Import Entrepreneur Seeks Expansion Funds "A" Credit No DQ's
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 64% |
| Lender Rate: | 15% | Borrower: | Surgany |
| Finished | State: | UT | |
| Funded: | 100% | Group: | Future Innovations |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-12-18 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Dec 17, 2007 | Current |
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Thank you for considering my loan request. I am the owner of 8th Wonder LLC, an import business in which I travel all throughout South America, particularly to Brazil and Paraguay acquiring goods from local crafts persons. These include custom guitars, handmade chess sets, tradition crafts and clothing which I then bring back to the United States and sell for a good profit both on the internet as well as locally. Over the last six months I have made several buying trips and with each increasing my revenue by 8 to 10 times the amount spent on the merchandise. All Federal Regulations are strictly adhered to and business continues to grow. In addition to my business, I attended the Utah Valley State College (soon to be Utah Valley University) located in Orem, Utah where I will receive my BS degree in International Business in December of 2008. When I was 19 I lived on my own in Paraguay for two years. I am fluent in four languages: English, Spanish, Portuguese and a Paraguayan dialect, Guarani. Since living in South America I have learned Mandarin Chinese, although not as well as the other languages. Also, I work fulltime at an investment coaching company called True North Academy, located in American Fork, Utah. We team up with major investment companies and brokers providing their clients advanced training and one-on-one coaching programs that are geared to improve the skills of those clients and enhance their trading performance. Having been married for a year, I?m very happy with how my life has turned out so far. My wife is just amazing and supports me 100% in all that I do. I love to travel and spend time with family; my family is very important to me. If I am fortunate to be funded through Prosper, the money will be used to expand my import business. Currently, I make one trip every six months. With this loan, I will be able to make 2-3 trips, allowing me to cultivate new business relationships internationally and thereby generate more income in the future. So far, I have been traveling alone, but plan to bring my wife along so that we can acquire and bring back more goods. Being funded through Prosper would allow me to grow my business and create greater opportunities for myself as well as those that I have business relationships with. The six recent inquires on my credit report are for the startup of my LLC and a new car loan. Monthly Net Income: I earn $3,600/mo. net from my sales position, $1,500 from my import business, and my wife works part-time at a pet hospital making $1,200/mo. net for a combined total of $6,300 a month net. Monthly Expenses BEFORE Prosper Loan: $3,800 Mortgage: $ 921 Insurance: $ 86 Utilities: $ 96 Phone, cable, internet: $ 80 Food, entertainment: $ 350 Clothing, household expenses $ 200 Car expenses: $ 200 Credit cards and other car loan: $ 200 Other expenses: $630 (Church donations) Business expenses: $900/mo. (Includes vehicle, gas, international calls, eBay fees, travel and lodging) As you can see, I will have over $2,500 left with which to pay my Prosper loan. I am a great candidate to repay this loan because I manage my finances well. I have a monthly budget that my wife and I adhere to, managing to save at least 20% of what we make each month and investing the rest. We have taken out and repaid several small loans for our business through the credit union and have never missed a payment on anything, ever! The monthly payments for this loan will be automatically withdrawn from my bank account. As with all my financial obligations, I would never pay late or default on this loan. Thank you for the support you have shown me with your bid! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 232381 | Need Your Help Starting My Business | A | $25,000 @ 14% | Nov 15, 2007 | Expired |
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