Expanding a t-shirt and gift company
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 24% |
| Lender Rate: | 10% | Borrower: | girlmogul |
| Finished | State: | NJ | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-06 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Jun 10, 2008 | Current |
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Purpose of loan: This loan will be used to expand my existing t-shirt and product company, GirlMogul. The idea to start GirlMogul came to when I was shopping for clothes for my niece - everything out there was Future Princess and Future Diva. This wan't a message I wanted to send to her, so I thought, wouldn't it be great if there was a t-shirt that said "Future Rocket Scientist". There wasn't, so GirlMogul was born. I got a website, hired a graphic artist and now there are over 20 different Girl Power t-shirt designs at our store. I also sell other products to encourage successful girls, like science and enterpreneur kits designed to get girls interested in "non-tradional" girl stuff. In the past 12 months, I have soldified my product line, invested in a web site upgarde and invested in alot of blog posts, contest sponsorships, giveways and networking Feedback has been phenomenal. Moms of all stripes love the idea and want something different for their girls. From working moms to stay at home, home schooling mom, the message is resonating. I have been featured on many blogs and new media sites, and I am working with a non-profit to create a t-shirt that we will market together. Sales have grown from 0 to one or more a week (in the past 2 months). I would like the money to continue to invest in marketing and advertising (Pay per Click and display ads on relevant websites) and also to invest in inventory. Currently all t-shirts are print on demand which keeps my inventory low, but also my margins. As sales pick up, the data will allow me to pinpoint my best sellers, and I would like to invest in inventory, increasing my margin to greater than 50%. My margin on other products is at 80% or greater. My financial situation: I am a good candidate for this loan because I have kept my day job and funded this venture on my own. I have excellent credit and could use credit cards to help me start my advertising campaign, but would prefer a better rate. I would plan on making payments to the loan from my "day job" and invest all revenues from the business back into it. II also have investments and stocks of approximately $15,000 that are also available as payment option. |
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