Pay down debt/Expand Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $12,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 32% |
| Lender Rate: | 14% | Borrower: | buckscout |
| Finished | State: | AL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2007-11-05 | EricsCC ROI: | -47% |
| Status History | |
|---|---|
| Nov 03, 2007 | Current |
| Aug 20, 2008 | Late |
| Sep 06, 2008 | 1 month late |
| Oct 06, 2008 | 2 months late |
| Nov 06, 2008 | 3 months late |
| Dec 06, 2008 | 4+ months late |
| Dec 29, 2008 | Default |
|
Purpose of loan: 1. Pay down debt so I have more working capital 2. Expand/promote business Financial situation: I am had my own business since Jan. 2005. Actually, a few months before that but I formed my LLC in Jan. 2005 after working with nonprofit organizations for over 25 years in marketing and fundraising. I decided I would rather work for myself so I took a leap of faith and am doing well. I have regular clients that pay me on a monthly basis and am acquiring new clients on a regular basis. I get a lot of "by word of mouth referrals". Over the past 6 months, I have found a rare niche working with small cities and towns who need assistance acquiring funds for infrastructure and ongoing needs. I have just acquired 3 public entities that I am helping with grant development and public relations. There are 4 other potential clients in the works for the same needs. I work all across the state of Alabama and beyond the border of Alabama. I still work with nonprofits but can see that what I do is rare and can find no one else who works with municipalities on their needs like I am able to do. This has become an area that I excel in and fill a void. I have formed an alliance with a group of engineers which refer me to the people they are working with on infrastructure needs like sewer, water lines, water pump stations, fire stations, etc. I am married so I am not the only bread winner in my household. We have no children, just 2 dogs and a cat so I am able to pursue my profession and not have to worry about paying all the bills. I have regular clients that provide no less than $3,500 monthly plus I do work as needed for other organizations and small businesses. I also conduct training seminars that bring in extra money. My monthly expenses below are based on my home office which saves me a lot of money in office expenses. I pay toward home expenses for my home office. Actually, my "office" is my car as I go to my clients. Monthly net income: $ 3,800 Monthly expenses: $ 1,540 Housing: $ 300 Insurance: $ 55 Car expenses: $ 250 - gas Utilities: $ 40 Phone, cable, internet: $ 130 Food, entertainment: $ 75 Clothing, household expenses $ 200 Credit cards and other loans: $ 450 Other expenses: $ 40 |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|