720+ Scorer, wants to start an S/W Solutions Providing Firm
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 28% |
| Lender Rate: | 27% | Borrower: | KalKing |
| Finished | State: | VA | |
| Funded: | 100% | Group: | 435 Supporting Lenders - Get FUNDED @ LOWER % than ANY group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-17 | EricsCC ROI: | 26% |
| Status History | |
|---|---|
| Sep 17, 2008 | Current |
|
Purpose of loan: The purpose of this loan is to fund starting a Software Solutions Providing Firm. About my background, I am a MS Graduate in Computer Science and am working as a Software Consultant with Citi Group. I, along with my colleague, want to start our own Software Solutions providing company. We need a total minimum investment of 80 grand. Out of which, my investment is 40 Grand; I already have 15 grand from my savings. I recently paid off all my credit cards and couple of hand loans. I wanted to maintain a good credit, as I am planning to expand my business in next 2 years. We have all the required knowledge and information about the business/ company as my colleague was a partner with his cousin till end of second quarter 2008. We are also backed up by my Aunt?s support who is a Chartered Accountant with couple of high end firms in New Jersey. We are planning to operate our business by October 1st, the last quarter of 2008, there by buying some time for ourselves to do the back-end preparation. Also since it will be the last quarter of a year, the expectations and dead lines would be less and we will have 3 months to gain hold on the market. My financial situation: I am a good candidate for this loan because; I have no other loans and credit cards. I have a Experian Plus Credit score at 720 + . An ?A? grade as per Prosper grade ratings. I can provide the latest Experian report to te lenders, if requested. I would be working full time for a while and still shall focus on my business simultaneously. I am planning to pay-off my Prosper loan by mid 2010 as I want to expand my business by end 2010 and will lease or buy a own office space. Monthly net income: $ 3,900 + $900 as expenses Monthly expenses: House Rent: $ 450 House Insurance: $10 (Paid $125 annually) Car Loan: $ 485 Car Insurance: $100 Utilities: $ 150 Phone, Cable and Internet: $ 100 Food and Entertainment: $ 400 Savings: 15% of my Pay check - $585 Other expenses: $ 300 I travel frequently on company trips, worth $800- $1000 a month, which my company reimburses me. Remaining Balance: $ 1320, which pooled up to $15,000 for my investment The above is my present scenario. My future scenario would be to re-pay my Prosper loan with my remaining balance, still leaving around $300. I don?t usually use my Savings as I want to save it for my rainy-day. Apart from this I would be earning bonus worth 2 months salary every April. And targeted profit per person per year is expected to be atleast $15,000 the first year which will also be used to repay my Prosper Loan. THANK YOU FOR LOOKING!!! - KalKing |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|