Moonwalk Business Capital Needed
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,900.00 | Status: | Loan created |
| Grade: | C | DTI: | 20% |
| Lender Rate: | 15% | Borrower: | coastalmoonwalks |
| Finished | State: | FL | |
| Funded: | 100% | Group: | UtopiaLoans.com - Now Over $1 Million in Closed Loans!! |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-04-04 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jul 12, 2006 | Current |
| Mar 28, 2008 | Payoff in progress |
| Mar 29, 2008 | Paid |
|
My first listing on prosper was for $5000. This amount was to buy 3-4 new inflatable's. Recently I have acquired a $3100 loan from my family, so I only need of $1900. This will pay for the final unit and help with marketing. I am a 34-year-old entrepreneur seeking capital to start up and build my business. I live in sunny Jacksonville Florida, where my business can take advantage of the ideal climate, renting outdoor children's entertainment equipment year round. We rent waterslides, dryslides, moonwalks, obstacle courses, etc, for birthday parties, graduations, church events, fund-raisers, and school events. This is a booming business to say the least. One in which, given a medium supply of equipment (15 pieces), a business can generate approximately $150,000-$200,000 a year in revenue. This figure is based on what my competition generates and on my own market research. Coastal Moonwalks & Inflatable Games (CM&IG) is a sole-proprietorship and has begun to generate a customer base. CM&IG has agreements with local competitors, to lease their equipment from them at 60% of market rental rates (40% gross revenue) to ensure that I can service my customers initially with no equipment. This is a great way to begin a business with little start-up capital. However, I can only maximize my gross revenue and grow my business if I own my equipment, in turn generating 100% gross revenue. CM&IG is a licensed Florida business with an occupational license in Duval County and has a Federal tax identification number. Currently, there is one employee (owner) and the potential to add independent contractors for delivery, if need be. The owner of CM&IG has been working for its competitors for 2 years, delivering and doing the necessary duties to maintain and learn the business. CM&IG can be found on the web by going to www.coastalmoonwalks.com and on the yellow pages website. CM&IG will also be listed in the local yellow pages book beginning June 2006. Initially, CM&IG can start-up with approximately 3-4 inflatable's on $5000. The gross revenue would equate to approximately $4680 a month. Based on the calculations of prosper, borrowing $1900, the monthly payment would be no more than $67.00, or less than 5% debt ratio. The monthly payment could be easily paid with 1 rental. The goal is to add at least 1 additional inflatable each month using part of company's gross revenue. Within a year, CM&IG will have at least 15 inflatable units. At this point in my life I am working on building my net worth. I have decided to only invest in assets and businesss that will generate revenue and income. At some point, I hope to be able to be a lender, here on prosper. That is why I am here. I am a home owner, with a home valued at $125,000. As far as credit worthiness, I have paid all my bills on time for the last 6 years, never missing a payment. I am independent and very responsible. I have no kids or a wife. I can supply references if needed. Thank you for viewing my listing and thank you for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 1964 | Moonwalk Inflatable Business capital needed | C | $5,000 @ 15% | Mar 14, 2006 | Expired |
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