CPA Practice Expansion
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 22% |
| Lender Rate: | 8% | Borrower: | mindful-payout625 |
| Finished | State: | TN | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2010-09-24 | EricsCC ROI: | 5% |
| Status History | |
|---|---|
| Sep 25, 2010 | Current |
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Purpose of loan: This loan will be used as an initial down payment to purchase an existing CPA practice. My husband is a CPA and we have a wonderful opportunity to expand our business by purchasing a very stable practice that has been in business for 30 years. The seller of that practice is retiring and is willing to carry a note for some of the purchase price, as long as we can put down a decent deposit. We already have most of the deposit, but this loan will ensure we have the full deposit with a reserve to help cash flow until this next tax season when most of the revenue comes in. My financial situation: I am a good candidate for this loan because my husband and I have fantastic credit and strive to be good stewards of our finances. I am a Physical Therapist with a Master's Degree working in a very stable industry. My husband is a licensed Certified Public Accountant (CPA) who has worked for two large accounting firms and has now been on his own for a few years now. The purchase of this CPA practice will generate additional cash flow to secure our financial situation even more. |
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