Buying excess inventory from a customer
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 38% |
| Lender Rate: | 17% | Borrower: | stevef |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-08 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jan 06, 2008 | Current |
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Purpose of loan: This loan will be used to purchase inventory from a customer. I am in the scrap business and have been doing this type of transaction for 15 years. The proceeds will go to purchase a "hard commodity." It will then be seperated by local church labor. Then sold to 3 end users. The transaction usaully grosses about 35-40% profit. After transportation, labor donation, and secure storage costs it usually nets 25-30%. The transaction is not in conflict with my employer. My financial situation: I am a good candidate for this loan because I take my obligations seriously. I consider it my moral obligation to repay every debt and have never been late in repaying my obligations. I have been employed in the same industry for 20+ years. The proceeds of this transaction allow my wife to stay at home and care for my 4 little children. About me: I am a deeply religious man who takes his duties and obligations seriously. I look forward to a long relationship with Prosper. Monthly net income: $ 13500 Monthly expenses: $ Housing: $ 2000 Insurance: $ 250 Car expenses: $ 500 Utilities: $ 125 Phone, cable, internet: $ 120 Food, entertainment: $ 400 Clothing, household expenses $ 250 Credit cards and other loans: $ 500 Other expenses: $ 375 |
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