Young entrepreneur purchasing established deli.
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 56% |
| Lender Rate: | 18% | Borrower: | jessicat30263 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | AA 5 Star Lenders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 3 months late | Origination Date: | 2007-10-15 | EricsCC ROI: | -44% |
| Status History | |
|---|---|
| Oct 14, 2007 | Current |
| Aug 30, 2008 | Late |
| Sep 16, 2008 | 1 month late |
| Oct 16, 2008 | 2 months late |
| Nov 16, 2008 | 3 months late |
|
Purpose of loan: My husband and I have decided to purchase a sandwhich shop and deli. We have managed to save approximately 30% of the funds we need for the purchase. This is an established deli that has been in business since 1986. It is currently very profitable. We are basically buying a turn key operation. I will still work my current job and my mother who is retired will manage the restaurant with one other current employee. As soon as I get this loan paid off I plan to quit my job and take over. My financial situation: I have worked very hard over the past few years to correct some financial mistakes that I made in my past. I have currently been five years with no deliquencies or late payments of any kind. I value my credit! I am also an investor in prosper and I understand from a lender's standpoint how important it is to pay the loan back and pay on time. My goal is to have this loan paid back within two years. Monthly net income: $ My income $3293.00 My husband's Income $4041.00 Monthly expenses: $ Housing: $ 1139.00 Insurance: $ 152.00 Car expenses: $ 365.00 Utilities: $ 200.00 Phone, cable, internet: $ 115.00 Food, entertainment: $ 300.00 Clothing, household expenses $ 150.00 Credit cards and other loans: $ 150.00 Other expenses: $ 180.00 Total expenses$2601.00 This will leave us approximately $4733.00 each month I really appreciate your time and anything you can help me with. Jessica |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 83424 | New Pool | D | $12,000 @ 17% | Jan 10, 2007 | Withdrawn |
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Discussion For This Listing
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