Strategic Growth and Working Capital
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 13% |
| Lender Rate: | 11% | Borrower: | BPI |
| Finished | State: | AZ | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2006-11-02 | EricsCC ROI: | -17% |
| Status History | |
|---|---|
| Dec 04, 2006 | Current |
| Sep 18, 2008 | Late |
| Oct 03, 2008 | 1 month late |
| Nov 03, 2008 | 2 months late |
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Broad Street Mortgage is a residential mortgage lending institution located in Phoenix, Arizona. We are currently working on a strategic growth strategy to hire, train and support additional loan officers, expand to additional office space and expand our lending opportunities. I have personally contributed $75,000 over the past 90 days to get this project started, however we are in need of an additional $25,000 to complete this transition. The funds from this loan will be used to upgrade our computer system as well as provide additional working capital. Our current revenue is about $500,000 per year. We currently have five loan officers and are adding an additional seven to ten by the end of the year. With the additional production, we estimate our revenue in 2007 to be near $1,000,000. Thank you in advance for considering this investment. If you would like to discuss our strategy further, please feel free to contact me at [EMAIL DELETED]. |
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