expand my family business/ state interest limit
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 33% |
| Lender Rate: | 16% | Borrower: | ghjagman |
| Finished | State: | WI | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 3 months late | Origination Date: | 2008-01-22 | EricsCC ROI: | -64% |
| Status History | |
|---|---|
| Jan 19, 2008 | Current |
| Aug 07, 2008 | Late |
| Aug 24, 2008 | 1 month late |
| Sep 23, 2008 | 2 months late |
| Oct 23, 2008 | 3 months late |
|
Purpose of loan: I am in the financing business. I am licensed to do business in Wisconsin and Iowa. I am expanding to specialize in manufactured/mobile home financing. With the subprime problems many local lenders have stopped doing mobile home financing. With approx 235 dealers in Wisconsin and Iowa the market is huge.I have registered with 5 large lenders that do nothing but mobile home loans. I anticipate between 250 - 300 applications with 25 - 30 deals funded every month. My minimum commission is $500.00 with the average being $750.00. I am estimating on the low side as usually 1 out of 5 applications will be funded but i am estimating 1 out of 10. The loan will be used to cover advertising, emailings, faxes and all expenses for 60 - 90 days. It will take between 60-90 days to do all the contacts and start taking applications. within 90 days I will have 25 -30 deals in the pipeline at all times. I look foward to any question you might have This loan will be used to? My financial situation: I have never been late on payments ever I am a good candidate for this loan because? Monthly net income: $ 9200.00 Monthly expenses: $ Housing: $ 900.00 Insurance: $ Car expenses: $ 300.00 Utilities: $ 200.00 Phone, cable, internet: $ 250.00 Food, entertainment: $ 300.00 Clothing, household expenses $ Credit cards and other loans: $ 1200.00 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 131851 | pay off higher interest loan | B | $25,000 @ 11% | May 02, 2007 | Expired |
| 183496 | expand my family business | C | $25,000 @ 15% | Aug 07, 2007 | Expired |
| 256528 | expand my family business | B | $20,000 @ 16% | Dec 27, 2007 | Expired |
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