Eric's Credit Community

   Our mission is to provide quality childcare services for children.  The educational programming for children placed in our care enhances learning in physical, emotional, social, and intellectual development preparation for later academic and social pursuits.  We are following the developing Early Learning Guidelines for the State of Alabama.  We are just now involved in the Success by Six programs.  We offer a good healthy nutritional program to assist in the children?s growth.  The comfort, guidance, sharing, teaching, learning, loving, and caring of children are our goals.
   The childcare center is for anyone requesting quality childcare services.  The State of Alabama Department of Human Resources governs the business strictly.  The strength and core competency of this industry is consistent quality childcare services.  Policies and procedures must be concise, legible and enforceable. The main priority will be to begin a consistent growth pattern to obtain a stable profitable childcare center.
   We offer more than other Childcare centers.  First of all our operating hours are from 6 am to 12 Midnight, Monday to Friday.  Families with late shift schedules use our center.  Second, we are a true child development center.   The schedule we follow incorporates each learning stage from object recognition, reaching, or grasping in Infants to colors, letters, numbers, and word form in Toddlers to reading, writing, and math in pre-school children.  We have a trained tutor in the evening to assist the school age children with homework.
   I am requesting this loan for working capital.  Most of our parents are low-income subsidized families, which means that the Childcare Management Agency?s (CMA) check comes once a month on the 20th or later.  I, of course, have payroll, insurance, utilities, and other bills that are due on earlier dates.  I plan on placing these funds in an interest bearing account.  I will pull from it when I need to pay bills and return the money when I receive the CMA check.  I currently meet this need by using a plan called Accounts Receivable Factoring (ARF) that is expensive.  Setting up an interest bearing type of account to pull monies from when I need it and then return it will help me greatly.  It will function the same as a Line of Credit.
   In respect to my personal credit, I do have one bad mark.  I own one piece of rental property that I was forced to evict the tenants.  This occurred in March and April of 2006.  The tenants were not paying rent, which put me behind in the mortgage.  The mortgage started foreclosure on the property even though I was in contact with them.   However, I cleared the late mortgage payments and the loan is now in good standing.  I have good tenants that pay on time and are considering purchasing the house from me.
  In respect to my true income, I only entered the W2 wages.  I also receive some monies from the day care in regard to the personal Van I use to pick up children, rent from the above house I mentioned, and bookkeeping fees that I receive from one business that I keep their books.  My debit to income would be some better if I could have put these items in as well. 
   Thank you from considering my loan request and helping my business remain stable and develop to it?s full potential.