Funding Business Expansion
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,999.00 | Status: | Loan created |
| Grade: | C | DTI: | 8% |
| Lender Rate: | 13% | Borrower: | cushlamila |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Service Academy Graduates |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-11-06 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Nov 05, 2007 | Current |
|
I graduated from the United States Air Force Academy in 1989. Following graduation I flew for 9 years as both a T-38 instructor pilot and C-5 transport pilot. Since leaving the AF in 1998 and moving to the Houston area, I have been involved in sales in both the medical and advertising industries. Currently I am a top-performing advertising executive where I have worked for 7 1/2 years. My wife is a domestic goddess and homeschools our 3 kids. We own a rapidly growing vending company that currently comprises 150 locations and produces an average of $2500 a month in revenue. All of the revenue is being re-invested back into the business to allow for further expansion. My sales experience, discipline and fierce drive to succeed are key factors in our very rapid growth! This loan will help us purchase equipment, enabling us to sign contracts with much larger Houston-based companies. As our business is a sole proprietorship, it automatically takes on our current personal credit rating even though it has been profitable from day one. Some emergency travel expenses (a death in the family), caused a delay in a couple of payments (these have since been caught up) leading to our short-term C rating. A large bonus, big enough to pay off our remaining personal debt shown above in this listing at work, will have us completely out of debt at the end of January 2008. Our financial situation: Personal Income: $5000/month (average including quarterly bonus checks) Rent $1000 Credit Card $300 (balance of $7000/will be paid off in Jan '08) Utilities $300 Phone/Cell Phones $125 Cable/Internet $85 Food/Clothing $700 Homeschool Expenses $100 Remaining: $2395/month on average Business Income: $2500/month Credit Cards (3) $300 (balance of $6500) Charity Payments $200 Product Costs (stickers/toys/gumballs, etc) $500 Liability Insurance $30 Remaining: $1470/month We recently paid off our first Prosper.com loan in record time (10 months) so our Prosper history is exceptional. Our proven business system will allow us to pay off this one as well. Thanks for your support in advance! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 42965 | Funding Business Expansion | C | $3,000 @ 16% | Sep 28, 2006 | Loan created |
| 190322 | Funding Business Expansion | HR | $9,999 @ 16% | Aug 23, 2007 | Expired |
| 213995 | Funding Business Expansion | D | $9,999 @ 16% | Oct 14, 2007 | Expired |
| 381288 | Funding Business Expansion | D | $7,499 @ 16% | Aug 18, 2008 | Loan created |
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