Re-financing business debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Withdrawn |
| Grade: | A | DTI: | 0% |
| Lender Rate: | 15% | Borrower: | murtikar |
| Finished | State: | NY | |
| Funded: | 0% | Group: | (No Group) |
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Purpose of loan: This loan will be used to refinance debt that I used in the startup and expansion of my jewelry business. Two of the cards have extremely high interest rates (25% and 36%), which will limit my ability to pay off the debt and continue to grow my business. My financial situation: I am a good candidate for this loan because I have been in business for 6 years and went from sales in my first year of 17000 to my current level of sales in the 80,000- 90,000 range in that time. I have used credit cards to fund my business because this is one of the few options for people without real estate. Indeed, I was late a of couple times by a day or two and was horrified to see the interest rate raised to the top level. Despite those late payments, all of the businesses with which I operate on a net 30 basis are happy to give me as much credit as I desire. I am trusted by many gem dealers, many of whom will lend me multiple gems to show my clients. Reducing the interest that I pay every year will put me on the road to making a decent living from my business. Thank you for your consideration of my request. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 312914 | Re-financing business debt | A | $8,000 @ 12% | Apr 17, 2008 | Loan created |
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