Successful Spa Expansion Capital "A" Credit No DQ's Low DTI!
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 29% |
| Lender Rate: | 13% | Borrower: | FutureGrowth |
| Finished | State: | FL | |
| Funded: | 100% | Group: | Future Innovations |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-12-10 | EricsCC ROI: | -57% |
| Status History | |
|---|---|
| Dec 08, 2007 | Current |
| Jul 25, 2008 | Late |
| Aug 12, 2008 | 1 month late |
| Sep 11, 2008 | 2 months late |
| Oct 11, 2008 | 3 months late |
| Nov 11, 2008 | 4+ months late |
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I appreciate your review of my loan request. At the current time I?m wearing two hats; I work fulltime as a dental hygienist with a large dental practice based in Clearwater, Florida and I have my own successful business. I attended the University of Illinois at Urbana-Champaign (UIUC), located in Champaign, Illinois, where I received my BS degree in Dental Hygiene. My husband and I have been happily married 3-1/2 years and with our baby Wally, a Great Dane who is 3 years old, life is great! Additionally, I?m the proud owner of a tanning spa which I started 5 years ago. I really enjoy this business as it?s such a fun industry to be a part of. I have an opportunity to lease the now vacant space next to my salon. This new expansion possibility will enable me to not only add more tanning units, but also to expand on my services and offer more to my clients! This loan will be used for part of the build out and lease deposits. Our current website is in the process of being redesigned and will be back up and running the second week of December. My husband, who works in marketing, is also the General Manager of the spa. My clients are pampered with the best the industry has to offer, giving them superior results in a clean, friendly environment! With the new addition my clients will be able to enjoy more spa services like aqua massage, hydrating skin treatments for face and body, full service facials and permanent make-up application. These services are in high demand and I am excited to be able to offer them! I am so lucky to have a wonderful team of five employees that help me pamper and educate our clients. I have already paid the architect $5,000 on the layout and design of the new addition and as soon as I have the funding with the help of Prosper I will be able to start the addition project! I am so excited about the expansion of my business and can?t wait to get started!! We?ve been members of the local Better Business Bureau of Tampa Bay for the past 2 years. The Tampa Bay Buccaneers are our football team and we try to attend as many games as possible! If I am fortunate to be funded through Prosper, the money will be used for the following: Building Permit: $1,469 Equipment Deposit: $3,985 Build out: $15,000 Shortage: $4,000 Total Prosper Loan Requested: $ 25,000 The eight recent inquires on my credit report are all related to my business expansion, including a new credit card I just opened with no interest until 2010 to purchase the furniture for the addition; I will have the furniture paid off in July 2008. Monthly Net Income: I earn $2,850/mo net from my job as dental hygienist and $2,000/mo. net from the salon. My husband makes $3,500 as General Manager of the spa and approximately $2,000 from his part-time marketing position. Monthly Expenses BEFORE PROSPER Loan: $2,390 Housing: $845 Insurance: $125 Car expenses: $100 Utilities: $150 Phone, cable, internet: $100 Food, entertainment: $250 Clothing, household expenses: $200 Credit cards & other loans: $450 Other expenses: $170 Monthly Expenses AFTER PROSPER Loan: $3,290 As you can see, I will have over $2,460 left with which to pay my Prosper loan. I have excellent ?A? credit and a consistent, strong source of income since I also work fulltime. I am in great standing with all of my open lines of credit and I always pay my bills on time every month. Since my monthly living expenses are low I will easily be able to pay the Prosper loan. I can personally guarantee the Prosper lenders that their investment in me is extremely safe. The payments for this loan will be automatically deducted from my bank account and I will not default on this loan. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 229287 | Business Expansion | A | $25,000 @ 16% | Nov 09, 2007 | Expired |
| 232474 | Business Expansion | A | $25,000 @ 15% | Nov 15, 2007 | Withdrawn |
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