Loan Equipment Consolidation
| Listing Information | |||
|---|---|---|---|
| Amount: | $22,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 26% |
| Lender Rate: | 10% | Borrower: | JWal44 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-09 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Jan 08, 2008 | Current |
|
Purpose of loan: This loan will be used to pay off two high interest equipment loans for a coin laundromat. My financial situation: I am a good candidate for this loan because I am responsible with credit and pay my bills on time. I want to reduce my current equipment loan expenses to help generate additional cash flow from the business. With the refinancing of these loans, I will have all of the equipment paid off within 3 years and will have 5 years remaining on the building lease for creating additional free cash flow. Any additional cash flow generated from the refinancing will be used to build a cash reserve for expansion or to repay debt. Monthly Personal Salary $5525 - Take Home ($8250 month Uncle Sam & 401k take about a 1/3) Mortgage & Escrow $1250 ($2500 - 1/2 paid by girl friend) Utilities $350 ($700 - 1/2 paid by g/f) Car Insurance $100Food (Grocery Store and Eating Out) & Entertainment $500 Other Credit Card Debt $1000 Gas Expense $250 Personal Expenses $500 Investment Expenses $500 Monthly Personal Positive Cash Flow $1175 Monthly Business Revenue $6000 Rent $1600 Utilities $1100 Insurance $100 Misc. $250 Loan Financing $1900 Monthly Business Positive Cash Flow $1050 |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|