A Little Help Please

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Listing Information
Amount: $3,500.00 Status: Loan created
Grade: E DTI: 5%
Lender Rate: 21% Borrower: RALEXUS
Time Left: Finished State: CA
Funded: 100% Group: Business Owners Cooperative
Loan Information
Loan Status: Default Origination Date: 2006-04-18 EricsCC ROI: -78%
Status History
Jul 12, 2006 Current
Aug 01, 2006 Late
Aug 18, 2006 1 month late
Aug 28, 2006 Current
Nov 06, 2006 Late
Nov 22, 2006 1 month late
Dec 18, 2006 2 months late
Jan 20, 2007 3+ months late
Jun 01, 2007 Default
I?m a single mother of four who started a new business two months ago. I have one child in college, and two in high school, and one in elementary.  I had a good job, but had to quit a few years ago to take care of my elderly grandmother.  I wouldn?t have changed my decision for anything in the world, because I loved her.  She is gone now, and we have to move on with our lives. I have been making basket for over 4 years.  So this basket business was perfect.   We decided as a family that we would work hard as a family to make this business successful.  I had a few friends that loved my basket voluntary to put the website together. I think they did a wonderful job. I get over 8,000 hits a month on my website.  I really love what I do, and it?s rare that you find a job that you really love.  My family has put their heart and soul into this business.  This is my families and my second chance.  I recently spoke to a friend that?s a realtor, and ask her about her company buying some of my basket as gift for new homeowners.  She explained to me that the realtors she works with are looking for baskets with cheese, and sausage, crackers and wines.  They purchase a lot of gourmet basket, and higher end baskets.  I also have made some baskets for a new homebuilder in my area.  They also loved the basket, but I had to purchase retail, so the profit wasn?t that good, but I did get some new contacts out of the sales.   I need to expand my inventory to be competitive in these fields.   I started this business with the little savings we had, and it?s almost gone.   I have good contacts with realtors, because I?m a loan originator.  I have a better job now, and a business so I will be able to pay back the loan faster. I have also been paying off debt to get my credit score up.  My family and I just need a second chance, and hopefully with your help we will get it.  

 Thank you
Borrower's Other Listings
4331 Need Help With Business E $3,000 @ 22% Mar 30, 2006 Withdrawn
4509 Need Help With Business E $2,800 @ 22% Mar 31, 2006 Withdrawn
4673 Need Help With My Business E $2,900 @ 20% Apr 02, 2006 Withdrawn
4719 Need Help With My Business E $3,000 @ 21% Apr 02, 2006 Withdrawn

 

Discussion For This Listing
Fri, August 18, 2006
I tracked down and wrote the borrower directly to see what the story was. . .
Fri, August 25, 2006
The squeeky wheel gets oiled--she made a double payment and is back on track after being 1+ months late.
Thu, May 31, 2007
Defaulted. The sales price was quite generous. Principle + Interest + Resale = 52% of the original loan.
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