Need Cash for expanding business and other various expenses
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,780.00 | Status: | Loan created |
| Grade: | B | DTI: | 32% |
| Lender Rate: | 13% | Borrower: | OnTimePay |
| Finished | State: | AL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-11-30 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Nov 30, 2007 | Current |
|
Purpose of loan:
The loan is for various reasons. One is to help my son expand his computer repair business. Needs more work space that needs to be rented, and I want to invest more money in that business. Another purpose is some dental work that is required for my youngest son. I have dental insurance, but this is to cover extra costs. As you can see, I am highly involved in my kids' business, until they are stable enough. I am using Prosper because rates and payments are acceptable for me. My financial situation: I am a skilled worker at a local specialty furniture maker. They build furniture for hotels, hospitals and government. I make around 1,700 a month, and my husbands disability payments are 1750 net. So together we make over 3400 a month. My husband worked as a welder until he hurt his back. I also own my home, which I paid off in 6 years. The house is worth $175,000, taxing estimates, but in my neighborhoods homes are sold for around 160,000 to 200,000 , smaller homes. I am still paying off some of my furniture I purchased for my middle son, so my credit is B from A. I paid off another loan I had with Lowes, which was 6 month no interest. Ofcourse I pay it on time as agreed. I never had a credit card, nor do I intend to. I have applied for bank loans, but they will not give me the rates I ask for. I am not thinking of getting a home equity either. Its only for emergencies. Both I and my husband are covered by insurance, and my husband also has disability insurance and weekly payment covered from employer. I also drive used cars which I own, so no payments. From what I understand, you will get your interest paid even if I pay this off early, which I plan to. You will get the requested interest on your money. It is a deal My monthly budget: Mortgage/rent: 0$ Insurance:330 $ car, house and health : Blue Cross Blue Shield (150) ; Geico (30); House (150) Car expenses:155$ for gas and oil changes Utilities: 180 $ power, water, gas Phone, cable, internet: 50$ phone and cable Food, entertainment:400 $ around 100 a week max Clothing, household expenses 50 $ or less Credit cards and other loan payments:200$ for furniture I ordered, due to payoff early and previous Prosper Loan. Other expenses:0 $ --------------------------------------- Total monthly expenses: less than 1450 $ at most |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 130403 | Need Cash for new business | C | $4,580 @ 18% | Apr 30, 2007 | Loan created |
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