3k Working Capital for Day Care
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Loan created |
| Grade: | HR | DTI: | 31% |
| Lender Rate: | 20% | Borrower: | thecatsclaw |
| Finished | State: | AL | |
| Funded: | 100% | Group: | FinancialAssistanceNetwork |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-24 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jan 24, 2007 | Current |
|
Our mission is to provide quality childcare services for children. We are following the developing Early Learning Guidelines for the State of Alabama. We are just now involved in the Success by Six programs. We offer a good healthy nutritional program to assist in the children?s growth with three meals a day with two snacks based on the USDA meal patterns. The State of Alabama Department of Human Resources governs the business strictly. We offer more than other Childcare centers. First of all our operating hours are from 6 am to 12 Midnight, Monday to Friday. Families with late shift schedules use our center. Second, we are a true child development center. The schedule we follow incorporates each learning stage from object recognition, reaching, or grasping in Infants to colors, letters, numbers, and word form in Toddlers to reading, writing, and math in pre-school children. We have a trained tutor in the evening to assist the school age children with homework. I am requesting this loan for repairs to the buildings. Our students are from low-income subsidized families, which mean that the Childcare Management Agency?s (CMA) check comes once a month on the 20th or later. I, of course, have payroll, insurance, utilities, and other bills that are due on earlier dates. Currently we meet this need by using a plan called Accounts Receivable Factoring. This money will be used to perform repairs that are needed on the buildings. Childcare Center?s Monthly Income is $12,000 and the Monthly Expenses are $10,900. We should begin the monthly Child and Adult Care Food Program in January. Estimates show that the reimbursement towards food purchase will be $2,800 per month. This makes profit $1,100 +$2,800 = $3,900. In respect to my personal credit, I do have one bad mark. I own one piece of rental property that I was forced to evict the tenants. This occurred in March and April of 2006. The tenants were not paying rent, which put me behind in the mortgage. The mortgage started foreclosure on the property even though I was in contact with them. However, I cleared the late mortgage payments and the loan is now in good standing. I have good tenants that pay on time and are considering purchasing the house from me. Currently, all of my bills are current and on time. I also have two unpaid bills, however, these bills have been paid. One is for $31 to American Family Care, I have spoke with them again and they are clearing it up. The other is for $26 to Children?s Hospital; this was paid by my stepdaughter?s mother and should be cleared up soon. I have given Children?s Hospital a copy of the receipt where it was paid. I also discovered that one of the credit agencies has the mortgage of the house we live in listed on my credit. The house we live in is my Husband?s name and should not be included in by DTI ratio, I am trying to clear that up. My Income: $6,931 monthly salary from my Full time Technology Manager job, the Child Care Center, the Rental house, and one Bookkeeping client. My Expenses: $4,200 for cars, childcare van, auto insurance, rental mortgage, two $500 limit credit cards and utilities. Thank you from considering my loan request and helping my business remain stable and grow to it?s full potential. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 60524 | Working Capital for Child Development Center | HR | $15,000 @ 19% | Nov 12, 2006 | Withdrawn |
| 63204 | Working Capital for Child Development Center | HR | $15,000 @ 27% | Nov 17, 2006 | Expired |
| 71332 | $25k Working capital for Day Care | HR | $25,000 @ 29% | Dec 06, 2006 | Expired |
| 75967 | $10k Working Capital for Day Care | HR | $10,000 @ 29% | Dec 18, 2006 | Expired |
| 78193 | $10k for Childcare working capital | HR | $10,000 @ 29% | Dec 27, 2006 | Expired |
| 224372 | Expansion Capital for Day Care | E | $15,000 @ 29% | Nov 01, 2007 | Withdrawn |
| 227333 | Expansion Capital for Day Care | E | $10,000 @ 29% | Nov 06, 2007 | Withdrawn |
| 232739 | Expansion Capital for Day Care | E | $7,590 @ 29% | Nov 16, 2007 | Expired |
| 237521 | Expansion Capital for Day Care | E | $5,275 @ 29% | Nov 26, 2007 | Expired |
| 260377 | Expansion Capital for Day Care | E | $4,000 @ 35% | Jan 05, 2008 | Expired |
| 321830 | Debt consolidation loan | HR | $10,000 @ 35% | Apr 30, 2008 | Expired |
| 356347 | Debt consolidation loan | HR | $4,000 @ 29% | Jun 24, 2008 | Expired |
| 377434 | Debt consolidation loan | E | $2,500 @ 25% | Aug 04, 2008 | Loan created |
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