Small Business w/ Secure Govt. Purchase Orders needs Capital
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 38% |
| Lender Rate: | 27% | Borrower: | rustyfords |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Business Owners Cooperative |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2006-06-12 | EricsCC ROI: | -64% |
| Status History | |
|---|---|
| Jul 12, 2006 | Current |
| Sep 27, 2006 | Late |
| Oct 17, 2006 | 1 month late |
| Nov 13, 2006 | 2 months late |
| Dec 14, 2006 | 3+ months late |
| Jun 03, 2007 | Default |
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I am the owner of a new, small business started in Ocotber 2005. We are based in Conroe, TX and manufacture and sell lab supplies to public, private and home schools. We have a presence on the web as well as on eBay. Our monthly receipts pay for the upkeep of the business itself and all associated bills, with the exception of a salary for me. Until it does pay my salary, I will continue to work a full-time job for a great, small company in Houston. I also work a third job on weekends. We started this business with limited capital and have done remarkably well. We recently won a couple of "not so small" bids from school districts here in Texas and need some capital to build these orders. We have the Purchase Orders in-house now. This is not projected business. This is business that has been awarded to us. We could pay the principle on a loan back pretty quickly once our customers pay us. This would make for a quick, tidy and very very secure loan for someone. I have over ten years of experience in this field, with the last 7 of them working for the oldest and largest of the science lab supplies. I am heavily connected in this field and anticipate many more such orders to come my way as things progress. Why the somewhat low credit rating for me? Up until a few months ago, I had a credit score around 700. I was laid off from my previous employer last year and have opened, and run this business since then. I have literally, everything I own in this business and will make it succeed at all costs. We have a new baby who has needed some very expensive medical testing done and this has strained things. But....here's the thing you should know. I PAY BACK MY DEBTS NO MATTER WHAT. The lowered credit rating has come on some 30 day late payments to the big corporate lenders who have my house and car notes with. They are getting caught up now that I'm working three jobs. As things got very tight, I made sure to pay personal loans on time, etc. I let the big, corporate lenders slide a bit out of neccesity, but, as I said....they're getting caught up as well. |
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