Bridge loan for business expenses. Perfect payment history!
| Listing Information | |||
|---|---|---|---|
| Amount: | $11,000.00 | Status: | Withdrawn |
| Grade: | E | DTI: | 34% |
| Lender Rate: | 16% | Borrower: | mpop76110 |
| Finished | State: | TX | |
| Funded: | 0% | Group: | (No Group) |
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To Whom It May Concern: My wife and I have started a new company Recruit U, LLC (www.recruitu.com) and have previously used Prosper.com to help initially fund the start up capital we needed to get off the ground. Now we have a very short term need for purchasing some advertising and legal expenses for the purpose of expanding our business. Recruit U, LLC is a Fort Worth, Texas based business helping athletes (men and women) connect with colleges coaches across the United States and Canada. We are in the 2nd year of operations. Note - my credit score is at an E, which I entirely dispute. Of the 7 supposed delinquent accounts reporting, I know of 6 that I have personally settled with between 2004 and 2005. They do not get removed from my credit report and therefor keep reporting as delinquent. I also don't understand how my score has dropped from a C to E in one year. If anything, my credit has drastically improved. This would be our second loan on Prosper.com and have a perfect payment history to date with our first loan. Amount of Loan: $11,000.00 For Artwork/Print/Design, Marketing Collateral, and some advertising buys in sports publications. Total Initial Expenses - $9,500.00 Leaving Approx $1,500.00 loan balance for incidentals/misc. This loan amount will be repaid easily within 36 months given our sales projections. Plus, the fact that our current payment history has been perfect for over a year. Personal financials: Monthly Gross Income: $6,250 Subtotal Monthly Expenses ($ 4,654) Monthly Income after expenses $1,596 The DTI ratio does not take into account my wife's income which is near double my own. We're also seeking private investors on a much larger scale. If you have a history of investing in start-up companies and can handle the risk associated with equity investments, please contact us for further information. Best Regards! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 77822 | Start Up Capital Loan | C | $25,000 @ 29% | Dec 25, 2006 | Withdrawn |
| 78112 | Start Up Capital Loan | C | $25,000 @ 19% | Dec 26, 2006 | Withdrawn |
| 78366 | New Family Business Start Up Loan | C | $25,000 @ 25% | Dec 27, 2006 | Withdrawn |
| 79963 | Loan to fund new family owned business | C | $17,500 @ 27% | Jan 01, 2007 | Loan created |
| 274113 | Bridge loan for business expenses. Perfect payment history! | E | $11,000 @ 12% | Jan 31, 2008 | Withdrawn |
| 275129 | Bridge loan for business expenses. Perfect payment history! | E | $11,000 @ 17% | Feb 02, 2008 | Expired |
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