Buying Accounting Practice
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 0% |
| Lender Rate: | 19% | Borrower: | cpaathome |
| Finished | State: | UT | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-31 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Feb 01, 2007 | Current |
| Aug 15, 2007 | Late |
| Aug 27, 2007 | Current |
| Apr 16, 2008 | Late |
| Apr 22, 2008 | Current |
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I am 35, married and have 3 kids. I am a CPA with 12 yrs experience. I began my own practice in Dec 06. This loan will be a down payment to buy an existing CPA practice to merge. Must move fast as a large portion of the annual revenue is earned during TAX TIME! Total family income (including acquired business) $17,750 Total family expenses 8,990 $8,760 remaining to cover the loan payment of $950 +/- per month. I have always had excellent credit (720+), until I went into business for myself. Use of credit cards for business start-up resluted in higher balances, lowering my credit score. My DTI, including the acquired business income and this loan, 35%. My husbands, 7.5%. Combined, 26%. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 83181 | Buying a CPA Practice | C | $25,000 @ 17% | Jan 09, 2007 | Expired |
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