Rapidly Growing Cash Machine Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $24,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 35% |
| Lender Rate: | 15% | Borrower: | JGoodplayer |
| Finished | State: | AZ | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-15 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Jan 13, 2008 | Current |
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Purpose of loan: This loan will be used to purchase new ATMs to expand my already thriving cash machine business. I presently have more new locations to install, and with 32 machines to service, I need cash to grow the business. My financial situation: I am a good candidate for this loan because I have 4 years experience in the cash machine business and have consistently increased my income and gained knowledge of the business. In fact, last year (2007), I increased my monthly income by almost $6,000 per month. My average Return on Investment (ROI) is over 50% where the merchant vaults the cash and I own and service the machine, and close to 100% where I own the machine and vault the cash. It takes approximately $5,000 to $7,500 per new machine, and this loan could allow me to add at least 4 or 5 new machines in the next few months. The repayment could easily come from the cash flow created by the new accounts. |
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