Buying A Profitable Pizza Franchise - Cashfunders Endorsed
| Listing Information |
| Amount: | $25,000.00 |
Status: | Loan created |
| Grade: | A |
DTI: | 101% |
| Lender Rate: | 19% |
Borrower: |
Gbrick
|
| Time Left: | Finished |
State: | CA |
| Funded: | 100% |
Group: |
Cashfunders For Individuals
|
| Loan Information |
| Loan Status:
| 3 months late |
Origination Date:
| 2008-04-10 |
EricsCC ROI:
| -55% |
| Status History |
| Apr 10, 2008 |
Current |
| Sep 26, 2008 |
Late |
| Oct 11, 2008 |
1 month late |
| Nov 11, 2008 |
2 months late |
| Dec 12, 2008 |
3 months late |
I am in the process of
buying of profitable Red Brick pizza franchise which sells in excess of $30,000.00
I will be the owner/operator and my son will help me manage the business full
time. I currently have on deposit
with the escrow company $45,000.00 of my own money to go towards the purchase
of the restaurant. I am also assuming a long term SBA loan which funds the
majority of the purchase price. This
loan will be used to pay for the remaining portion of the closing costs and provide
some working capital.. The location has been up and running for over 3 years,
sells in excess of $30k per month, and has been making a substantial profit for
all three years. The current owner is a master developer and is opening other
locations away from this one so he is selling it. I have over 10 years of
experience as a restaurant owner, in the United Kingdom and have been
working hard for over 12 years at my current employer working sometimes over 18
hours a day.
My financial situation:
I am a good candidate for this loan because I have had only 1 delinquency on my
credit in the last 20 years and that was for a car that I co-signed on with my
son, the car was been paid off in full about 16 days ago and will make a
substantial change on my credit and DTI considering that the loan paid off was
64k. DTI is inaccurate due to the restaurant?s income not being
reflected in the prosper income. It also does not include the rental house
income that I receive every month in the amount $1,525 for a house that I own. I
also have all paperwork from Chase Auto loans to prove that the car was paid
off. I will be paying this loan back through cash flow of the business. I was
offered early retirement from my employer, and as such they are paying me severance
for the remainder of 2008. This will allow me to focus on the restaurant full
time. Thank you in advance
for your bids and support of my new business venture. |
| Borrower's Other Listings |
| 289425 |
Down Payment for Pizza Franchise |
A |
$24,000 @ 35% |
Mar 06, 2008 |
Withdrawn |
| 291473 |
Down Payment for Established Pizza Franchise Making Profit |
A |
$24,000 @ 35% |
Mar 10, 2008 |
Expired |
| 296413 |
Down Payment for Established Pizza Franchise Making Profit |
A |
$12,000 @ 31% |
Mar 20, 2008 |
Expired |
|
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