Covering payroll for new employees.
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Withdrawn |
| Grade: | E | DTI: | 33% |
| Lender Rate: | 17% | Borrower: | islandisi |
| Finished | State: | TX | |
| Funded: | 0% | Group: | (No Group) |
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Purpose of loan: This loan will be used to bridge the gap between adding new employees and getting paid for their work. My company works in the petrochemical industry supporting plant operations and we have been asked to staff two additional positions. This loan will help offset the additional operating expenses associated with these positions while we wait for the first invoice to get paid. My financial situation: I am a good candidate for this loan because I have been very dedicated to growing this business from nothing. I started it with $1,800 and a very good reputation for delivering solid performance in the industry. The barriers to entry in this market are very high and after having gotten our foot in the door we are now poised for solid growth. I have sacrificed several times by taking personal income and covering shortfalls in the business. I'm carrying two car loans for the business as well as my personal vehicles. I have a very good job as a project manager that provides stable income for my family and covers the odd expenses for the business. This loan will not cause a financial hardship because after the invoices start being paid, the money can be recovered from the business. Monthly net income: $ 6575 Monthly expenses: $ 6103 Housing: $ 1900 Insurance: $ 386 Car expenses: $ 1697 Utilities: $ 735 Phone, cable, internet: $ 150 Food, entertainment: $ 800 Clothing, household expenses $ 150 Credit cards and other loans: $ 200 Other expenses: $ 85 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 28807 | Interim funds for new workers | E | $3,780 @ 29% | Aug 03, 2006 | Withdrawn |
| 30232 | Business Expansion | E | $3,000 @ 22% | Aug 09, 2006 | Loan created |
| 223578 | Business Expansion | HR | $12,000 @ 17% | Nov 26, 2007 | Expired |
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