Business expansion
| Listing Information | |||
|---|---|---|---|
| Amount: | $24,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 34% |
| Lender Rate: | 15% | Borrower: | combomombo |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-02-20 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Feb 17, 2008 | Current |
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The purpose of this loan is to support day-to-day operations during expansion of my business. My corporation currently publishes direct-mail check-style coupon books. These books are direct-mailed to zones of 10,000 homes each. Revenue is generated by selling advertisements to local businesses such as pizza restaurants, fast food restaurants, chiropractors, dentists, retailers, etc. I am currently expanding my business. I have begun operating a news web site. Revenue will be generated by selling ad space to advertisers primarily interested in reaching local residents and the local business community. Advertising opportunities will also be available for those seeking a county-wide, state-wide or national presence. Local traffic will be driven to the site by providing the only source for local and micro-local news in addition to national, and international news, sports, entertainment, etc. We gather our local news content by recruiting community organizations to submit articles and information. These organizations notify their members that their news items can be seen on our site and this causes traffic to increase. I am a good candidate for this loan for a number of reasons. First, this business expansion utilizes my experience selling advertising. Although this is a web-based business, revenue is still generated through advertising sales. Second, my existing advertising customers who already know and trust me become candidates to purchase advertising for my new publication. Third, advertising rates for my new publication will be substantially lower than my ad rates for the direct-mail coupon books. It is my experience that price is the single biggest obstacle to selling advertising. Lower advertising rates should make advertising sales easier. Fourth, I continue to consult for a high technology company, which generates about $60,000 per year for my corporation. Finally, I have a solid business background, having spent more than twenty years as an executive manager for a high technology company in the semiconductor industry. For those twenty years I reported directly to the founder and CEO of the company and held the positions of VP Sales, VP Marketing & VP Operations. I am a good leader with a strong grasp of business fundamentals and a good work ethic. I have an excellent reputation among business associates and peers. I am highly invested in this business and motivated to see it?s success. |
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