Start-up Costs
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 13% |
| Lender Rate: | 10% | Borrower: | WindyCityProp |
| Finished | State: | CO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-04 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Jan 04, 2008 | Current |
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Purpose of loan: This loan will be used to pay off a high-interest credit card that was used to fund start-up expenses for a real estate investment business that I'm starting. As you probably know, it's difficult to get credit for a new business, even if you have excellent credit history as I do. I am starting this business to increase my income so I can afford to put my kids (see photo) through college. With my current income, there is simply no way to save enough to accomplish that. My financial situation: I am a good candidate for this loan because: 1. I have excellent credit, own my own home, and pay my bills on time; 2. The payment for this loan will be lower than the payment I already make on the credit card that has this balance; 3. I have already closed on two single family homes that will each net me over $15,000 each when sold. I am selling these below market value, so the certainty that they will sell is high. 4. I have cash reserves. |
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