Buying fitness equipment for relocation and expansion
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 0% |
| Lender Rate: | 15% | Borrower: | thousandogs |
| Finished | State: | ND | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-22 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Sep 20, 2008 | Current |
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Purpose of loan: This loan will be used to? purchase one piece of Cormax fitness training equipment. I am currently renting space in an existing health club where I plan to incorporate a Cormax section for training my clients. There are three pieces of the Cormax line and I plan on installing three quantities of each for a total of nine machines. Each machine retails for $6000. My financial situation: I am a good candidate for this loan because? I have the longest history of working with the Cormax equipment in the company's history. I have the reputation of the guy who gets results. Due to an opportunity to branch out on my own, yet still in an established gym, I plan to triple my client base in less than a year. Current client base is ranging from 30-40 people in a group training style, each paying an average of $70/month. New clients pay $100/month while some long-standing clients are paying $60/month knowing that the next increase will be to $75/month and eventually $100/ month. This new venue will increase my visibility by both a more convenient location and a larger gym with 100's of prospects. I have 15 years of training and gym management with nearly 10 years of self-employment experience. My earning potential is better than anyone in my location. Monthly net income: $ 2100 Monthly expenses: $ Housing: $ 265 Insurance: $ 215 Car expenses: $ 500 Utilities: $ 0 Phone, cable, internet: $ 70 Food, entertainment: $ 200 Clothing, household expenses $ 50 Credit cards and other loans: $ 600 Other expenses: $ 330 |
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