Environmental business expansion (marketing, inventory)
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 10% |
| Lender Rate: | 7% | Borrower: | rainguy |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-03-18 | EricsCC ROI: | 6% |
| Status History | |
|---|---|
| Mar 17, 2008 | Current |
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Purpose of loan: This loan will be used to expand my small environmentally oriented business by making much needed upgrades to the company's website, adding to the company's product lines and purchasing capital equipment. My financial situation: I am a good candidate for this loan because the company is financially viable and experiencing dramatic growth. Our services are in hot demand (see below) and revenues have increased every quarter since incorporation. Personally, I have fantastic credit (AA), low DTI and am a homeowner in good standing with all creditors. In fact, I own two homes, the second of which is currently occupied and providing rental income. This is a ZERO risk loan. Why Prosper? Because my company has not been in business long enough, or established sufficient credit (because it doesn't carry debt), to qualify for low interest rates with traditional lenders. FYI, the revolving credit balance is primarily due to a home equity line of credit on the rental home, resulting in a DTI higher than I would like (but still low). About the company: Rainwater Services, LLC provides rainwater harvesting solutions for residential and small commercial irrigation applications. Because of severe droughts and excessive population growth, the water supply in our region is limited. Therefore, water management officials impose strict restrictions on watering of lawns. By installing irrigation (sprinkler) systems that use rainwater collected from roof runoff, we allow homeowner to break away from connections to municipal water supplies, thereby becoming exempt from watering restrictions. As a result, our customers are allowed to irrigate their landscapes according to a schedule that best serves their particular needs. About me: Small business owner: environmentally-responsible company, serving the "green" building industry. Education: Master's Degree from an Ivy League university. Married. No children (yet). Age: early 30s. |
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