New Division Launch for 19 YR Co.
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 31% |
| Lender Rate: | 28% | Borrower: | Fossil_Creek_Stone_Co |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-01-17 | EricsCC ROI: | -52% |
| Status History | |
|---|---|
| Jan 14, 2007 | Current |
| Aug 01, 2008 | Late |
| Aug 19, 2008 | 1 month late |
| Sep 18, 2008 | 2 months late |
| Oct 18, 2008 | 3 months late |
| Nov 18, 2008 | 4+ months late |
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We are a family owned and operated graphics and publishing company, expanding into other creative products avenues. We have a long track record of successful business, since 1988.We have a 2700 sq. Ft. office, plus manufacturing space, and have been planning this new product division. We are excited to bring it to the marketplace using Prosper. We are leaders in our market segment and have had growth of 216% over scheduled business plan sales for 2006, so far to date. We have been in business since 1988 and have a solid balance sheet and substantial business and personal net worth. We are getting ready to launch our new division for 2007: Fossil Creek Stone Company(tm); which will be a division of our company and operated by our current management. This new division will offer cast fossil stone replication tile for the home, interior design markets, and corporate markets. This line dovetails with our current creative products. We have current space allocated for this expansion. Product margin is excellent, we have great channels to market, and we are leaders in this new product line; so we are offering a good return to you in exchange for your making funding easy and fast for this expansion. Our speed to market will help us capitalize on early corporate sales, and expand our lead in this market. CREDIT: My credit score at Experian shows a high ?C? rating on Prospers rating guide, but yet Prosper?s system still rates me a ?D?. I don?t know why. Late payments are not an issue. The score is such, even at the C level, due to balances from business accounts that are associated with the personal credit file, and how the ?FICO Score? scores those accounts. We were a sole proprietorship until Oct. 2005; so many business accounts affected our personal credit file from a balance point of view. We have no late payments or other issues on our file. Inquiries and accounts combine business and personal. DEBT TO INCOME RATIO: The ratio was figured on my personal income, and this loan is taken and guaranteed by me personally. This size loan will skew the ratio high on a single personal income. I did not add my husband?s personal income into the number, as it said not to. This loan will be used for, and actually paid for, by the business. We have high personal income to repay the loan personally and through the business. Your loan investment is secure. We have been in business since 1988. We love what we do; and we?ll be here doing it for 20 more years. THE LOAN: We are funding the launch with a $25,000 loan to fund the initial purchase of production materials, production equipment, initial marketing to build our expected client base, initial advertising campaign for the products, brochure production, and stocking of base products. Our initial market studies show early sales should be strong and consistent. Thanks for your interest, your time; and your investment. I look forward to working with you. Take care, enjoy time with your family, and Thank you. Fossil_Creek_Stone_Co |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 229784 | Equipment Upgrade for 19 YR Co. | B | $4,000 @ 8% | Nov 10, 2007 | Withdrawn |
| 229908 | Equipment Upgrade for 19 YR Co. | B | $4,000 @ 8% | Nov 11, 2007 | Withdrawn |
| 230066 | Equipment Upgrade for 19 YR Co. | B | $4,000 @ 17% | Nov 11, 2007 | Cancelled |
| 267146 | Capital Investment Into 20 Year Old Company | B | $6,150 @ 17% | Jan 17, 2008 | Loan created |
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