IT Disaster recovery company needs cash between invoices
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 4% |
| Lender Rate: | 18% | Borrower: | backupstrategies |
| Finished | State: | NC | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 1 month late | Origination Date: | 2008-04-29 | EricsCC ROI: | -49% |
| Status History | |
|---|---|
| Apr 29, 2008 | Current |
| Oct 15, 2008 | Late |
| Oct 30, 2008 | 1 month late |
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Purpose of loan: This loan will be used to fund travel expenses to customers between invoices. I have 4 current contracts. My financial situation: I am a good candidate for this loan because I have good credit, provide IT disaster recovery services for the Federal government, Fortune 500 companies, hospitals and large financial institutions, have been providing consulting services in this area of expertise for 11 years, and consult directly to IBM, EMC, Wal-Mart, Federal government, many state governments, and hospitals to name a few of my largest customers. I help my customers make sure their data is backed up and able to be recovered in event there is a disaster whether it's natural, terrorism, or deleted by accident while insuring compliance with all Federal laws and regualations such as HIPPA and Sarbanes Oxley. As part of my consulting services I architect very complex computer models, implement, and provide day-to-day support while interacting directly with all levels of executive managment and customers. All of my customers are on 60 to 120 accounts receivables. Payment can take between 65 and 140 days though I must fund my travel expenses to my customers sites weekly that can range from $1500 to $2100 a week that I have to carry on my personal credit cards until I'm reimbursed. I currently have over $70K on accounts receivables that will be paid in 60 to 89 days for consulting services I've provided to my customers. I'm requesting the loan immediately to assist me with these expenses until my invoices are paid. |
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