Fund my struggling business
| Listing Information |
| Amount: | $1,000.00 |
Status: | Loan created |
| Grade: | C |
DTI: | 6% |
| Lender Rate: | 15% |
Borrower: |
Crisses
|
| Time Left: | Finished |
State: | NY |
| Funded: | 100% |
Group: |
Business Owners Cooperative
|
| Loan Information |
| Loan Status:
| Paid |
Origination Date:
| 2006-06-20 |
EricsCC ROI:
| 14% |
| Status History |
| Jul 12, 2006 |
Current |
| May 30, 2007 |
Payoff in progress |
| Jun 09, 2007 |
Paid |
|
There's a little catch 22 in business --
To get business, you have to spend money. Advertising, attending Chamber events, networking, printing materials, paying the bills, all add up to a good bit when it comes down to the wire.
The catch is that the billable time I work now is income next month. I can't buy advertising on a "I'll gladly pay you in July for advertising in June" basis. May was slow, so June is a struggle even if business is picking up, and I can't afford to let my advertising go.
I have about 7 proposals out on bid, most of them installing e-commerce websites for small-to-mid businesses, and several of them are subcontracts with small design firms who will hire me again in the future. While competition in my market is high, I have an impeccable work ethic, excellent browser-side manner, canny sense of humor and an innovative new advertising campaign out through the local Chamber. It's something unusual and very "outside the box" which is something people should strive for in a design related industry -- people are put to sleep by ads that have no outstanding features. I know I'm going to turn heads and get attention very soon. I am coming up with contingency plans in case too much work comes in.
I need funding to attend Chamber events, print ad materials, generate more income, and pay deposits for subcontracting if it becomes necessary. At some point that Catch-22 is going to turn around and I'll have enough money from last month to get through the next one. When that happens, I need to upgrade my desktop computer ;)
Thank you for your time! I hope you're having fun out there! |
| Borrower's Other Listings |
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$3,000 @ 13% |
Jan 16, 2008 |
Loan created |
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