R Joseph [LAST NAME DELETED], vendor of books on Amazon.com. I have tried for business loans and personal loans through the banks to expand my business; failed because I have insufficient credit history. Note that my first line of credit was November 2004. I purchase books through local thrift stores (there are more than a dozen within an hour drive), and sell them on Amazon.com.
Average cost per book is just below $4. Average revenue per book is about $7.50, which is a profit of about $3.50 per book, around 82%. I currently have about $1500 worth of inventory and did $600 in revenue last month. That represents about $400 in revenue per $1000 in inventory. With the $2500 loan I am requesting, I can increase inventory from $1500 to $4000, which will enable me to make $1600 revenue per month. Where $900 of that is profit, I can quickly increase my inventory even more and make this a full-time business within a few months. I would seek a higher loan amount, but it makes the debt/income ratio too high, as none of the profits from this business show as verifiable income yet.
My amazon.com user-id is rangersquire, so you can view my current inventory and look at my high customer satisfaction numbers. |
