Need Working Capital for Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 23% |
| Lender Rate: | 19% | Borrower: | businessmind1 |
| Finished | State: | TN | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-18 | EricsCC ROI: | 17% |
| Status History | |
|---|---|
| Jun 18, 2008 | Current |
|
Purpose of loan: This loan will be used to increase the cash flow for my IT Consulting company. We have just acquired three new customers and I need cash to purchase equipment and to cover expenses for these projects. The remaining funds will be used to launch a new marketing campaign to acquire additional clients. All three projects will be completed within the next 7 months and will yield a profit of over 35k which I will use to repay this loan. My financial situation: I have EXCELLENT CREDIT although my rating is a "D". The low rating is due to the fact that I current have a high usage of my existing credit because I've had to use my personal credit to fund my business. I have NO LATE PAYS, NO BANKRUPTCIES,or any derogatory information on my credit report. I have substantial income and a LOW DTI ratio and I'm more than capable of repaying this loan in a fairly short period of time. Monthly net income: $ 8,036 Monthly expenses: $ Housing: $ 809 Insurance: $ 120 Car expenses: $ 1030 Utilities: $ 250 Phone, cable, internet: $ Food, entertainment: $ 100 Clothing, household expenses $ 150 Credit cards and other loans: $ 1100 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 217307 | Cash Flow for Business- I ALWAYS PAY ON TIME! | D | $25,000 @ 10% | Oct 19, 2007 | Withdrawn |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|