Loan to expand hosting business
| Listing Information | |||
|---|---|---|---|
| Amount: | $12,000.00 | Status: | Expired |
| Grade: | A | DTI: | 33% |
| Lender Rate: | 10% | Borrower: | lumasiscom |
| Finished | State: | IN | |
| Funded: | 0% | Group: | (No Group) |
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Hello, I have a small web design and hosting business. I have been in the industry since 1997. I have 2 employees and we are operate as a happy family. I work very closely with some other consultants in my area that do IT consulting. Through my associations and longevity in the business, I have been approached by one of my peers- to purchase another small web hosting company. The current owner has a new job and will require a lot of travel and wants to stop supporting this client base. I on the other hand, have much unused capacity on my servers, etc that I can support these clients with no trouble.The hosting business has an annual gross revenue of $38500. I am purchasing the business for $26000. Most clients have been stable for over 2 years. I expect little customer loss. I would like to fund the purchase via this prosper loan. I had such a good experience from my original transaction I wanted to offer this to the Prosper Community. I do plan to pay the loan off early with the revenue from the business.Thanks! My finances: Gross income: 89000/year housing $1800 Credit cards: $0 Personal Deby $0 (only my home which I have 225,000 equity) I have A credit- I just need a short term loan. My business site is: http://www.Lumasis.com Thank you. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 88614 | Expansion of Web Hosting equipment | A | $4,000 @ 10% | Jan 25, 2007 | Cancelled |
| 90230 | Credit Card Rate reduction | A | $8,500 @ 10% | Jan 29, 2007 | Withdrawn |
| 91077 | Loan to expand hosting business | A | $5,000 @ 10% | Jan 30, 2007 | Loan created |
| 272236 | Loan to expand hosting business | A | $8,000 @ 14% | Jan 27, 2008 | Loan created |
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