Funding Business Expansion
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,499.00 | Status: | Loan created |
| Grade: | D | DTI: | 12% |
| Lender Rate: | 16% | Borrower: | cushlamila |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Service Academy Graduates |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-25 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Aug 24, 2008 | Current |
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I graduated from the United States Air Force Academy in 1989. Following graduation I flew for 9 years as both a T-38 instructor pilot and C-5 transport pilot. Since leaving the AF in 1998 and moving to the Houston area, I have been involved in sales in both the medical and advertising industries. Currently I am a top-performing advertising executive where I have worked for 7 1/2 years. My wife is a domestic goddess and homeschools our 3 kids. We own a rapidly growing vending company that currently comprises 150 locations and produces an average of $10,000 a month in revenue. All of the revenue is being re-invested back into the business to allow for further expansion. My sales experience, discipline and fierce drive to succeed are key factors in our very rapid growth! This loan will help us purchase equipment, enabling us to sign contracts with much larger Houston-based companies. As our business is a sole proprietorship, it automatically takes on our current personal credit rating even though it has been profitable from day one. The high costs of gas, food, etc (with no increase in pay at work) over the last year have lead to our short-term D rating. I have begun a second job in the last 2 months in the evenings to further improve our financial position as we adjust to the new costs of living. Our financial situation: Personal Income: $6000/month (average including monthly bonus checks and second job) Rent $1000 Credit Card $300 (balance of $7000/will be paid off in Jan '09) Utilities $300 Phone/Cell Phones $125 Cable/Internet $85 Food/Clothing $900 Homeschool Expenses $200 Remaining: $2910/month on average Business Income: $10000/month Credit Cards (3) $400 (balance of $6500) Charity Payments $2500 Product Costs (stickers/toys/gumballs, etc) $2500 Liability Insurance $30 Remaining: $4570/month Last year we paid off our first Prosper.com loan in record time (10 months) so our Prosper history is exceptional. We will shortly finish up our first year of payments on our 2nd Prosper loan without a hitch and expect to have this paid off by the end of the year (in record time also). Our proven business system will allow us to pay off this one as well. Thanks for your support in advance! We couldn't make our pursuit of the American Dream a reality without the support of Prosper!! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 42965 | Funding Business Expansion | C | $3,000 @ 16% | Sep 28, 2006 | Loan created |
| 190322 | Funding Business Expansion | HR | $9,999 @ 16% | Aug 23, 2007 | Expired |
| 213995 | Funding Business Expansion | D | $9,999 @ 16% | Oct 14, 2007 | Expired |
| 220990 | Funding Business Expansion | C | $9,999 @ 13% | Oct 25, 2007 | Loan created |
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