Exsiting business development loan
| Listing Information |
| Amount: | $10,000.00 |
Status: | Loan created |
| Grade: | AA |
DTI: | 0% |
| Lender Rate: | 11% |
Borrower: |
rentstcroix
|
| Time Left: | Finished |
State: | ME |
| Funded: | 100% |
Group: |
(No Group) |
| Loan Information |
| Loan Status:
| Current |
Origination Date:
| 2008-07-08 |
EricsCC ROI:
| 10% |
| Status History |
| Jul 09, 2008 |
Current |
Purpose of loan:
The loan is to allow my existing property management and rental business to continue growing. The business was purchased in April of 2006 with 11 properties under management. The existing business was started in 1989 and has operated continuously since then. The business has grown to now managing over 30 properties. We have relationships with a number of private and government agencies that consistently and currently renting from us. These include engineering and construction firms that use our properties for periods ranging from a few days to a number of years. We have a memorandum of understanding with the United States Department of Justice. The IRS currently has a reservation with us for 525 nights at a daily rate of $185. We are now in a position that, due to our growth, we are experiencing a cash flow squeeze.
My financial situation:
I am a good candidate for this loan because I am solvent, owning a number of properties without mortgages, have investments of over 25,000 current value, have a profitable business that has been in existence for almost 20 years and the only debt I have is the credit card debt I have been using to grow the company. Thanks for your interest and assistance with my growing business.
|
| Borrower's Other Listings |
| 349887 |
Exsiting business development loan |
AA |
$25,000 @ 17% |
Jun 13, 2008 |
Expired |
|
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