Loan to Purchase Inventory for Pet Product Manufacturing Co.
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 0% |
| Lender Rate: | 35% | Borrower: | T98743 |
| Finished | State: | PA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-19 | EricsCC ROI: | 35% |
| Status History | |
|---|---|
| Sep 19, 2008 | Current |
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Purpose of loan: Fast Growing Pet Supply Company needs financing for inventory. Presently can't get enough stock to meet growing, insatiable demand. There is a current customer base of over 1,000 retail stores which presently wait between 1-3 months each time they place an order. If their shelves were able to be stocked 100% of the time, sales would automatically increase up to 300% based on the current customers only. There are also 15 independent sales reps covering most territories in the US along with 4 international distributors who they are able to go full speed in promoting the line to their customer base of thousands of stores once I'm able to give them word that there is enough inventory to support orders and reorders. I also have a database of leads of hundreds of stores and distributors (amongst my entire database of approx. 20,000 qualified wholesale accounts) many of whom are basically on a waiting list to carry the line once I have sufficient inventory. Basically, however much inventory I can get, I can immediately sell, because all of the sales and distribution channels are already in place. Annual sales have grown 400% annually over the past year (100k in '06 and 425k in '07. Lack of inventory is the only thing holding me back. I'm 26 years old (and always knew I'd be an entrepreneur) so I don't have collateral such as real estate to secure for regular bank loans & the company is doing so well that I want to maintain 100% equity. Please contact me for more information. I'll be happy to provide any documents you request and discuss anything with you. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 333715 | Loan to consolidate business credit cards | E | $25,000 @ 30% | May 16, 2008 | Expired |
| 338768 | Inventory for fast growing business!!! | E | $5,000 @ 35% | May 25, 2008 | Expired |
| 346442 | Purchase Inventory which is already sold! | E | $25,000 @ 35% | Jun 07, 2008 | Withdrawn |
| 347828 | Loan to Purchase Inventory for Pet Product Manufacturing Co. | E | $20,000 @ 30% | Jun 11, 2008 | Expired |
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