Business Growth
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Withdrawn |
| Grade: | B | DTI: | 0% |
| Lender Rate: | 30% | Borrower: | idelk |
| Finished | State: | GA | |
| Funded: | 0% | Group: | (No Group) |
|
Purpose of loan: This loan will be used to aid in the growth and expansion of a business in Tennessee to the Atlanta, Georgia, area. The funds will be used to help secure a perfect location in Atlanta, GA, for our business store front. My company's business loan will take 3-4 months before it closes and this location I am seeking will not last until it closes. My financial situation: I am a good candidate for this loan because my father (who is gradually stepping down) changed the business to a sole properietorship to a limited liability company and handed down 49% of the business to me. the business has been established for over 30 years and the business profits between $250-350K per year on average; gross revenue average: $750-900K yearly. Our automotive collision repair center is the dominate provider of automotive accessories and services within Haywood County & Gibson County and is a major competitor in 3 other surrounding counties. Moreover, my credit score is only a B because of a pending credit dispute, which dramatically lowered my credit score. The reasons for me not going to a traditional financial institution is because I do not have more than a year's worth of tax returns and since I graduated from Morehouse College in May of 2007 and I didn't start working until October, 2007, there was no way possible for me to provide a 1-Yr+ tax return. All financials are well documented and can easily be provided. Ask any questions that will help you understand my full agenda... Monthly net income: $4,500.00 Monthly expenses: $2,300.00 Housing: $ 0.00 (living at family estate) Insurance: $450.00 (car insurance, health insurance) Car expenses: $300.00 (gas) Utilities: $150.00 (GA Power, Water) Phone, cable, internet: $225.00 (directv, bellsouth cellphone, wireless internet) Food, entertainment: $375.00 Clothing, household expenses $200.00 Credit cards and other loans: $300.00 Other expenses: $200 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 375781 | Expanding family business to Georgia from Tennessee | B | $17,500 @ 30% | Jul 31, 2008 | Withdrawn |
| 378289 | Business Expansion & Contracting Fees | B | $12,500 @ 29% | Aug 05, 2008 | Withdrawn |
| 380800 | Business Expansion | B | $6,500 @ 15% | Aug 11, 2008 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|