Capital Investment Into 20 Year Old Company
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,150.00 | Status: | Loan created |
| Grade: | B | DTI: | 74% |
| Lender Rate: | 17% | Borrower: | Fossil_Creek_Stone_Co |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2008-01-28 | EricsCC ROI: | -53% |
| Status History | |
|---|---|
| Jan 26, 2008 | Current |
| Aug 12, 2008 | Late |
| Aug 30, 2008 | 1 month late |
| Sep 29, 2008 | 2 months late |
| Oct 29, 2008 | 3 months late |
| Nov 29, 2008 | 4+ months late |
| Dec 29, 2008 | Default |
|
We are a family owned and operated graphics and publishing company, expanding into other creative products avenues. We have a long track record of successful business, since 1988.We have a 2700 sq. Ft. office, plus manufacturing space, and have been planning this new product division. We are excited to bring it to the marketplace using Prosper. We are leaders in our market segment and have had growth of 397% over scheduled business plan sales for 2007, so far year to date. We have been in business since 1988 and have a solid balance sheet and substantial business and personal net worth. We are getting ready to launch our new giclee printing services division for 2007, which will be a division of our company and operated by our current management. This new division will offer fine art prints for the regional area, where we have no current fine are printers, and our national client base. This line dovetails with our current creative products. We have current space allocated for this expansion. Product margin is excellent, we have great channels to market, and we are leaders in this new product line; so we are offering a good return to you in exchange for your making funding easy and fast for this expansion. Our speed to market will help us capitalize on early corporate sales, and expand our lead in this market. CREDIT: My credit score at Experian shows a high ?B? rating on Prospers rating guide. Late payments are not an issue. The score is such due to balances from business accounts that are associated with the personal credit file, and how the ?FICO Score? scores those accounts. We were a sole proprietorship until Oct. 2005; so many business accounts affected our personal credit file from a balance point of view. We have no late payments or other issues on our file. Inquiries and accounts combine business and personal. DEBT TO INCOME RATIO: The ratio was figured on my personal income, and this loan is taken and guaranteed by me personally. This size loan will skew the ratio high on a single personal income. I did not add my husband?s personal income into the number, as it said not to. This loan will be used for, and actually paid for, by the business. We have high personal income to repay the loan personally and through the business. Your loan investment is secure. We have been in business since 1988. We love what we do; and we?ll be here doing it for 20 more years. THE LOAN: We are funding equipment purchases with a $6150.00 personal loan from Prosper to myself, that I will invest into the company as a capital investment to fund the initial purchase of equipment, production materials, production equipment, initial marketing to build our expected client base, initial advertising campaign for the products, brochure production, and stocking of base products. Our initial market studies show early sales should be strong and consistent. Thanks for your interest, your time; and your investment. I look forward to working with you. Take care, enjoy time with your family, and Thank you. Fossil_Creek_Stone_Co |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 81536 | New Division Launch for 19 YR Co. | D | $25,000 @ 28% | Jan 05, 2007 | Loan created |
| 229784 | Equipment Upgrade for 19 YR Co. | B | $4,000 @ 8% | Nov 10, 2007 | Withdrawn |
| 229908 | Equipment Upgrade for 19 YR Co. | B | $4,000 @ 8% | Nov 11, 2007 | Withdrawn |
| 230066 | Equipment Upgrade for 19 YR Co. | B | $4,000 @ 17% | Nov 11, 2007 | Cancelled |
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