Expanding HairCinch.com -online to Ebay & more
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 23% |
| Lender Rate: | 14% | Borrower: | Haircinchlady |
| Finished | State: | NC | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-09 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Jun 10, 2008 | Current |
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Purpose of loan: This loan will be used to support expanding my 8 year part time business onto eBay and to pay for art show fees this coming fall. The show fees are on a business credit card and I want to pay them down and keep the business credit card open for emergencies, like if my truck needs something. I have been working for a temporary agency as a secretary off season, while doing a few local art shows and small motorcycle rallies on weekends to promote my patented hair accessory and selling earrings I make to compliment booth sales. I have two patents and you can visit my web site at www.haircinch.com. The patents, inventory and everything are owned outright. I average 30-50k a year in sales earned mostly between August and December. I have some sales activity online. I would like to add a sales effort on eBay and do some advertising on Google. I have used Google in the past with modest success promoting the website. I am hopeful that a manufacturer or larger distributor for hair accessories would see my product, how it works and offer me a big licensing agreement! The Haircinch ties long hair back in a fantastic easy to do French Braid, pony tails, pigtails and much more! It stops knots for active kids & adults of any age when they are out on boats, bikes, etc. Spread the word please!! My financial situation: I am a good candidate for this loan because I have good credit 720 and little debt, My husband and I own 40% of our 230k home, we work real hard, We have no car or truck payments. He is a teacher and artist. It has been a tough year for retail sales. I have cut back on spring shows because of money & weather concerns with outdoor shows. It has rained on the events I have had, sales are way off. We heard of prosper and thought I could give it a try rather then going to a banks or using credit cards like I have been doing. My business is worth over 60k and the website was appraised at over 10k, we built it ourselves so I have complete control over m business. I would like to grow while I have the time before the the Christmas season starts. I have been selling in the Made in the South Fine Arts and Craft shows tour for over 5 years now. They are one of the best promoters in the country! Years ago I was in a bad car accident. I broke my neck in the accident and couldn't work at all for six months. I am fine now, fully recovered & feel lucky to still be here to take care of my family, Because of the injury I was out of work for almost a full year and it hurt my credit, so regular lending options are still expensive. I have been avoiding borrowing as a result. I have never missed a mortgage payment in 15 years and have never been late or delinquent on anything before or after (3 years) I recovered from the car accident. Sometimes bad things happen. But now I am looking forward to a profitable fall selling season! I really like the idea of what prosper is doing and thought I would give it a try, so I could grow or better yet be discovered as the inventor that I am and stop being a temping secretary! Thanks for reading this far! Monthly net income: $1600 average plus what my husband earns. Monthly expenses: $ Housing: $ 959 Insurance: $ 250 Car expenses: $ 250 Utilities: $ 200 Phone, cable, internet: $ 115 Food, entertainment: $ 350 Clothing, household expenses $ 150 Credit cards and other loans: $ 250 Other $200 |
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