Starting New Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 24% |
| Lender Rate: | 18% | Borrower: | zookruLA |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-12-31 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Dec 29, 2007 | Current |
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Purpose of loan: The Company is a vertically integrated apparel business based in Los Angeles, engaged in the design, manufacturing and distribution of infant and toddler hats, t-shirts, sportswear and other apparel. The company is set to launch in January of 2008 as a single high-end brand, backed by a deep partnership with Lucien Concepts (LC), founders of Mynx, a successful high-end brand of women?s sportswear launched in 2006. The Company is poised to take advantage of exciting market opportunities in the rapidly growing high-end children?s apparel market, and plans to compete with such brands as Small Paul, Kingsley, C&C, Juicy Couture and Harajuka Lovers. My financial situation: The Company's founder spent 10 years in Corporate Finance, spanning her career over 3 major companies: The Clorox Company, Microsoft and Napster. Inspired by a passion for consumer products and owning her own business, the founder decided to enter the children?s apparel market after identifying a gap in the availability of trendy hats for infants. An idea for baby trucker hats quickly evolved into a full line of children?s apparel after connecting with business partners Lucien Concepts. As the Company plans to launch in January of 2008 at a tradeshow called Children's Club in New York City, at which time sales and revenue will commence, the founder is confident that all financial obligations will be met on a timely basis. |
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