Loan to Purchase Existing Business
| Listing Information |
| Amount: | $15,000.00 |
Status: | Loan created |
| Grade: | B |
DTI: | 40% |
| Lender Rate: | 14% |
Borrower: |
amorrill
|
| Time Left: | Finished |
State: | IA |
| Funded: | 100% |
Group: |
Fairplay Lending
|
| Loan Information |
| Loan Status:
| Default |
Origination Date:
| 2006-12-18 |
EricsCC ROI:
| -23% |
| Status History |
| Dec 16, 2006 |
Current |
| Jul 09, 2008 |
Late |
| Jul 19, 2008 |
1 month late |
| Aug 19, 2008 |
2 months late |
| Sep 19, 2008 |
3 months late |
| Oct 19, 2008 |
4+ months late |
| Oct 23, 2008 |
Default |
Hello,
I am looking to borrow some start up capital to purchase an existing business.
The business has been around for five years and has been profitable every month
since it opened. It is a Tanning Salon in an excellent location. The equipment
involved is all paid off so the overhead costs are simply utilities, labor and
lease. The salon has never done any advertising or set up any recurring monthly
memberships. Doing both of these will I believe increase revenues
substantially. We already have bank accounts and a C-corp. set up to keep the
business as separate entity and help things run smoothly. I have worked in
office management and customer service for years and my husband who will be
helping me run the operation is a finance and economics major, he was also the
store manager of a retail store giving him accounting, HR and sales experience.
We hope to work out a loan with Prosper members and then reinvest some of the
extra capital from the business back into Prosper to help others get started.
Thank You For Your Time and Happy Bidding. |
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