Working Capital for Laundromat
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 5% |
| Lender Rate: | 12% | Borrower: | L-matbuilder |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-22 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Aug 22, 2008 | Current |
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Purpose of loan: This loan will be used to support the working capital needs of two laundromats in working class areas. For instance, one store is undergoing minor renovations (new folding areas, used stack dryers, and a snack machine) and the other store has needs for a private business loan repayment and working capital. My financial situation: I am a good candidate for this loan because the laundromats are cash flow positive and contain real estate units (4) that are all currently leased. In addition, I am fully employed thus, utilize this income to support business debt obligations whenever required. |
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