Opening an Automotive Repair Center
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Expired |
| Grade: | D | DTI: | 0% |
| Lender Rate: | 18% | Borrower: | Kiyale3 |
| Finished | State: | OK | |
| Funded: | 3% | Group: | (No Group) |
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Purpose of loan: I will be using this loan to open an automotive repair shop. I now have eight actual working years experience in the automotive field, and have been working on cars since I was the tender age of thirteen in my father?s business. I have moved back to my hometown of Tulsa Oklahoma and now plan to open my own automotive business. I am incorporated already and enjoyed much success while in California. I am home now and my daughter is much happier as well as Grandma. I really enjoy repairing vehicles and there is no shortage of work. I am ASE certified and an excellent technician I will obtain my final certification during the next testing cycle becoming a Master Technician. I have all basic and advanced tools and will only have to buy specialty tools as oddball jobs occur. My financial situation: I am a good candidate for paying back this loan because of my personal beliefs. I got into financial trouble years ago when I was young because of a lack of education about money. Although this is a high interest loan my return rate on this investment will be greater. Monthly net income: $4000 Because I am now incorporated I will receive $1000 per month from the Veterans Affairs office as On the Job training which will taper down every six months. Housing: $0 My uncle and mentor is allowing me to house sit while he contracts in Iraq again for the next thirteen months. (His contribution, he believes in me). Insurance: $ 320 Life insurance, business insurance and liability insurance on the vehicles I own (They are paid for). Car expenses: $ 100 Utilities: $ 195 Phone, cable, internet: $ 87 Food $200 Entertainment: $200 Clothing $300 for new uniforms with my own company name on them! Household expenses $ 100 Credit cards and other loans: $ 353 My uncle mentioned before has also agreed to contribute an additional $10,000 in six months (It is amazing how much contractors earn in a war zone). |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 182966 | Forming a Limited liability Company for established work | D | $4,700 @ 20% | Aug 07, 2007 | Loan created |
| 291052 | Opening an Automotive Repair Center | D | $7,000 @ 16% | Mar 10, 2008 | Cancelled |
| 301551 | Opening an Automotive Repair Center | D | $7,000 @ 16% | Mar 29, 2008 | Cancelled |
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