Business is Booming
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 26% |
| Lender Rate: | 10% | Borrower: | chado |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-22 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Jul 19, 2008 | Current |
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Purpose of loan: This loan will be used to? Fund business growth. My situation: I am a good candidate for this loan because? I am a recent college graduate, BBA-Finance, who is newly employed as a derivatives accountant at a very large investment company. My new income is extremely nice for a single person at $45K. But, my college debt is stunting growth of a young business. I have a personal loan with prosper with excellent payment history. My credit obligations are of my top concern. My previous employment was for 3 years with one company, 4 years with the previous company. About the business: I am in the business of... You may have heard recently in the news that gas stations are starting to charge an extra $0.15 to $0.30 per gallon to people paying with credit cards (recent 20/20 special). The price of gas will only go up, soon all gas stations will be doing this (they can no longer afford to pay these credit card fees for you). I have developed a solution where customers can have access to cash, at no charge, and they pay the discounted price for fuel. No ATM fees, no more-expensive gas. Better yet, I make about $0.35 per transaction. I have been running successfully at 2 locations for about 2 months. At the moment, I am taking in roughly 50 transactions a day, or $525 a month (with no labor costs). Each launch costs about $2500, so this money will fund 2 additional locations. It will take less than 5 months for this loan to break even. Location scouting is fairly easy. Gas station owners see additional value because more customers are entering the store, thus, they will sell more goods which is how they profit. Monthly net income: $ $ 3000 Monthly expenses: $ Housing: $ 675 Insurance: $ 50 Car expenses: $ 250 Utilities: $ 0 (all bills paid in rent) Phone, cable, internet: $ 50 Food, entertainment: $ 200 Clothing, household expenses $ 100 Credit cards and other loans: $ 500 Other expenses: $ 150 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 37941 | *credit consol* starting small to prove myself to Lenders! | D | $3,000 @ 24% | Sep 08, 2006 | Expired |
| 54771 | Pay off credit card | D | $2,000 @ 21% | Oct 30, 2006 | Withdrawn |
| 54774 | Pay off credit card | D | $2,000 @ 17% | Oct 30, 2006 | Loan created |
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