Working Capital
| Listing Information | |||
|---|---|---|---|
| Amount: | $24,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 14% |
| Lender Rate: | 20% | Borrower: | mmil444 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2007-10-10 | EricsCC ROI: | -81% |
| Status History | |
|---|---|
| Oct 09, 2007 | Current |
| Nov 27, 2007 | Late |
| Dec 11, 2007 | 1 month late |
| Jan 11, 2008 | 2 months late |
| Feb 11, 2008 | 3 months late |
| Mar 11, 2008 | 4+ months late |
| Dec 29, 2008 | Default |
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Purpose of loan: The funds from this loan will be used to purchase materials used in my erosion control business in bulk directly from the manufacturer rather than from a local distributor allowing me to save 26% on material costs. This savings will increase my profitability as well as give me pricing flexibility as I try to obtain additional customers My financial situation: I have been in business for a little under three years and have consistently grown the business and generated profits during this time. I have number of repeat customers in the commercial and governmental sectors and do not do business with home builders. Monthly net income: $ 5,500.00 Monthly expenses: $ Housing: $ 1,530.00 Insurance: $ 240.00 Car expenses: $ Utilities: $ 280.00 Phone, cable, internet: $ 80.00 Food, entertainment: $ 800.00 Clothing, household expenses $ 1,050.00 Credit cards and other loans: $ Other expenses: $300.00 |
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