Wine Shop Startup Good Investment
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 49% |
| Lender Rate: | 11% | Borrower: | avcbtvet |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-24 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Jan 24, 2007 | Current |
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About Me My name is Chuck [LAST NAME DELETED]. I am 43 years old. I am the Director of Technology for Central Catholic High School in Modesto, California. My gross annual salary is $72,798. I am a 20 year retired US Army Combat Veteran (2002). I served in the 82nd Airborne Division in Grenada, Panama, and Desert Storm. I have a retirement Gross annual income of $25,320. Total Gross income is $98,124. I just received a raise from Central Catholic, therefore my DTI is incorrect. I have an MBA from the University of Phoenix (2005). About Our Dream Business My wife (Laura) and I are starting a wine shop business and have all but the last 10% funded through our home equity loan. We have an awesome business plan and the experience to back it up to totally pull this off with out even blinking an eye. My wife worked at ?The Wine Shoppe? in Modesto for two years until the owner retired and closed the shop. The previous wine shop had gross average monthly sales in excess of $350,000. We have maintained contact with the previous owners of the Wine Shoppe and all of the loyal customers. Plus, we have added many new contacts from Laura?s job at the winery. We have a vast email and street address list of hundreds of wine drinkers in the community. We commonly hear, ?Modesto needs a place like that!? when we share our plans with others. We have the support of all of the local wine distributors and wineries. We are well known within the Modesto wine community. About Our Wine & Retail Experience Both Laura and I have over 14 years of knowledge and experience in the wine industry. Laura worked at the Wine Shoppe in Modesto for two years, where she sold wine, scheduled wine tastings with wineries and distributors, led wine education classes, and launched a monthly wine club. Laura then began working for Olde Lockeford winery in Lockeford, CA (Lodi region). She worked there for two and a half years where she poured wine and managed retail sales in the tasting room. She was also in charge of representing the winery at fundraiser and award tasting shows. Laura and I both marketed the winery?s wine and poured at many public and private wine events across the state of California. We are both wine enthusiasts and see a great opportunity to share our knowledge with others while establishing a very profitable business. Credit Issues My Prosper score is AA or a 766 credit rating right now as you can see from my three credit bureau score I have posted. We have attempted to get bank loans and SBA loans. Due to a BK 9 years 7 months ago no one will finance us as a startup business. The BK occurred while I was in the US Army right after returning from IRAQ. I was stationed in a high cost living area as an Army recruiter in Los Angels California and I was earning E-6 pay which didn?t cover the bills. We had to rely on credit cards to make our monthly living expenses. Directly after leaving Los Angeles, CA we were stationed at Schofield Barracks, Hawaii. More expensive than Los Angeles. We had no choice but to declare BK to have enough money to survive. Since that time, over 9 years ago, we are both different people?older, wiser, and more educated. We have worked hard to establish and maintain perfect payment records and excellent credit since then. As you can see by my credit score I do not miss paying or delay paying my debts. I will not let you down and you can count on my word. Total Income available for Paying Bills and Debt $10,777 Total Owed per month $7,052.10 We will have $2,858.22 left to make the payments on my Prosper loan assuming a $867 Monthly Payment. Check out our website for more info ANGELS' SHARE WINE SHOP
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