Eric's Credit Community

This is a re-list of my previously funded loan request:

I am listing for a 3rd and last time. My loan was kicked due to income verification. I still do make $44,000 from bus driving alone. However, the bus is titled in my wife's name and so the income I recieve from the school district for the portion of my income that relates to my owning the school bus is written out to my wife. Prosper does not include that income in the D/I ratio. I am still not including my wife's additional income or the pallet business income as this is the first full year that the shop is open and I don't yet have tax records to show profit there.My loan was funded in 2 days on my last listing. This time around it will not be kicked due to verification as income of $25,000 has already been verified by Prosper.


Here is the same description from the previous request:

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This is a relist of my previous request.

Changes:

Amount Requested down to $10,000: This is about enough to get 3 truck loads of lumber with delivery costs.

Quick Funding: My Group leader said that several requests were made to do this by bidders on my last listing and 23% while high is acceptable.

Here is a link to Vetting information and other details and answered questions in the forums:http://forums.prosper.com/index.php?showtopic=9462


The purpose of this loan is to increase the company profits.  We have been in the new pallet manufacturing business for over a year now and are currently having difficulty buying lumber at the best possible prices. The lumber mills we currently buy from give us 10 day payment terms and we are currently buying lumber for $340 per 1000 b/f. We have the opportunity to buy lumber from 2 other saw mills at $310 per 1000 b/f. Unfortunately, they require payment at the time of delivery and we do not have the ability to pay that quickly since our customers have longer payment terms. By buying lumber at this price, we can increase our profits by roughly $550-800 per week.   So, we are requesting this loan so that we will be able to pay our lumber suppliers faster and thereby increase our profits.   A word on the credit grade.My D credit grade was due to one and only one very recent delinquency of which I have address and will have completely satisfied within 4 months. The delinquent account holder does show my account in current terms at this time.A word on debt to income ratio.My debt to income ratio seems high due to the fact that my current debts are only being weighed against personal income with no consideration of any business income. I am currently employed as a part time bus driver for the local school system in which I earn $44,000 per year. This is the only income used in my debt to income ratio.Please take this into consideration when you make a decision to invest in my business.