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Current Prosper customer having borrowed a little over $10,000 last year via a Prosper loan to open up my middle eastern/Mediterranean restaurant in the heart of Lincoln Park in Chicago. The restaurant is operationally profitable (1yr old). Applying for debt consolidation to: Refinance my current Prosper loan (~$6,300). Reduce term and reduce interest rates to sub 10%. Consolidate debt (repay CC balance of $10K). Make the monthly payments on these loans directly from revenues generated by the restaurant and debt consolidation would reduce payments making it more affordable (~$530 / month from $850/month currently). Currently restaurant is 100% equity owned with an estimated value over $250K, generating over $40K in revenues monthly. I’m a good candidate for this loan because: Currently earn over $120K in gross earnings at full time job, employed for ~ 7 years. No other debt or payments. Savings balance exceeds loan request however would like restaurant to pay of its debt. |
