RE-listing: Startup money needed for Business.
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 18% |
| Lender Rate: | 20% | Borrower: | garet |
| Finished | State: | TX | |
| Funded: | 100% | Group: | 435 Supporting Lenders - Get FUNDED @ LOWER % than ANY group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-06-27 | EricsCC ROI: | 20% |
| Status History | |
|---|---|
| Jul 12, 2006 | Current |
| Jan 15, 2008 | Payoff in progress |
| Jan 18, 2008 | Paid |
|
Well, To those that funded this loan last week, thank you very much. It seems there was a "glitch" and Prosper showed me as making $435k a year. I tried to explain that if I made that amount of money, I would not need to apply here. Be that as it may, the only alternative was to re-list to fix the error. I make 43,500 a year and have 3 credit cards that are paid off at the end of every month. This does NOT include my wife's income of almost $50k a year as I wanted to make the posting as simple as possible. We still can afford the same amount, and this loan is not a problem to pay. My debt to income level is low because that is the only way to live, in my opinion. I am not sure why it says 18%, but I am figuring it is how they calculate. I have worked very hard to get my credit back to where it is now and am proud of that fact. I will re-post the original text below, but I wanted to explain why you are all seeing this again. My wife and I are very excited. We are bidding out the work to use this money now and also have already set aside the first payment. We don't waste time on paying bills off...heh Again, thank you for your consideration and I look forward to doing business with all of you.On a side note, I was having so much fun here, I already loaned money myself! We can afford that, we just cannot put down $15k at once.Thank you all for your patience. Let's make money together. Russ +++++++++++++++++++++++++++++++++++++++++++++++++++++++ Original Posting: First off, this is not my first walk down the road to starting a company, this is just the first one where the company was mine (and my wife's). I have been successful, and I have failed in the past. I have been very fortunate not to fail too hard because I had good people around me that lent good advice and I was able to bounce back. The last company, we took public but our chief prospect was Enron, so you can see where that went. We were able to sell the company but not before we had to close shop. I had some pitfalls in my credit back then. Experian has me at a rating of 689, but it was below 500 2 years ago. I have worked hard to get back to where it was before and am very proud of that. That brings us to where we are now. A friend recently "woke me up" after he attended a lunch meeting and said, "Russ has a great idea and is the type of person that can make it happen, he just needs to pull the trigger", meaning I need to get this thing going and now. I can afford to put the money into the company, my wife and I are very well employed, but I cannot drop this kind of cash all at once. We save about $1500-$2000 a month now, in different accounts. We will stay at our current jobs while we build this business on the side. To drag it out over 18 months would put us behind; so, I come here to all of you. I want to get my company going. I have people working on a lot of details, but I need cash to get the high-end technical (SQL) back-end of our software going. I have some people working on it, but weekends and nights are not enough if we want to make our schedule. The funds will be used to pay expenses to move production along on the websites at a faster pace so we can get our services to market. The loan is not a risk for us as we have more than enough finances to maintain the payments. My wife and I get excited when we go to Taco Bell and spend 3 bucks on lunch. We can afford this, and she has given me the okay to do this, in fact, she encouraged it. We have already allocated the funds plus 15% more to make sure we also have a buffer. We are looking for people to take a chance and help us get some operating capitol to put us onto a faster schedule. We can survive without this, but it is in our best interest to push the timelines up. Thank you and god bless! Russ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 19667 | Startup | C | $15,000 @ 20% | Jun 14, 2006 | Withdrawn |
| 19746 | Startup Business | C | $15,000 @ 19% | Jun 14, 2006 | Withdrawn |
| 19869 | Starting a new company, need Investors | C | $15,000 @ 22% | Jun 15, 2006 | Withdrawn |
| 19914 | Need starting capital for new company | C | $15,000 @ 20% | Jun 15, 2006 | Withdrawn |
| 20875 | Re-listing: Need capital for Startup. | C | $15,000 @ 20% | Jun 21, 2006 | Withdrawn |
| 20881 | RE-listing: Startup money needed for Business. | C | $15,000 @ 20% | Jun 21, 2006 | Withdrawn |
| 239212 | RE-listing: Startup money needed for Business. | B | $15,000 @ 8% | Nov 28, 2007 | Withdrawn |
| 239286 | Refi and Home Improvments | B | $15,000 @ 8% | Nov 28, 2007 | Withdrawn |
| 239298 | 2nd Time Listing: Refi and Home Improvments | B | $15,000 @ 8% | Nov 28, 2007 | Withdrawn |
| 239452 | 2nd Loan: Refi Business Expenses | B | $15,000 @ 17% | Nov 28, 2007 | Withdrawn |
| 241236 | 2nd Loan: Refi Business Expenses | B | $15,000 @ 17% | Nov 30, 2007 | Withdrawn |
| 241622 | 2nd Loan: Refi Business Expenses | B | $15,000 @ 17% | Dec 01, 2007 | Expired |
| 248797 | Consolidating Servers | B | $15,000 @ 17% | Dec 11, 2007 | Withdrawn |
| 248834 | Consolidating Servers | B | $15,000 @ 17% | Dec 11, 2007 | Expired |
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