Time To Stop Selling My Invoices 0/0/0
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Expired |
| Grade: | C | DTI: | 38% |
| Lender Rate: | 15% | Borrower: | mr_deluxe |
| Finished | State: | NY | |
| Funded: | 58% | Group: | (No Group) |
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My name is Scott. I live in the Central New York Area and wanted to thank everyone that bid on my first Prosper loan. Your investment helped me buy back part of my office cleaning business in Albany, NY that I sold at the start of 2006, the buyer decided she was not cut out for it. The transition went well and it is time to focus on a new year of increasing sales and cutting expenses. One of my biggest expenses are factoring fees paid to a funding company that buys some of my commercial cleaning invoices for a discount each month. I am under no contractual obligation to keep factoring each month but to stop suddenly would interrupt my cash flow. The funds from Prosper will be used to replace the advance I receive each month and stop factoring. My business pays an average of $1,100.00 per month in fees to the factoring company, eliminating this would more than cover the monthly payment for this loan. Recent Credit Inquiries: Shopping to refinance a rental property - done. Considered trading in my car ? didn?t do it. Applied for a traditional business loan from a few local banks - didn?t happen. Shopping for a mortgage on another rental property I have a contract on- should close soon. Click Here To See My Budget Thank you for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 23420 | Entrepreneur-strong 17-yr history purch.existing business | C | $15,000 @ 15% | Jul 07, 2006 | Withdrawn |
| 24266 | Cash For Business | C | $3,000 @ 15% | Jul 12, 2006 | Withdrawn |
| 24382 | Cash For Business | C | $3,000 @ 15% | Jul 12, 2006 | Loan created |
| 81833 | Time To Stop Selling My Invoices | C | $20,000 @ 15% | Jan 05, 2007 | Withdrawn |
| 85382 | Relist- Time To Stop Selling My Invoices 0/0/0 | C | $20,000 @ 15% | Jan 16, 2007 | Loan created |
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