Business Operating Capital
| Listing Information | |||
|---|---|---|---|
| Amount: | $22,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 17% |
| Lender Rate: | 14% | Borrower: | igolfsc |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-09-25 | EricsCC ROI: | -38% |
| Status History | |
|---|---|
| Sep 23, 2007 | Current |
| Dec 10, 2007 | Late |
| Dec 21, 2007 | Current |
| Feb 09, 2008 | Late |
| Mar 01, 2008 | 1 month late |
| Mar 28, 2008 | 2 months late |
| Apr 26, 2008 | 3 months late |
| May 27, 2008 | 4+ months late |
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Purpose of loan: I own a Money Mailer Franchise (Direct Mail). I am just finishing our first year of mailing, each being profitable, but needing to have a cash flow available till the accounts receivable is collected each mailing. I have to pay for the expenses (royalities, printing and postage) at the time of the order, receivables are running 20-45 days. My financial situation: I am an experienced business person with expertise in advertising. Each mailing, our revenues are profitable and growing. Prior to purchasing this franchise, I was a partner for 4 years in a company that owned 3 WB television stations. These were sold in Sept 06 to CBS. I purchased this franchise upon agreeing to sell. Monthly net income: $ 6700 Monthly expenses: $ Housing: $ 1700 Insurance: $ 285 Car expenses: $ 1100 Utilities: $ 200 Phone, cable, internet: $ 101 Food, entertainment: $ 800 Clothing, household expenses $ 400 Credit cards and other loans: $ 160 Other expenses: $ |
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