Prosper Lender & Borrower - Capital for Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,950.00 | Status: | Withdrawn |
| Grade: | B | DTI: | 0% |
| Lender Rate: | 32% | Borrower: | Genesis |
| Finished | State: | NC | |
| Funded: | 2% | Group: | (No Group) |
|
Purpose of loan: (Relisting at a lower amount and higher interest, Note NO Current DQ's!) This loan will be used to capitalize my small promotions business. Established in 1984, I am increasing my marketing to schools, which operate on purchase orders, and not prepayments. I am limited to how much of this business I can accept. I prepay all my orders and either require clients to prepay or have established terms based on my capital funding. Since I can turn money over about 7 times per year, turning this capital over a minimum of three times nets me 29,850. in profit. That $2500 additional monthly profit is at a cost of $157monthly (average interest rate of this loan). I CARRY NO INVENTORY, SO MONEY WILL BE FLUID. ALL SALES ARE FOR CUSTOM ITEMS. My financial situation: My husband (a 27 yr govt employee) and myself own our home which has a modest mortgage, ($81,900 as of 6/6/08, value approx $225,000). We have one car payment and three vehicles. We have one gas card and one credit card which are paid off the month it is used. We own a piece of commerical property (approx value $87,000) that we rent out. ( My previous Prosper loan (4/2006) was used to renovate this office and we are currently renting it for $495.00 a month, the prosper loan is $587.00 a month) The 12 delinquencies showing are about to age off, and were due to a several clients not paying me in 2000. I HAVE NO CURRENT DELINQUENCIES. The two delinquencies on my report are two small medical that have been paid. I have proof of payment and have sent this into the credit agency twice and still they will not remove. I will gladly fax anyone copies of the receipts and a phone # to call and verify payment. The one credit inquiry was from a supplier and I have been granted credit and credit letter is available for anyone interested in viewing. Besides my company, I also receive income from my father's manufacturing company that I provide marketing and administrative services for. I have been a Prosper lender since 2006. Monthly net income: $ 7589.00 (after health insurance and retirement contributions) This is using mine and husband's combined income. Monthly expenses: $ Housing: $ 703.99 Insurance: $ 265.00 includes, car - auto - life Car expenses: $ 500.00 car payment, $ 575.00 fuel payment Utilities: $ 285.00 Phone, cable, internet: $ paid throught company Food, entertainment: $ 475.00 Clothing, household expenses $ 1000.00 Credit cards and other loans: $ none Other expenses: $ tuition and apartment for son (jr in college) $993.94 $144.17 Property Taxes $200.00 tithe Balance to pay Prosper $2,447.50 if using personal info Actually, repayment will be made by business, with personal guarantee. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 986 | Cleaning up Loose ends | C | $25,000 @ 12% | Mar 01, 2006 | Withdrawn |
| 1379 | Renovate Commercial Property for Rental Purposes | C | $25,000 @ 14% | Mar 07, 2006 | Withdrawn |
| 2724 | Renovate Office for Rental Purposes | C | $16,750 @ 15% | Mar 21, 2006 | Loan created |
| 236726 | 10% DTI - Capital for Business established in 1984 | D | $15,950 @ 22% | Nov 24, 2007 | Withdrawn |
| 237083 | 10% DTI - NO DQ's - Capital for existing business | D | $15,950 @ 24% | Nov 25, 2007 | Withdrawn |
| 243049 | Capital for business | D | $15,950 @ 28% | Dec 03, 2007 | Withdrawn |
| 288594 | Capital for Business | D | $17,950 @ 28% | Mar 05, 2008 | Expired |
| 338321 | Capital for Business | B | $18,950 @ 24% | Jun 06, 2008 | Withdrawn |
| 348612 | Low Overhead-Competitive Pricing-Capital for Business | B | $14,950 @ 35% | Jun 11, 2008 | Expired |
| 352632 | Capital for Immediate Sales - No Inventory | B | $14,950 @ 35% | Jun 18, 2008 | Expired |
| 359895 | Capital for Immediate Sales - No Inventory | B | $9,950 @ 32% | Jun 30, 2008 | Withdrawn |
| 404686 | Prosper Lender & Borrower - Capital for Business | B | $14,950 @ 35% | Oct 07, 2008 | Expired |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|