Consolidating High Interest Credit Card Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Cancelled |
| Grade: | A | DTI: | 0% |
| Lender Rate: | 16% | Borrower: | ABAMALSC |
| Finished | State: | NJ | |
| Funded: | 100% | Group: | (No Group) |
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Purpose of loan: This loan will be used to repay some high interest credit cards that my company currently has due to being a self-funded company. The company is performing well, and now we are looking to be able to obtain a more affordable rate of financing to consolidate our current debt. My financial situation: I am a good candidate for this loan because my company is currently in a rapidly growing market with an faster growing customer base. We have expanded our offerings to include custom design and development services as well as online marketing and consulting which have proven to be very profitable for the business. Business Information: The Business is currently run by 3 working partners including myself. We are a profitable company, with sales projections exceeding $300,000 for the year. We currently have an Ecommerce management system which we license monthly as well as doing online marketing and process consulting and custom web design. The software license is month to month as well as the consulting revenue, with custom design payments being split up over 3 payments during the course of the project. We have a very healthy pipeline of future design deals, so business will not be affected by that in the foreseeable future. Monthly Revenue averages $22,000/mo with expenses between $17,500-18,500/mo. Some months have seen revenue of up to $30,000 with expenses of about $24,500 (please note that expenses includes COGS). Please ask any questions you have for us. I have included information from previous questions. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 381106 | Consolidating High Interest Credit Card Debt | A | $15,000 @ 19% | Aug 11, 2008 | Expired |
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