Buying inventory for CNG system importing company.
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,200.00 | Status: | Loan created |
| Grade: | C | DTI: | 35% |
| Lender Rate: | 18% | Borrower: | CNGConversions |
| Finished | State: | UT | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-19 | EricsCC ROI: | 16% |
| Status History | |
|---|---|
| Jun 19, 2008 | Current |
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Purpose of loan: This loan will be used to purchase inventory for a CNG (Compressed Natural Gas) importing business. We already have buyers lined up for these products. We just need a little extra to cover incidentals. My financial situation: My wife and I both work-full-time jobs aside from this business. With these jobs, we make a combined income of $43,000/year. I have recently received a job offer, which will increase our income to $65,000/yr, within the next 2-3 months. My wife is currently in a hiring process for a Paramedic/Firefighter job, which will increase our annual earnings to approximately $90,000. Even if our business were to disappear, we would still be in an excellent position to repay this loan with our regular jobs. We own everything we have, outright, except for one vehicle that we pay $253/month on. We have no other debt, besides about $7000 remaining in student loans. We avoid credit cards like the plague, and have never had credit card debt of any sort. Monthly net income: $3600 (soon to be $5400) Monthly expenses: $ Housing: $700 Insurance: $120 Car expenses: $400 Utilities: $ Included in rent Phone, cable, internet: $60 Food, entertainment: $ 300 Clothing, household expenses: $200 Student Loans: $65 Credit cards and other loans: $0.00 Other expenses: $200 |
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