Eric's Credit Community

This loan will be used to Start a Family Friendly Barbershop in a local mall. The barbershop will cater to families with children. It is located right outside of the malls play area, you can see the entire play area from every area of the barbershop. Pager service will also be offered for the clients who would rather walk around the mall then wait. For those who would like to wait in the barbershop there will be a comfortable waiting area with cable television, satellite radio and a game table. The children will get a prize after every service and the parents will have peace of mind whether they stay and wait or wait on the go.

The mall loves the idea and welcomes the business, they feel it is just the business they want for the location due to the increase traffic they receive from the new play area and train service available.

The location is in the mall where families "hang out" due to the play area. I have 4 licensed barbers and 1 apprentice (a total of 5) with their own clientele who have been barbers in this mall for the past 2 years ready to start in the new location and two additional barbers interviewing for space. The space can hold 10 stations comfortably. The barbers will rent their space and I will provide the supplies they need to perform the services. On average the barbers have made $800 - $1200 weekly.

I work full-time for the government and have rental property income from investment property I have owned since 2001. Monthly net is $2,300 after all of my expenses. And I HAVE PERFECT PROSPER HISTORY

Below shows monthly net income based on the amount of spaces rented starting from the worst case scenario of having only 4 barber spaces rented. The net amount includes all operating expenses and a loan repayment of $490 deducted.

Barbers - Monthly Net
4 - $774
5 - $1,594 (barbers already contracted)
6 - $2,412
7 - $3,232 (barbers pending interview)
8 - $4,051

I have relisted this loan with more information and a higher interest rate. Feel free to ask any questions for more information. Please view the previous listings for more information.