Purchasing New Equipment To Expand My Business
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 0% |
| Lender Rate: | 19% | Borrower: | salixa2346 |
| Finished | State: | CT | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-01 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Sep 30, 2008 | Current |
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Purpose of loan: This is my fourth year in business and the best so far. I am involved in all aspects of lascaping from design to installation and property maintenance including fertilization. I have the opportunity to expand into commercial properties but obviously the bigger the property the bigger the equipment needed. I am going to use the funds to purchase a ride-on spreader which is a machine that will cover 1 acre of land with fertilizer in 10-15 min. It takes me about 30-45min to push spread an acre size lawn. This machine will allow me to take on more accounts and complete the jobs more efficiently. My financial situation: You should feel confident in loaning me the funds because I am an established business in my community and do not have too much overhead. My sales have tripled since last year and it only gets better. Monthly net income: $5000 Monthly expenses: $2400 Housing: $950 Insurance: $200 Car expenses: $400 Utilities: $150 Phone, cable, internet: $100 Food, entertainment: $200 Clothing, household expenses $ Credit cards and other loans: $400 Other expenses: $ |
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