Business Debt Consolidation and Vehicle Upgrades
| Listing Information | |||
|---|---|---|---|
| Amount: | $21,500.00 | Status: | Loan created |
| Grade: | C | DTI: | 13% |
| Lender Rate: | 30% | Borrower: | cubsfan81 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | BuildingTree |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-03-12 | EricsCC ROI: | 27% |
| Status History | |
|---|---|
| Mar 12, 2008 | Current |
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Purpose of loan: This loan will be used to consolidate some business debt and upgrade company vehicles before the busy season (spring/summer). We are need of this money due to the fact that we are currently in the slow season. My financial situation: I am a good candidate for this loan because I have never been delinquent on any of my loans, and have been profitable since starting my business in 2002. Monthly net income: We average about about from $850,000 ($70,000 per month) in revenue a year, of which after expenses, including my salary, results in earnings of $180,000. We have 9 cars in our fleet. We are currently averaging 25 trips a day. 4 Lincoln L Series Towncars 1 Chevy Suburban 1 Lincoln Towncar 120' Stretch 1 Chrysler 300C 140' Stretch 1 Cadillac 200' Escalade Stretch 1 Ford 140' Expedition Stretch Expenses: Car expenses run approximately $12,500. Insurance cost about $5,000. Employee expenses (4 employees - dispatchers & reservation agents): $8,000 My Salary: $7,500 Drivers: $15,000 Operating Expenses (rent, phones, IT, etc): $7,000 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 278112 | Business Debt Consolidation and Vehicle Upgrades | C | $24,000 @ 25% | Feb 10, 2008 | Expired |
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