Company Startup
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 11% |
| Lender Rate: | 14% | Borrower: | amzinatilsis |
| Finished | State: | NJ | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2008-06-03 | EricsCC ROI: | -76% |
| Status History | |
|---|---|
| Jun 05, 2008 | Current |
| Sep 19, 2008 | Late |
| Oct 04, 2008 | 1 month late |
| Nov 04, 2008 | 2 months late |
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Purpose of loan: During the last four years I have been working for my current company as an HVAC (heating venting air cooling) trade construction supervisor. Recently, however, an opportunity arose to sign a contract with a small local building company. This company has arranged a development of a single family house community consisting of a total of 32 buildings starting June of 2008. In order to be able to accept this proposal, I must open a fully licensed and insured company of my own. At present, I am fully capable to pay for all initial expenses, such as purchasing a company vehicle, all necessary tool sets, company liability insurance, etc.; however, I lack funding for materials and equipment. Generally, builders pay a lump sum once the rough job has been completed and houses have passed the rough inspection. The second and final contribution is received upon the building completion and once the houses are ready for occupancy. The difficulty lies in the fact that without funding from outside, I will not be able to have continuity of work, as the materials and equipment must be purchased up front, at once, and before the building process may begin. My current plan is to stay with my present employer while working for my own company on the weekends and after regular work hours, until I am fully capable to sustain the business myself My financial situation: Monthly net income: $ 2600 after taxes. Monthly expenses: $ Housing: $ 900 Insurance: $ 0 Car expenses: $ currently I drive company issued vehicle with gas allowance. Utilities: $ 100 Phone, cable, internet: $ 50 Food, entertainment: $ 300 Clothing, household expenses $ 100 Credit cards and other loans: $ 150 Other expenses: $ 0 |
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