Eric's Credit Community

I am applying for this loan to create a cash flow bucket for our company that is currently in expansion. We are located in Palm Beach County, Florida and we gather information for larger companies locally.   We recently expanded into a new segment of our business that has us working on foreclosed upon properties on behalf of the lenders which now have the taken back said properties. As you know foreclosures are up (300% in this area) so as you can imagine business has taken off.  However, this has actually created a cash flow problem because in one weekend we were forced to hire six people to keep up with the work demand but the clients only pay us on the 15^th of each month for work completed the previous month.

I work full time while my husband runs our company so the loan is actually coming to me which in turn I am going to loan to our company. This will be done legally and with a signed contract; however in the event the company should fail to repay the loan I can easily cover it as you will see below. Also, you should know that while we understand this is a 3 year term we are going to make equal monthly installments so the loan is paid off in 2 years. If there is a business increase beyond what it is now (We just solicited 3 new clients) then we will pay it off sooner.

I currently net between $3,000 and $4,000 a month from my job and our company is netting approx. $2,000 a month after all expenses.

Our current household bills break down as follows:

Mortgage: $1,351 monthly

Insurance: $120 monthly

Car Exp:   $150 monthly

Utilities:    $200 monthly

Phone:     $100 monthly

Food / Entertainment: $600 monthly

Clothing / Household Exp: $100 monthly

Separate from the above listed household expenses the company covers the cell phone?s, car insurance, all vehicle maintenance and lease payment on a company leased vehicle, all lunches out during business days and often dinners out plus all the ordinary office expenses such as ink and paper.