A LOAN TO EXPAND BUSINESS AND PAYOFF A BUSINESS AMEX ACCOUNT
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 11% |
| Lender Rate: | 25% | Borrower: | CABRKR03 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-09-20 | EricsCC ROI: | -40% |
| Status History | |
|---|---|
| Sep 21, 2007 | Current |
| Mar 07, 2008 | Late |
| Mar 21, 2008 | 1 month late |
| Apr 21, 2008 | 2 months late |
| May 24, 2008 | 3 months late |
| Jun 21, 2008 | 4+ months late |
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Purpose of loan: To grow and expand my mortgage lending and real estate company My financial situation: In 2002 I launched a small mortgage lending company. Our niche is subprime borrower , purchases and first-time home buyers. However, since I started the business with very little operating capital all cash flows go to paying commissions and current operating expenses. Additionally, I pay for my Mom additional personal care monthly which is require due to certain health issues she has acquired the last few years. My current personal expenses are high each month and will continue for about anothe 6 months maxiumum. As a result it has been difficult to create an operating reserve in the business that would make it possible to invest in marketing campaigns and hire more personnel.This loan will allow me to grow my real estate end of the business and increase revenue. Monthly expenses: $ Housing: $ Insurance: $ Car expenses: $ Utilities: $ Phone, cable, internet: $ Food, entertainment: $ Clothing, household expenses $ Credit cards and other loans: $ Other expenses: $ |
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