Expansion of Existing Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 79% |
| Lender Rate: | 30% | Borrower: | Daibos |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-03 | EricsCC ROI: | 28% |
| Status History | |
|---|---|
| Jun 05, 2008 | Current |
|
Purpose of loan: We have started a video store in a small town were we own a couple other business. We own a building that had a vacant store front in it currently and the town this building is in does not have a video rental store. I have a partner that has ran a video store for several years in another town for a larger company that is going to be a advisor on the venture. This building is owned by us and has been paid of so there is no mortgage on it and has two other locations in it that are currently rented so it is basically a free store for us to use. The Utilities and employess are the only added expense. We have now been open for about a month and it is going even better then we were expecting. We don't have the inventory of movies that we should yet, but people are coming in everyday and renting movies. We would like to just jump our inventory ahead and expand a little. My financial situation: we currently have a good cash flow from our rentals and current business that we run. we own a consignment store and an eBay drop of location. my debt to income and bank card utilization is high but that is because we only use our credit cards for our business and it is a revolving credit. So we pay the cards off completely many months. Monthly net income: $ between me and my wife we bring in around $5000 Net each month after paying all our business expenses. Monthly expenses: $ Housing: $ 467 Insurance: $58 Car expenses: $ 300 Utilities: $ 400 Phone, cable, internet: $ 300 Food, entertainment: $ 500 Clothing, household expenses $ 100 Credit cards and other loans: Business Expense -- paid before our net income. Other expenses: $ 100 Total $2225 Leaving $2775 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 35459 | Business Capital | E | $3,000 @ 25% | Aug 30, 2006 | Withdrawn |
| 35717 | Need Money To Expand Inventory | E | $3,000 @ 29% | Aug 31, 2006 | Withdrawn |
| 36598 | Need Some Business Capital | E | $1,000 @ 25% | Sep 04, 2006 | Loan created |
| 225176 | Need Some Business Capital | E | $15,000 @ 35% | Nov 02, 2007 | Expired |
| 266192 | Expansion of Existing Business | E | $5,000 @ 35% | Jan 15, 2008 | Expired |
| 271838 | Expansion of Existing Business | E | $3,000 @ 35% | Jan 26, 2008 | Withdrawn |
| 275761 | Expansion of Existing Business | E | $9,000 @ 28% | Feb 04, 2008 | Expired |
| 279857 | Expansion of Existing Business | E | $4,000 @ 35% | Feb 14, 2008 | Expired |
| 287669 | Expansion of Existing Business | E | $4,000 @ 35% | Mar 03, 2008 | Expired |
| 312411 | Expansion of Existing Business | E | $4,000 @ 35% | Apr 16, 2008 | Expired |
| 325908 | Expansion of Existing Business | D | $4,000 @ 35% | May 05, 2008 | Expired |
| 330794 | Expansion of Existing Business | D | $8,000 @ 27% | May 12, 2008 | Withdrawn |
| 334588 | Expansion of Existing Business | D | $7,500 @ 35% | May 17, 2008 | Expired |
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