Consolidate Profitable Business Running on Credit Cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $24,999.00 | Status: | Loan created |
| Grade: | A | DTI: | 14% |
| Lender Rate: | 14% | Borrower: | chriscsm5 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-09 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Jun 10, 2008 | Current |
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ABOUT ME: I am 30 years old. I work for in the corporate controllership of a large internet media company in Sunnyvale California. I live in San Francisco. I graduated Lehigh University with a B.S. in Computer Engineering in 2000. I am a second time prosper borrower. The first loan was paid off in full. A $545 a month payment for a 3-year $15,000 loan to expand on inventory - no delinquency. I have the capacity to expand my partially prosper funded business to the next level and would love to pay interest for your help! THE BUSINESS I own a small business selling refurbished electronics & cell phones. I have four employees. We have recently experienced an enormous growth spurt in year over year sales and expect the trend to continue in 2009. You can see more about this business by visiting www.auctioncleveland.com I carry a 100% feedback rating on eBay which should help show I am a serious and trust worthy business. Show me ANY other company that can transact over 10,000 transactions over 10 years and receive NO negative responses to their service and I will show you an AA credit rating. I turn over inventory very quickly and need keep larger inventories. We have the infrastructure to scale but not enough cash to float the inventory costs. I currently have $60k in cash in the business and would like to borrow another $25k to expand inventory for three to six months. The business currently generates about about $8-9k in net income. Please feel free to let me know if there is anything else I can provide to help you understand more about me. HERE ARE MY MONTHLY FINANCIAL DETAILS: Personal Salary Only (Non Business Income) Approx $136,808 Other Sources of Income Yearly Bonus (3 consecutive years): $17,000 Stock Based Compensation: (Stock/NOT options) $45,000 Salary: $196,000 / Year Net income after payroll deductions from all sources: $4,500 / MONTH (salary only) Spouse's Income: $1,500 / MONTH Total monthly family Income $12,600 (excluding cell phone business) (salary only) Mortgage/Rent: $1,800 Phone: $100 Gas: $0 Electricity & Water: $25 Car Loan and Operating Expenses: $100 - we have a zip car; we do not own a car in San Francisco Food: $350 Cable/Internet: $ $70 Clothing, expenses for children, etc. $ 100 Credit cards and loans that won't be paid off with my Prosper loan: $ 0 Other: $ 500 ----------------------- Total Monthly Expenses : $ 2,800 I will just from my personal income have $4,000 a month left to make the payments on my Prosper loan with even more room to spare if i divert other monthly savings. I will have from my personal and business income well over $10,000 a month in free cash flow to pay my prosper loan back. The loan will be paid off off much faster than 3 years; estimating 3 - 6 months. We only need to expand for seasonality and/ or one time deals. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 80458 | Consolidate Profitable Business Running on Credit Cards | D | $15,000 @ 17% | Jan 02, 2007 | Loan created |
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