expanding an existing business
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 57% |
| Lender Rate: | 11% | Borrower: | dmmaintenance |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-11-19 | EricsCC ROI: | -69% |
| Status History | |
|---|---|
| Nov 23, 2007 | Current |
| Aug 03, 2008 | Late |
| Aug 20, 2008 | 1 month late |
| Sep 20, 2008 | 2 months late |
| Oct 20, 2008 | 3 months late |
| Nov 20, 2008 | 4+ months late |
|
Purpose of loan: I will be using this loan to acquire more cleaning accounts. I have found a seller who will sell me acounts worth $2000/month. He is willing to sell these accounts at 5 times the monthly billiing or $10,000. (explain what you will be using this loan for) My financial situation: I have always strived to maintain good credit and always pay my bills on time. I already make enough money at my current job, to take care of my current expenses. I also own an office cleaning business which is the business I would like to expand. I've been running this cleaning business for 5 years, so I already have pretty good experience with it. Please note that although there is a 57% Debt to Income ratio, it does not include the additional monthly income which I will begin receiving immediately. The additional $2000 per month production will certainly be enough to cover the cost of the loan. (explain why you are a good candidate for paying back this loan) Monthly net income: $ 1400.00 Monthly expenses: $ Housing: $ Insurance: $ 60.00 Car expenses: $ 0 Utilities: $ 0.00 Phone, cable, internet: $ 50.00 Food, entertainment: $ 100.00 Clothing, household expenses $ 50.00 Credit cards and other loans: $ 150.00 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 216958 | buying a small business | AA | $25,000 @ 15% | Oct 17, 2007 | Withdrawn |
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