Business Loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Withdrawn |
| Grade: | E | DTI: | 20% |
| Lender Rate: | 26% | Borrower: | kingent |
| Finished | State: | GA | |
| Funded: | 0% | Group: | Business Owners Cooperative |
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First off, let me thank you for giving me the opportunity to inform you a little about myself and my business. I am a young business man in a small town named Eastman Georgia. I started in 2004. I have 7 years of experience dealing first hand with computer systems. I managed a school system for about 4-5 years. Their systems where always having problems, however I kept them up and going. I have signed recommendations from the school systems as well as from most of the major Businesses in my area. I help manage computer systems with Pace America and Nation Wide Trailers. I also help a few government agents that are associated with the Department of Defense and Department of Transportation. Just to tell you a little about my professional life, I own a computer company named [LAST NAME DELETED] Enterprises. The main function is custom building computer systems and repair, however we also offer a variety of services like internet service and web hosting for example. Now let me address the credit issue. There are two things on my report that is causing me to have an E credit rating. One is from Chase Bank and one is from Capital One posted one late payment a piece. I was told I should be able to get both of those dropped off. The short version of what happened is I got so busy with the business deals that were happening I simply forgot to go online and post the payment. I was told that if I pay off the cards and pay my balance, if any, on time for the next six months they would take it off my credit as a one time courtesy. The last thing that is affecting me is my number of inquiries. Apparently a company gave my information out, there are a large number of inquiries that I never approved by myself. The Credit Bureau Bureua claims that they will remove the inquiries and shouldn't show up next month. Just as soon as those few things drop off, my credit will be back where it needs to be. Other than the instance above I am never late on my payments. I hate being in debt so I want to pay back debt as soon as possible. I'm sure you have noticed that I have the highest rate that my state allows. This is because I do not plan on having the loan long term. I plan to have it no more than six months to a year. I will let my next few houses pay it off. The reason for this loan is to consolidate debt and expand my business. I have about $4,000 worth of debt that I need to consolidate from my credit cards. The rest will be used to launch my web based part of my business. I'm sure your familiar with Dell, Tiger Direct, Newegg, Cyber Power, etc... They all have very unique and High tech sites. I plan to take a combination between these and others and make it extremely user friendly. The money will mainly be used to pay the lawyer to type the Agreements( Terms & Conditions, Credit Card/Check Draft Agreement, Return policies, etc...), as well as to pay for the initial hosting and security fee's. I will do most of the actual programming myself. The security programming will be left to a company called Website Pro's. They specialize in website security. Normal sites of this magnitude can easily top $15k just for one page. I get it all for cost because of the company that I am considering merging with. The website will have everything drop shipped from the manufacturer so there is no need to buy stock. My actual computer business keeps enough computers and laptops in stock so that when someone wants to buy more than just parts and wants to custom build one online, I can build it immediately on site and ship it the next day. I test all of my systems to make sure they can handle what they are being purchased for. (Gaming systems get the most graphicly challenging game installed with the maximum settings, if any lag is noticed then we tweak for optimal performance) I specialize in gaming systems. The site is almost done, just has a few bugs to be worked out. It is going to be huge. Dustin |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 20744 | Business Loan | E | $8,000 @ 26% | Jun 20, 2006 | Loan created |
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