Transition Loan - TO SBA
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 0% |
| Lender Rate: | 35% | Borrower: | bss97603 |
| Finished | State: | OR | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-30 | EricsCC ROI: | 34% |
| Status History | |
|---|---|
| Sep 30, 2008 | Current |
|
Purpose of loan: Our hotel has been open since May 2008. We have had a number of Sub-Contractors who were paid that did not pay their suppliers, in Oregon that makes us responsible to double pay and recoup from the Sub. I need to pay off all liens by suppliers before the SBA will give me final funding, which has been approved since we broke ground. My financial situation: I am a good candidate for this loan because… I have been a sucessful business person for over 12 years. My credit is good, the debt is from this venture, which has every indication to be successful. I have third party income, not tied to this property, so the investment is safe. I have notes from the Sub-Contractors that contribute to my monthly income, these note payments will go towards this loan payment. I do have credit card debt available, however my credit score has already suffered due to the amount I have put on them for this project. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 349555 | Bridge Loan for new Hotel | A | $25,000 @ 20% | Jun 12, 2008 | Expired |
| 356920 | Bridge Loan for new Hotel | A | $15,000 @ 20% | Jun 25, 2008 | Expired |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|