Expand Successful Beekeeping Operation
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 0% |
| Lender Rate: | 17% | Borrower: | anthonysbeehive |
| Finished | State: | KS | |
| Funded: | 100% | Group: | Psalms 1:1-3 |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-09-14 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Sep 13, 2007 | Current |
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Purpose of loan: We have had a beekeeping business for 11 years. The last two years, we have experienced fast growth due to the addition of value added "Burt's Bees" type products. Please check out our website at www.AnthonysBeehive.com to get a better idea about what we do. Recent growth has led us to take the necessary steps to turn it from a "hobby out of control" to a full-time business. Things are going so well that we need additional funds to add inventory and also to purchase more beehives in order to meet demand. We manufacture our own products and produce our own honey, but need to stock up on containers and ingredients. Currently, the addition of new stores is slowed by our ability to produce product and build up inventory. We need $1,000 for lip balm ingredients and containers, $1,000 for lotion ingredients and containers, $1,000 for honey containers, lids, and labels, and $2,000 to invest in more beehives to accommodate our expansion. The $3,000 invested in inventory will allow us to produce and sell $5,000 worth of product in less than 30 days. We have customers lined up and the best part is that our product is a consumable with a proven record of repeat business and loyal customers. My financial situation: My wife is a registered nurse in the emergency room at a large hospital. She has good time on the job and great pay. I recently quit my long time job as a high school agriculture teacher and FFA advisor to pursue this business full time. We both have 4 year college degrees. We own our home and have been at the same address for 13 years. Last year, the business grossed over $32,000 and has been growing rapidly since then. Sales are on track to more than double this year. The only thing restricting our growth right now is the amount of capitol we have available to invest in inventory. The margin on the value-added beeswax and honey products we produce is very good (generally over 50%). We currently have products in 54 stores, with commitments from 59 more as soon as our inventory is adequate. These stores range from large supermarkets to convenience stores. We also sell online at www.AnthonysBeehive.com and at local farmer's markets. Monthly net income: $5,100 Monthly expenses: Mortgage: $1,100 Insurance: $300 Car expenses: $900 Utilities: $250 Phone, cable, internet: $300 Food, entertainment: $1000 Clothing, household expenses: $500 Credit cards and other loans: $300 Other expenses: $200 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 187803 | Expand Successful Beekeeping Operation | D | $5,000 @ 18% | Aug 19, 2007 | Expired |
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