Acquire a LUNCH TRUCK in Los Angeles
| Listing Information | |||
|---|---|---|---|
| Amount: | $24,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 39% |
| Lender Rate: | 21% | Borrower: | Nigua |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-01 | EricsCC ROI: | 21% |
| Status History | |
|---|---|
| Sep 30, 2008 | Current |
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Purpose of loan: This loan will be used to acquire in cash a fully equipped semi-new 2005 Lunch Truck to serve a very profitable area of South Pasadena, California. I found that my real cooking-hobby can be a nice business venture for me. A new city Ordinance was passed a few weeks ago that permits lunch trucks to stay on a location without moving in the County of Los Angeles. I am convinced that my food is delicious to be sold in the open market and not just to family members. The best part of this opportunity is that I will be able to keep my manager long employment position. Finally, I will be hire my brother to manage my fast food business 6 days at week. In average, I can make 400 dollars in sales per day (25% is net gains for my lunch truck). Therefore, I will be able to pay off all my debt included this personal loan in three years. My financial situation: I am a good candidate for this loan because I always have a perfect credit history. Besides that, I have more than 12 years working in the same company earning a very good salary $7,350 per month like General Manager. My goal is to use this loan in productive way to pay off in 2-3 years. Why my relisting: I am listing for 2nd time my loan because I send by mail (3 business days) my verification documents instead of overnight, thus the funding process was canceled last friday. However, today I received the next email from PROSPER: Your documentation has been received and reviewed. As a result, your account has been reactivated and you are free to participate in the Prosper Marketplace. Therefore, I decided to relist and asking you for you support in the PROSPER community for this second chance. Also, I write down my last Q&A section. GOD BLESS YOU everybody to make this funding happen again. THANK YOU!! Q: Does your brother have any experience in the food industry? A: He was 4 years experience cooking in two Mexican restautants in Pasadena, CA. He just made 8.50 per hour. Therefore, I decided to hire him with a salary of $100 per day (8 hours at 12.50 per hour). Of course, he is ready to start working for me in the lunch truck. Q: How much will the truck cost? Have you already secured a location? Could you please provide a breakdown of your monthly expenses? A: The lunch truck's owner just want $22,000. But the real market price is around 35,000. The location timeframe permit and business license are include in the deal, too. My breakdown expenses list: Housing $550Insurance $35Car expenses $150Utilities $44Phone, cable, internet $69Food, entertainment $280Clothing, household expenses $120Credit cards and other loans $1,778Other expenses $100 My monthly expenses TOTAL $3,126. Q: So you're saying that cost to operate (insurance, gas, supplies) is $300 a day and you make $100 a day for working, or you can pay someone to run the truck and still come out $100 ahead per day? A: The current owner made in sale $420 a day / Monday to Friday and $280 on Saturdays. The operation budget per day is: $140 food supply, $30-40 gas, $100 salary, and truck & business insurances, oil change, etc. is $20. My main reasons to invest in this lunch truck business is because I'll make around 2,200 per month and help my brother to earn a decent salary at least 40% more that his paycheck. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 393281 | Acquire a LUNCH TRUCK in Los Angeles | A | $24,000 @ 21% | Sep 05, 2008 | Cancelled |
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