Expanding business
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 41% |
| Lender Rate: | 11% | Borrower: | rgscan |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-02-14 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Feb 14, 2008 | Current |
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Purpose of loan: This loan will be used to expand our existing business. The business implements document management and business workflow systems. We provide scanning services that convert information on paper documents into a digitized form so that it is instantly accessed by the clients of our document management systems. We have been operating since November 2005. In the year ending December 31, 2007, we billed out over $180,000. We are looking to create a professional marketing strategy so as to increase the success of the sales team. Our goal is to have revenue of between $500,000-$800,000 in 2008. My financial situation: I am a good candidate for this loan because I am highly experienced in the database management and application development. I have been in the industry since 1992 and have been successful in operations, sales and project management. I have a solid credit history and can use my current income to cover the loan payments. My current debt is my home loan and a loan on a 4 unit investment property that consistently produces positive cash flow. I have a personal credit card that has a balance of $6000.00 and a company credit card that has an $8000.00 balance. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 262659 | Buying software and Hardware | AA | $24,000 @ 14% | Jan 15, 2008 | Expired |
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