build-out expenses for new studio recording location
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 0% |
| Lender Rate: | 24% | Borrower: | twopillars |
| Finished | State: | MN | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-03 | EricsCC ROI: | 24% |
| Status History | |
|---|---|
| Sep 04, 2008 | Current |
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Purpose of loan: Recording Studio This loan will be used to cover the build-out costs of my new recording studio facility. My financial situation: I currently charge $40 per hour for the use of my studio facility and have enough work to keep my studio rented out for a minimum of 40 hours per week. Once I move into the new facility I will be doubling the space and will be able to raise my rates to $60 per hour. I have produced over twenty CD's by various artists and am able to be as busy as I want to be. On top of the studio work that I do during the week I am also hired at two churches on Sundays to play music bringing in $2000 per month. I am a good candidate for this loan because I have outstanding credit and skills that have kept me going for years. Due to my workload history and ability to raise my hourly rates by 33% I would be able to pay off this loan in a relatively short period of time. |
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