Buying LED Inventory for Resale
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|Loan Status:||Paid||Origination Date:||2008-01-25||EricsCC ROI:||14%|
|Jan 25, 2008||Current|
|Feb 08, 2011||Paid|
Purpose of loan:
This loan will be used to buy LED inventory for resale.
First off let me explain what LEDs are. Light-Emitting Diodes (LEDs) are a revolutionary technology that can be used to replace nearly all of your existing incandescent, halogen, and florescent lighting. LEDs typically last 35,000 ? 60,000 hours and use approximately 5-15% of the energy required for similar incandescent lighting. These new bulbs are far superior to compact florescent bulbs because they contain no harmful substances, provide more attractive lighting, use even less electricity, and last even longer. The best part about this product is that these new bulbs are designed to fit into all of the standard lighting fixtures and sockets. That makes installing them as easy as changing the bulb. They are all under warranty for 4 years from the install date.
Through some existing business relationships I have been able to secure the rights to be the Los Angeles distributor for a major LED manufacturer. This will allow me to do both direct sales to customers and wholesale the product to retailers like lighting stores etc. In fact we already have some orders in the final stages of negotiation. In order to fulfill these orders and future orders I need to have stock inventory of the product. So I need the 10k to make this initial major purchase. From there the income from the sales will go back into working capital for future orders until I am confident enough to take this on full time.
Energy optimization is not something that is going to be optional in the future. As a society we need to reduce our consumption of energy and resources if we wish to survive and thrive. I have found that LEDs are a great way to get that started with huge potential for future growth.
My financial situation:
I am a good candidate for this loan for many reasons. First off I have a good credit score, I have never been late to pay any of my bills ever. Beyond that I have been a member of prosper for well over a year with a perfect payback record. I am well educated with a Bachelor of Business Administration from Loyola Marymount University with emphasis in Information Systems and Finance.
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