A Well Respected Publisher
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,999.00 | Status: | Loan created |
| Grade: | E | DTI: | 20% |
| Lender Rate: | 20% | Borrower: | in3d_neal |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Everyday People |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-17 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jan 16, 2007 | Current |
|
My name is Shannon and this is a relist for a personal/working capital loan for my new publishing business. For over 10 years, I've been the creative mind at a newspaper business in Dallas/Ft. Worth, Texas and have now moved on to become a publisher myself. I'll be continuing a very successful classified advertising/newspaper business under a new name which has been respected by the community and is also very charitable to numerous national organizations. I have a great working crew (commissioned), equipment (PCs, phones, Macs, office furniture), and retained many advertising clients who are ready to do business in 2007. My income in 2006 was approx. $38k (net) and will grow to atleast $70k in 2007 as owner. Revenue from the advertising side of this business alone will bring in approx $10k/wk for the first half of 2007 and is expected to grow to $22k/wk by the end of 2007. This loan will be used to purchase new free-vend distribution boxes ($2,000) and serve as working capital (~$650 printing cost/wk). I have money saved to pay utilities and other expenses, but box purchases is a must. My DQ's within the past 7 years are due to unemployment between 11/2002 to 1/2003 which caused me to fall behind on 2 credit cards. I paid off 1 account and am settling the 2nd soon. I paid down half of the balance on my WAMU Platinum card in December (perfect payment record/never late). Although my ScoreX says I have 2 recent DQ's, those have been cleared and were caused by late paychecks in Oct & Nov from my previous employer who has left the publishing business (cancer in his family). I am working very hard to bounce back. My new publishing business is set to kick off in late January to early February. I will be doing part-time contract software-engineering/DBA work in the computer industry for 5+ months at $25/hr and this loan will be paid by both personal income and help from business advertising sales revenue. My $500/mo rent is less because I rent a house in town from my parents. They are freezing $400/mo to help me with this new business. Food expense is low because my father is retired and cooks me dinner every night. In return, I watch TV with him. It's great! Thank you all who help make this business dream come true. 2006 INCOME:$2,500/mo to $3,100/mo 2007 FORECAST INCOME: $4,800/mo to $5,900+/mo MONTHLY EXPENSES: Internet/DSL: $40 Cell: $80 Truck: $405 Insurance: $99 WAMU Credit Card: $40 Gas $120: (work in town) Rent: $500 - $400 = $100 (shared utilities) Food: $100 Entertainment: $300 to $400 Prosper Loan: $212.22 -------------------------------------- TOTAL MONTHLY EXPENSES (TME):$1,596 MINIMUM MONTHLY INCOME (2006MMI):$2,500 MINIMUM MONTHLY INCOME (2007MMI):$4,800 -------------------------------------- 2006MMI ($2,500) - TME ($1,596) = $904 left over 2007MMI ($4,800) - TME ($1,596) = $3,204 left over Leftovers I store away to pay income taxes (employer didn't deduct). The rest I put into savings. For more info: http://forums.prosper.com/index.php?showtopic=14458&hl= I'm Vetted by StaciM: http://forums.prosper.com/index.php?showtopic=14880 I will post more info to my profile if needed. Thank you! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 66867 | Community newspaper opportunity | E | $25,000 @ 17% | Nov 27, 2006 | Withdrawn |
| 67374 | A traditional community newspaper dream | E | $25,000 @ 25% | Nov 28, 2006 | Withdrawn |
| 68896 | ReList - Business Opp + Debt Payoff | E | $10,000 @ 23% | Dec 01, 2006 | Withdrawn |
| 70352 | Business opportunity + debt reduction | E | $15,000 @ 23% | Dec 04, 2006 | Withdrawn |
| 71960 | Seeking to continue publishing and help community | E | $15,000 @ 28% | Dec 08, 2006 | Withdrawn |
| 72817 | My opportunity and dream | E | $10,000 @ 29% | Dec 10, 2006 | Withdrawn |
| 73347 | Funds to help with business dream | E | $11,000 @ 29% | Dec 11, 2006 | Withdrawn |
| 74236 | Keeping my dream alive | E | $10,000 @ 29% | Dec 13, 2006 | Expired |
| 78478 | A GREAT publishing business | E | $8,100 @ 28% | Dec 27, 2006 | Expired |
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