Bed & Breakfast Flower Farm Expansion "B" No DQ's DTI Exp'd!
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,500.00 | Status: | Loan created |
| Grade: | B | DTI: | 1,001% |
| Lender Rate: | 14% | Borrower: | familyfarm5 |
| Finished | State: | WA | |
| Funded: | 100% | Group: | Future Innovations |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-11-26 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Nov 23, 2007 | Current |
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Hello & thank you for stopping by! My husband & I purchased a beautiful 10 acre Flower Farm in Washington State over a year ago. The farm consists of the main farm house, a cottage, greenhouse, pond, fruit & nut trees, various types of berry bushes & thousands of gorgeous flowers! We have over 100 different types of flowers; mainly Day lilies, Peonies, Roses, Clematis, Iris & Hydrangeas. We also have over 50 types of Woody Ornamentals; such as Lilac, Magnolia, Butterfly & Beauty Bush, Ornamental Grapes, Bamboo, Quince & Kerria, as well as full nursery stock of flowers, shrubs & trees. We have spent our savings & used credit cards to make many improvements, including turning the Cottage into a self-catered Bed & Breakfast. We have also found markets for the fresh cut flowers, the bulbs & the nursery stock. The Cottage is a big hit & has been rented out on weekends for the last 3 months & we have reservations into February of 2008! We are now ready to take the next step & have a website built; flower catalog created; some minor greenhouse repairs completed; & payoff the high interest credit cards. I run the Bed & Breakfast & flower farm while my husband works FT as a warehouse manager at a large manufacturer earning $48K/yr. My husband?s income is more then adequate to cover our household, farm & vehicle expenses. Our dream is to fully market the Cottage as a Family Vacation Getaway on a Farm. We have many friendly farm animals for children to hold & pet among lovely flowers & shade trees. We really enjoy hosting vacationers needing to relax & unwind in this tranquil atmosphere! Monthly Net Income from the Farm: Flowers & bulb sales $300/$500 for 7/mo.; Cottage rental $500/$1,000/mo. for 3 months. Spring & summer 2008 will be our first seasons in full operation & we expect a dramatic increase in revenue. We have over 4,000 pots of nursery stock to sell; plus 4 acres of bulbs & ornamentals. The public record on my credit report is from a bankruptcy (discharged in 2003) after our home in Molalla, Oregon burned down & insurance did not cover the associated costs. The numerous inquires are my recent attempts to obtain a small business loan before learning of Prosper. If I am fortunate to be funded through Prosper, the funds will be used as follows: $3,165 ? Eliminate credit card debt $2,500 ? Professional website design & hosting $1,000 ? Green house roof & plumbing upgrades $ 750.00 - Roadside Signs for the Flower Farm and Cottage DTI Explained: I listed my income at $1 because new businesses are difficult to verify w/ Prosper. Everything I?ve earned so far has gone back into the farm w/out drawing a salary. I am quite proud of my new venture & its success thus far. The farm generates more then enough income to easily pay back this loan each month. I have over $20,000 of nursery stock to be sold next spring, plus the bulbs, cut flowers & Cottage rental. I personally want to reassure the Prosper lenders that their investment in me is extremely safe. This loan will be a top priority each month w/ automatic payments. I sincerely promise to make all my payments on time & I would never default on this loan. Thank you for supporting my business venture!! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 227154 | Flower Farm Bed & Breakfast | B | $20,000 @ 15% | Nov 06, 2007 | Withdrawn |
| 227713 | Stay at Home Mom Needs Help to Grow Business !! | B | $7,500 @ 15% | Nov 07, 2007 | Withdrawn |
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