Eric's Credit Community

Purpose of loan:

Thank you for looking at my loan! I?ve been an accountant for 12 years, with a BS degree in accounting, and have passed the CPA exam. Last year I decided to start my own business, an Accounting & Tax practice. My plan when I started was to work full time and build this business on the side until it could provide for us alone. For few months I managed to do so, but the business expanded, and I couldn?t run the business and keep a full time job, so I stopped working full time, and took out a part-time contracting with my employer. The business is expanding, so I am ready to take it to the next level by opening an office and hiring 2 employees.

I need this loan as a working capital for the first 3 months. Here is a breakdown:
Deposit & Rent          8300
furniture                       6000
Utilities                        1200
Marketing                    1500
Recruiting & training 1000
Total                          $18,000

My financial situation:

I recently got married though we didn?t have a big/fancy wedding, we spent $15,000 using shared credit cards that is more than half my high credit balance. We own a house with equity around $40K. The house is under my husband name. I don?t have long credit history but I always pay my bills on time and never missed a payment. I already paid off 2 credit cards.


Monthly net income: My husband is a self-employed with income range from $4K-8K, which pays for more than half of the expenses. My business income is 4,000 mini., up to $5,500. (I'm on a long-term contract so I get paid by the hour with mini. 25 hours/week @ $40/hr, which make up my base guaranteed income).

Monthly household expenses: $ 5,850.00 (combined).

Housing: $ 1,650.00
Insurance: $ 200.00
Car expenses: $ 650.00
Utilities: $ 200.00
Phone, cable, internet: $ 250.00
Food, entertainment: $ 600.00
Clothing, household expenses $ 300.00
Credit cards and other loans: $ 1,500.00 (our goal to be debt free in 3 years).
Other expenses: $ 500.00