Asset Equipment Purchase
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Withdrawn |
| Grade: | A | DTI: | 62% |
| Lender Rate: | 22% | Borrower: | campk9scritters |
| Finished | State: | AZ | |
| Funded: | 2% | Group: | (No Group) |
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Purpose of loan: This loan will be used to? Add gates, add a more sophisticated heating system to the kennels, and finish funding the commercial permit for which I have been approved. My financial situation: I am a good candidate for this loan because? I am the owner and operator of a Dog Boarding Kennel and Pet Sitting business and have been in business since July 2000.I have a Bachelor of Science degree in Zoology and my partner is an Accountant and Business Mgr with 30 years experience. The business has had a steady (approx 15%) per year growth and I have projected the same growth pattern for the next 5 years. The kennel has the capacity for 50 dogs and the industry average is 70%, I am currently running at 35%, giving me plenty of room for projected growth. I have excellent credit;however, because the business is continually growing it was necessary to purchase two vehicles (within a 2 year range) , and most of the debt is incurred on these two vehicles. The larger of the two payments ($700/month) will be totally completed within 6 months. This vehicle is still in use and I anticipate no further vehicle purchases for at least 2 years. I own the property on which the kennel operates, along with a 4-bedroom house, a 2000 sq ft kennel bldg, and 10 acres of land. I have been approved for a commerical permit which will increase the value of the property approx 25%. (Property is valued currently at about $500,000). |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 261268 | Asset Equipment Purchase | A | $20,000 @ 19% | Jan 08, 2008 | Withdrawn |
| 267690 | Relist-Equipment Purchase-Dog Kennel | A | $10,000 @ 18% | Jan 18, 2008 | Loan created |
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