Business is doing great, but....
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 11% |
| Lender Rate: | 13% | Borrower: | Crisses |
| Finished | State: | NY | |
| Funded: | 100% | Group: | Business Owners Cooperative |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-29 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Jan 30, 2008 | Current |
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My last catch-22 is over -- thanks in part to my first Prosper loan. It took about 6 months, but then referrals started pouring in. Then I was able to pay off my loan in a jiffy, freeing up your money to help other people. Thanks so much, Prosper Lenders!! I'm running a very successful referral-based web design/programming firm, and it's time to make it to the next level -- I need help! I have a billion terrific ideas to develop my business beyond its current limitations. The problem is I'm so tied to the day-to-day operations of my business (sales, closings, production, networking....), that I need a little breathing room so I can move to higher-level planning and sales roles rather than being the janitor AND CEO (and everyone in-between). I have several inexpensive consultants lined up to help when jobs come in. What I am looking to do is get a loan so I can ease my workload: I have some ideas that will generate residual income to help the company float between jobs, and that means I have to pay those consultants NOW to take some of the menial labor off my plate so I can set up sources of recurring income for my business, and pay off your generous loan later. I can't talk about my plans directly right now, because a larger well-staffed business could steal them, but I can use some seed-money for floating the consultants so I can set up several new websites, design & purchase a few promotional products, and put out some ads in all the right places (I have some great inexpensive ideas, I just need TIME, and I can buy time but then I need money!). Last time I needed help, Prosper Lenders were there to help out. Like I said last time: to get business, you have to spend money. Advertising, attending Chamber events, networking, printing materials, paying the bills, all add up to a good bit when it comes down to the wire. My needs are pretty modest in the larger scheme of things. Thank you for your time! I hope you're all having fun out there! PS -- You have to love how the credit rating reporting works. 1) I did well last year, but haven't done my final 2007 finances/taxes yet, so I'm using my 2006 income number -- so my debt-to-income is off (higher than it should be: I show $25K consulting income without all the numbers in Quickbooks yet, and not counting child support). 2) I moved a $2500 credit line card with a 30+% interest rate to a $3000 card with a 12.x% rate credit union credit line. I have $500 more in credit line than I did, so I'm penalized, even though my monthly payments are MUCH lower, and it's easier for me to pay it down. 3) I paid down my card significantly last fall and purchased that new Apple computer I mentioned in my last listing WITHOUT needing to ask Propser Lenders for a loan. I'm paying the card down that I used to buy the computer, but paying for new business materials (did I mention Quickbooks?) every time I free up some money. I paid off Prosper, I paid off Bill-Me-Later, I have 2 credit cards ($3500), and a federal student loan (around $4K). Not sure where they get 6 lines of credit from -- time to clean up my credit reports. What I don't have in money or credit line, I have in chutzpah, vision, and business integrity, and that's not measured in my credit score. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 18676 | Fund my struggling business | C | $1,000 @ 15% | Jun 09, 2006 | Loan created |
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