Investing in a trailer for trucking company!
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 29% |
| Lender Rate: | 18% | Borrower: | YoungRealtors_1 |
| Finished | State: | MS | |
| Funded: | 100% | Group: | Small Business & Self Employed |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-14 | EricsCC ROI: | 17% |
| Status History | |
|---|---|
| Oct 11, 2008 | Current |
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Purpose of loan: This loan will be used to purchase a 1996 Timpte trailer at a GREAT DEAL. My fiancee father has been in the trucking business for over 20 years. He owns a 2004 Peterbilt with a 1999 Timpte double grain hopper, and a 1998 Freightliner. He contracts with a local elevator hauling 3 loads a day at 290 a load 6 days a week. The fuel cost 1800 a week. The profit margin is 3,400 a week. The Freightliner needs a trailer; we have a qualified driver who has been friends of the family and been driving trucks for over 10 yrs. Our plan is to purchase the trailer and split the profit with the company. At 3 loads a day at 290 a load 6 days a week, 1800 for fuel, proper loan, and 600 for the driver. We will have profit levels of 900 to 1200 a week. The trailer is 10,000 a local farmer who has a good relationship with my father in law he wants 13,000 but will sell to us for 10,000. Its a great business opportunity for us thats why we turned to Prosper once again. My financial situation: I am a good candidate for this loan because… I HAVE PERFECT PROSPER HISTORY!! I graduated this summer and I'm a foreign language teacher at a middle school. (3,000 a month) plus i still do the marketing/ advertising part time 1500 a month. I can afford to pay this loan on my income alone. My fiancee has recently made 5 yrs at his job of a Quality Tech at Automobile Production Company (54,000 plus 2 bonuses a year).He handles all the financial responsibilities of our household. My credit history supports i pay my bills ON TIME and qualify us for this loan.. We have a emergency fund , 401k and IRAs and savings account.( Don't want to touch) 8,000 in saving for business investing. Our plan is to get loan from proper( 10,000 and saving 8,000) pay off remain loan 8,000 and get trailer 10,000. We also plan to Reinvest in Prosper its a great place for people to turn to. Monthly net income: $ 4500 +5000 fiancee =9,500 Monthly expenses: $ Housing: $ Insurance: $ Car expenses: $ Utilities: $ Phone, cable, internet: $ Food, entertainment: $ Clothing, household expenses $ Credit cards and other loans: $ 455 Other expenses: $ 100 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 173084 | Young Entrepreneurs Making A Mark In The Real Estate World! | A | $12,000 @ 17% | Jul 20, 2007 | Withdrawn |
| 175373 | Young Entrepreneurs Making A Mark In The Real Estate World! | A | $12,000 @ 13% | Jul 24, 2007 | Withdrawn |
| 178715 | Young Entrepreneurs Making A Mark In The Real Estate World! | A | $12,000 @ 19% | Jul 30, 2007 | Loan created |
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