Eric's Credit Community

My husband and I have manufactured an energy saving, Energy Star solar device for 10 years.  To start the business, buy materials and purchase equipment, we re-mortgaged our house and used our personal credit cards.  As people are becoming more energy conscious, our sales are increasing.  As our sales increase, we are paying down these debts.   Our company can be found at www.sun-dome.com and www.sun-dome.net.   Our largest overseas customers are China, India, and South America, as these parts of the world are very interested in energy saving products.  

Every 8 years the government requires us to have our product to be tested.  Good news:  we passed the most rigorous tests in the world, much more demanding than previous tests.  Bad news:  the tests were also more expensive than before.  As a consequence we have run up some of the more expensive credit cards.  

Requesting:  $10,000
Interest Rate:  17%
Monthly Payment:  $356.53
Purpose of Loan:   Pay off higher interest rate credit cards
  
Budget:
Monthly Income:    $2567  (net)
Share holder draw $ 700  (sometimes more, depends on company sales)
Rental property      $ 750              
Husband:                $ 842  (Social Security)
Total Income         $4859          

Current Expenses:
Mortgage               $1353
Utilities                   $ 470
Insurance               $   70
Food                       $ 500
Car                         $ 368
Medical                  $ 220
Credit Cards          $1275
Church                   $ 100
Total Expenses       $4356  

Monthly Expenses V Remaining:  $4356/503 

Of course, as the cards are paid off, the payments go down.  
Prosper Loan can be paid out of remaining monies ($503-$356.53=$146.47)