A loan to launch treVentures, a CA S-Corp
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,551.00 | Status: | Loan created |
| Grade: | HR | DTI: | 15% |
| Lender Rate: | 24% | Borrower: | TheThinkTank |
| Finished | State: | CA | |
| Funded: | 100% | Group: | AAA LGBT Families helping LBGT Families |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-18 | EricsCC ROI: | 21% |
| Status History | |
|---|---|
| Jan 17, 2008 | Current |
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Purpose of loan: Divison 1: Transaction Coordination and Virtual Assistant Services This loan will be used to launch, operate & incorporate (S-Corp election) TREVOR, inc. DBA treVentures Why: Fed up with Self Employment Taxes on Independent Contractor income. This loan will provide me the necessary funds to file Articles of Incorporation with the Secretary of State, obtain my DBA in LA County & for start-up costs to cover marketing to RE Agents and Mtg. Brokers. What service does Trevor, Inc (dba treVentures) provide? treVentures will have 4 divisions, which will provide services that I've already been providing for almost 3 years.Many of these things, I already have a proven track record of income from, and now am just going to do them thru an S-corp as a legal, common tax shelter.
Divison 2:Notarial Services This is another source of income I have been doing for 3 years now. I am a licensed Notary Public for the State of CA Additionally, I have specialized training in Mortgage Documents (justifies higher fee) as I am an "AP Certified Loan Signing Agent". Typically, for 1-HOUR of work, I can charge up to $175 to notarize all the mortgage docs. Why is there a market for this right now? Sure, people aren't buying homes right now - the buyers have dried up due to the "Mortgage Meltdown", but existing homeowners are facing a HUGE CRISIS, and many will need to refinance into Interest-Only ARMs in order to keep their home. EVERY LOAN TRANSACTION REQUIRES SEVERAL NOTARIZATIONS.There are 2 other divisions, but b/c of Prosper's character limitations, I am out of room. The other two are Personal Coaching (existing client) and Domain Acquisiton & Affiliate Marketing. My financial situation: I have an exlempary record of making on-time payments. My score is horrendously low because of my current very high utilization ratio - primarily because I work in Real Estate. Much of my income comes from closing bonuses, paid through escrow. Monthly net income: $ varies, typically $3,000/mo+ Ran out of room - ask me a question so I can post expenses |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 251428 | Help me rescue Marigold! She's lonely and I'm devastated!! | HR | $2,900 @ 35% | Dec 15, 2007 | Withdrawn |
| 254835 | Help me rescue Marigold! She's lonely and I'm devastated!! | HR | $1,000 @ 18% | Dec 23, 2007 | Expired |
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