Inventory Purchases
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 7% |
| Lender Rate: | 15% | Borrower: | KIT723 |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-30 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Jan 31, 2008 | Current |
|
Purpose of loan: This loan is for inventory purchases. I am a wholesale distributor for prepaid calling cards to convenience stores in my local Metro area. The loan will free up cash flow to help concentrate on increasing sales to existing and new customers. My gross monthly sales average between $32000 to $40000 per month. My financial situation: I am a good candidate for this loan because of the continued increases in construction workers living in this Metro area, plus a large amount of international students at our local University. Current sales levels, place my net margin at between 9-12% of my gross sales. This loan will greatly help in purchasing inventory and provide more time to concentrate on sales. I currently pay for all inventory on a net 7 day, payment schedule. This loan will give greater flexibility in managing cash flow for inventory purchases. I have an excellent reputation of prompt service for all of my business contacts. In Sept 2000, I took out a business loan of $30,000, from Bank of America and I paid this loan completely in 4 years.I have had some financial difficulties in the past during the sharp economic slow down at the end of 2001 through 2003. My gross sales have steadily increased since 2003. My credit report reflects several issues due to very high credit card interest rates. High interest rates and late fees wrecked havoc on personal credit card payments, in the past four years. I am a home owner in the central area of our city. I reside in an area of rapidly rising property values, unlike the trend in many areas of the Nation. The home mortgage information is not currently on my profile. Please feel free to ask any questions if I can be of further assistance. Thank you for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 264912 | Inventory Purchases | A | $10,000 @ 17% | Jan 14, 2008 | Expired |
| 396518 | Inventory Purchases & Expansion | B | $8,000 @ 17% | Sep 11, 2008 | Expired |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|