Growing San Francisco Business (Samovar Tea Lounge) II
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 12% |
| Lender Rate: | 9% | Borrower: | TeaCulture2 |
| Finished | State: | OR | |
| Funded: | 100% | Group: | Bay Area Entrepreneurs |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-08-22 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Aug 30, 2006 | Current |
| Sep 23, 2008 | Payoff in progress |
| Sep 27, 2008 | Paid |
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Due to the high demand for our first loan, we've decided to post an additional loan on Prosper. This loan is posted by Robert, business partner of Paul who posted the original loan (https://www.prosper.com/public/lend/listing.aspx?listingID=28713). Extract from the original loan: "In early 2002, my two business partners and I set out to create a company aimed at providing a small haven from the stress of everyday life and delivering an experience that is relaxing, enriching, and healthy. We immediately were drawn to the values intrinsic to Tea. In June of 2003 we opened our first location of Samovar Tea Lounge in the Castro/Mission neighborhood of San Francisco. We have recently opened our second location in Yerba Buena gardens in the SOMA area of San Francisco. A more detailed description of our business is available at Paul's member page: https://www.prosper.com/public/groups/member_home.aspx?screen_name=TeaCulture</a> and on our website <a href="http://www.samovartea.com">http://www.samovartea.com</a>. We are looking to raise supplemental captial to assist us with cash flow as our second location grows. We have funded our business with SBA backed business loans from local area banks along with more 60% from the founders and additional private investors. I believe we provide an attractive opportutinity to the Propsper lending community, with a proven track record of business loan repayment. Please contribute to the growing success of this San Francisco business." |
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