Upgrading business property
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Cancelled |
| Grade: | AA | DTI: | 34% |
| Lender Rate: | 12% | Borrower: | qqboss |
| Finished | State: | TX | |
| Funded: | 96% | Group: | (No Group) |
|
Purpose of loan: This loan will be used to... I am about to sign a lease for another 5 years on my business. The one big request from my customers is they would like a comfortable place to enjoy my cafe AND be able to smoke, which I don't permit inside. I want to install a patio in the space next to my cafe because cafe's with patios generate ~50% more revenue then same style cafes without them. Even if it only generates 20% more business, a 10% increase in business will be enough to repay the loan without impacting any other aspects of the business. Heaters and fans will make it a fully year round place for customers. My financial situation: I am a good candidate for this loan because? I have already been in business for close to 5 years, beating the 61% three year failure rates on non-franchise restaurants, with people starting to come to me wanting to franchise off of me. I am committed to growing my brand in the DFW area and expanding beyond as the time comes right. Part of the reason for my success is knowing not to over-commit when I am unprepared, so I have always lived within my means, never failing to pay off my credit cards- my only debt is my house and my business. My credit cards have been charged up a bit more than normal at the moment because my mother had a stroke and I am having to cover some extraordinary expenses related to medications, treatments, and such that are beyond her insurance coverage. I originally came to Proper with the intent to loan money, but decided that this looks to be an excellent opportunity to leverage the growth of my business, without having to deal with the banks that refused to touch me when I was just starting out - even those that "specialized in first time businesses" (NOW they want my business??? They still won't give me any better rate then I can get here, though.). I hope one day to be a Prosper success story from both sides of the house. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 249800 | Upgrading business property | AA | $22,000 @ 11% | Dec 12, 2007 | Expired |
| 273376 | Upgrading business property | AA | $20,000 @ 11% | Jan 29, 2008 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|