Paying off a business loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 22% |
| Lender Rate: | 22% | Borrower: | maryj333 |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-04-25 | EricsCC ROI: | 20% |
| Status History | |
|---|---|
| Apr 24, 2008 | Current |
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Purpose of loan: I will use this loan to pay off our business loan. We obtained the business loan a couple years ago to open a gym. It was a long process, but because our business plan and strong financial history we were approved. My husband ran the gym while I worked full time to ensure we remained financially stable. About 3 months after we opened, my company asked me to relocate 1200 miles away. This was really hard for us since we had just gotten married 2 months before opening the gym. The offer was too good to pass up so I moved while my husband continue to run the gym. However, we agreed that I would fly home every weekend (since he had to run the gym on the weekends). Fifteen months later we decided that we would close up shop, he would move down, and we would start working on our family. In closing the business, we learned from the bank that we had to pay off our loan in 60 days. We have $85K to pay back and have some of the money, but need an additional loan to pay off the rest. So, we are hoping you all could help us! My financial situation: You will not be sorry lending to me because I have never been late with a payment, have a great credit history, and am hard working. I have a secure job as a Senior Manager, where I do very well financially. |
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