science. Currently, I work full time as a computer specialist at the US Department of Commerce where I have been employed for the past five years, since my junior year in high school. In addition, I work 2 weekends a month as a professional photographer, which I really enjoy. I am using a Canon Digital Rebel XT and two photo printers out of my basement, but would like to expand to increase revenue. My main goal with this Prosper loan is the expansion of my photography business, consolidate my credit cards and pay my University of Maryland fall tuition. Purpose of Loan: If I am fortunate to be funded through Prosper, the funds will be used lease a professional space and upgrade my photography equipment. I have already found a terrific location in Lanham, Maryland, where my lease agreement is $620.00 a month for the office space. This includes internet access and all utilities. I also plan to buy a better photo printer, the Hewlett-Packard Photosmart Professional Photo Printer ($350); Canon Auto Focus Wide Angle Lens ($450); Office furniture and tools ($650); Supplies ($350); Website hosting ($15 a month); Company registration and documentation ($480); and Misc. paperwork ($150) for total expenses of $3,065. A photographer who works with me on big photo shoots will pay $250 monthly rent. Credit Cards to Consolidate: Bank of America: $2,500 @ 27% Bill Me Later Credit account: $890 @ 19.99% PayPal Credit account: $650 @ 23.77% Personal Investment: University of Maryland Fall Tuition: $3,580 (Where I am a senior with 12 credit left to graduation) Total Prosper Loan Request: $11,000 My Financial Situation: Lenders for this loan can rest assured that their investment in my business venture, credit card consolidation and continued education is quite safe. I am an excellent candidate for this loan as I am an extremely responsible, reliable individual who always pays his bills on time and as my credit report shows, have never been delinquent on any of my credit accounts or loans. Monthly Net Income: Department of Commerce: $1,570 Photography Business: $850 (This amount will increase with the office space & equipment as I take on new jobs) Total monthly net income: $2,420 Monthly Expenses: Housing: $650 Insurance: $150 Car Expenses: $150 Utilities (including phone, cable & internet): $140 Food, Entertainment: $70 Clothing, Household Expenses: $150.00 Credit Cards/Loans: $455 Total monthly expenses: $1,765.00 Monthly Expenses AFTER Prosper Loan is in place: Monthly Expenses: $1,310 Prosper Loan: $425 Office Space: $370 Total Monthly Expenses with Prosper Loan: $2,105.00 In conclusion, my financial situation is very good and I have no problem meeting all my financial obligations. Maintaining my excellent credit history is extremely important to me. Repayment of my Prosper loan will be my first priority each month, so I am having the payment automatically withdrawn from my bank account. I feel that my past credit history speaks for itself, and I promise to make all my payments on time and not default on the loan. Thank you for considering my listing, I appreciate your support and faith as you invest in my future. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 171856 | 22 Year old Student needs a business Start | B | $9,800 @ 17% | Jul 18, 2007 | Withdrawn |
| 176783 | A Step Forward on Credit, Debt and Education | B | $12,555 @ 19% | Jul 26, 2007 | Withdrawn |
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