Investing in my brother's company
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 0% |
| Lender Rate: | 11% | Borrower: | KFGuy |
| Finished | State: | OR | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-08 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Jul 09, 2008 | Current |
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Purpose of loan: This loan will be used to invest in my brother's fabrication and powder coating business. It will be used to help offset the advertising costs to promote the expansion of our powder coating operations into new market areas. Specifically, these costs will include web site enhancement, radio spots, and written media expenses. My financial situation: I am a good candidate for this loan because I just sold my house and moved to Oregon. I used the sale to pay off all current debt as of mid-Jun 2008. My current income I reported is based on my retired military pay, which is guaranteed, regardless of any other factors. I will soon be earning a salary from the company. My current living expenses are low, since I am living with family. Therefore, I am able to easily make loan payments on this proposed loan. Monthly expenses: Mortgage/rent=$0 Credit Cards/loans=$0 (paid it all off with sale of house in Jun 08) Car Insurance=$265/mo Health/Dental Insurance=$140/mo Life Insurance=$50 Living Expenses~$200 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 349972 | Financing Powder Coating Operations | AA | $25,000 @ 15% | Jun 16, 2008 | Expired |
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