New year for new success in business
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 21% |
| Lender Rate: | 20% | Borrower: | Interwhiz |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Sonic Lenders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2007-01-24 | EricsCC ROI: | -67% |
| Status History | |
|---|---|
| Jan 24, 2007 | Current |
| Jun 09, 2007 | Late |
| Jun 25, 2007 | 1 month late |
| Jul 03, 2007 | Current |
| Jul 09, 2007 | Late |
| Jul 25, 2007 | 1 month late |
| Aug 28, 2007 | 2 months late |
| Sep 25, 2007 | 3 months late |
| Oct 30, 2007 | 4+ months late |
| Feb 18, 2008 | Default |
| Mar 06, 2008 | Repurchased |
| Jun 10, 2008 | Default |
|
Why I need a loan: I am a disabled veteran and an entrepreneur that has a hard time getting the help I need to effectively continue growing my internet marketing business. After my exit from the military 6 years ago I had trouble finding work and with bills unfortunately led to present credit rating. I have been working towards building my business for almost five years now. What I would like is to get the financial backing I need to finally get my business off the ground. I have the drive, client contacts and strategy but lack the funds to make things happen. Summary: Loan Request: $15,000.00 Interest Rate: 20% Payment: $557.45 Purpose of loan: Program/Team Development - $12,000 Marketing/Advertising - $3,000 Yearly Income: Borrower - $49,550 VA Disability Compensation - $15,144 Monthly Net Take-home ? 3,000 - 5,000 depending on acquiring new clients or returning service. Current Monthly Expenses: Rent: $1050 Combined Utilities (water, gas, electric) $120 Auto ins. $95 Auto Gas: $200 Food: $400 Toiletries: $40 Mobile Phone: $73 Home Phone: $60 Business 1-800 #: $15 Business Expenses: Minimal. I may spend gas to get to meetings (included above) occasionally. Other business supplies like paper, pens etc. I purchase quarterly at around $40. If broken up monthly would come to about $13/mo. Merchant Account: $21 Television Cable / Internet: $109 Health/Dental Ins.: $0 covered by VA Expenses v Remaining ($3,000): $2,196/$804 Expenses v Remaining ($5,000): $2,196/$2,804 Expenses w/Prosper Loan: Rent $1050 Combined Utilities (water, gas, electric) $120 Auto ins. $95 Auto Gas: $200 Food: $400 Toiletries: $40 Mobile Phone: $73 Home Phone: $60 Business 1-800 #: $15 Business Expenses: Minimal. I may spend gas to get to meetings (included above) occasionally. Other business supplies like paper, pens etc. I purchase quarterly at around $40. If broken up monthly would come to about $13/mo. Merchant Account: $21 Television Cable / Internet: $109 Health/Dental Ins.: $0 covered by VA Prosper Loan: 557.45 Expenses v Remaining ($3,000): $2,753/$247 Expenses v Remaining ($5,000): $2,196/$2,247 Other Items of Note: The DTI is incorrect as my permanent VA Disability Compensation is non taxable and wouldn?t be shown on my tax documents. Also my prosper credit rating shows that I currently have 3 delinquent accounts but I am unaware of these and they do not show up on my credit report. I am working to have them removed. Last year my business grossed $34,406 in addition to my permanent VA disability compensation of $15,144. Last year's total income was $49,550. I seldom make under $3,000 grand a month. Some months I make around $5,000 so if I happen to have a couple of slow months I will have made enough in the previous months to remain stable. Also I am self employed so I don?t pay taxes until the year?s end and since I work from home almost everything is a business expense which helps during tax season. Thanks for your consideration! |
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