Eric's Credit Community

Hello.

Thank you for taking the time to look at my listing. My name is Tracy and my husband Bill and I have started a hobby shop and radio controlled off-road racetrack in central Phoenix. With excellent results, we have found ourselves short on items, and would like to get a loan to add more products to our inventory. The name of the hobby shop is Mayhem Hobbies and the race track is Papago RC Raceway.  

I have been fully vetted by my group leader, and also sent him a copy of my FICO score which shows that I should be at a C, not a D. We just paid some high balance credit cards off that we used during the start of the business, and paid off our 2003 Mazda MPV. Some of these items are still on our credit report and translates into the DTI that you see.  

Who we are:

I am in the military and receive a steady salary from the Air Force each month. I have been in service for 12 years and expect to stay for at least another 8 years, maybe more. My pay pays all the bills, puts money in savings, and funds our IRA?s. My husband is a disabled vet and receives a guaranteed check from the VA each month.  He has used this check to start the business, and currently goes into savings. As you can see, we have decent amount of guaranteed steady income to repay this loan. You will not be disappointed in helping to fund.  

What the loan is for: 

As said before, the loan will increase our inventory so that we will have more of a selection so that the customer does not have to wait for a part to be ordered and delivered. We hold races at our track every week in which the racers pay an entry fee. During racing, a lot of parts get broken, and the racers come in to buy replacement parts. Also, we sell parts that upgrade cars to make them faster and handle better, so you can see how the track supports the hobby shop. We are also working on a website, (Look Here), which allows racers to see our live inventory, and can order and pay for parts online.  

How we will repay the loan:

Here is the breakdown of our monthly budget:  

In
Me- $4475.00
Husband-$805.00 
Total- $5280.00 

Out
Rent- $1050.00
Car- $375.00 (other car just got paid off)
Insurance- $175.00
Credit Cards- $250.00
Utilities- $500.00 (electric, phones, cable, internet, water, trash)
Groceries- $450.00
IRA?s- $250.00
Savings- $2230.00 (includes money for daily living, gas for cars, recreation)
Total- $5280.00  

As you can see, we make more than enough to pay pack this loan. We thank you again for viewing our listing.