Eric's Credit Community

This loan will be used to purchase inventory.

I have orders for product that I just can not supply as I don?t have stock.

The products I sell are imported and lead time from when I pay for the product, through manufacturing and shipping by container ship to my company is 2 months.

My customers pay me very quickly, but it takes time before I can get more stock.

I am going to use 60% of the money from this loan to fund a large order of  product for the winter market ? these are products that sold very well last winter, I just did not have enough product to meet the demand.

The remaining 40% will be used to increase the volume of product that I have at present that sells all year.

Around 65% of the product that I sell I am the only supplier for these products, this allows for a very favorable return on investment.

I have been selling these products for the past 6 years and I am totally self funded, having started this business with only $200.

I now spend $12000 to $15000 every month on imported product, and I cant keep up with the demand from my customers.

My financial situation:

I am a good candidate for this loan for the simple reason that this money is not going to be used to pay for any bills, expenses, overheads, luxuries, extravagances, etc, etc.

I make enough money every month to easily pay my bills and still be able to pay for this loan as well.

I have a beautiful home, that I have a mortgage on of $1200 / month ? I pay $2000, just to get it paid off early and I have a good amount of equity in the home.

My cars are all paid for.

So I draw a modest income from the business to cover my expenses, and the rest of the money is directly reinvested into growing the business.

Don?t let my credit rating fool you, I had AA credit before taking some loans to finance the development of 3 new products that I will be launching in the new year.

All my bills get paid on time and I always pay a little extra.

The most important information.
As an investor you have to be asking a few questions.

Will your money be used to pay for every day expenses? ? no 100% is going to buy inventory.

What if the inventory does not sell? ? no problem I make enough now to pay the loan payments even if there are zero sales of the new inventory / products

Are you consolidating debt? ? No 100% goes into new product. Do you want to fund a person who has money problems and cant pay their current obligations? So now they are looking to refund their existing debt at a lower rate ? sounds dangerous to me. I pay all my debts on time and at the agreed interest rate ? if I cant afford it I don?t take it.  

Monthly net income: $ 8000

Monthly expenses: $ 3000
  Housing: $ 1200
  Insurance: $ 160
  Car expenses: $ 0
  Utilities: $ 200
  Phone, cable, internet: $ 160
  Food, entertainment: $ 700
  Clothing, household expenses $ 250