Bakery Needs Working Capital
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 0% |
| Lender Rate: | 24% | Borrower: | lnsbakery |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-05-16 | EricsCC ROI: | 22% |
| Status History | |
|---|---|
| May 24, 2008 | Current |
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Purpose of the Loan: This loan will be used as working capital for an upscale bakery located in an affluent, neighborhood community. Our 2008 projections are: Total Sales: $871,988 Cost of Goods Sold: $390,932 Gross Margin: $481,056 (55.17%) Total Operating Expenses: $340,982 EBITDA: $152,074 Net Profit: $94,323 My situation: I am a good candidate for this loan because I know what it takes to run a successful business on a shoe-string budget. I have started three successful businesses already and have run another multi-million dollar, multi-discipline (medical, chiropractic, physical therapy, massage) healthcare practice. I am highly educated having attending Hofstra University in Long Island, New York and Life University, College of Chiropractic in Marietta, Georgia (just outside of Atlanta). I am also a life-long learner in the fields of philosophy, psychology, business, finance, and marketing. Aside from my formal and informal education, I also understand the "ins and outs" of a start-up. I understand how to get the most "bang for your buck" when it comes to marketing and advertising. I recognize the financial needs of a small business and will keep most of the bookkeeping, payroll, insurance, and other administrative responsibilities in-house, thus further increasing our business's efficiency. As someone who has pursued an education in psychology, I know that people have needs, fears, and hopes. Balancing the needs, fears, and hopes of our business's stakeholders - our customers, our employees, our vendors, our financers - is something I do very well. And remember, I don't just know these things theoretically, like some recently graduated MBA student; I know these things because I've done them four times already. Repayment of the loan will be my highest priority. I believe a healthy balance sheet is vital to a growing business, so I don't believe in carrying too much debt, for too long. On the other hand, I understand that positive cash flow is the lifeblood of a business and without it, a business will surely suffer. In light of this, I will be borrowing as little as possible to get the business off the ground. Then I will expedite the repayment of the loan. A financer who lends me money will find they've made a great business decision. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 278565 | Start-Up Bakery Needs Financing | AA | $24,000 @ 10% | Feb 13, 2008 | Withdrawn |
| 279948 | Bakery Cafe Needs Capital | AA | $25,000 @ 15% | Feb 14, 2008 | Withdrawn |
| 315184 | Bakery Needs Working Capital | AA | $25,000 @ 17% | Apr 21, 2008 | Cancelled |
| 321425 | Bakery Needs Working Capital | AA | $25,000 @ 18% | Apr 29, 2008 | Withdrawn |
| 322769 | Bakery Needs Working Capital | AA | $25,000 @ 25% | Apr 30, 2008 | Expired |
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