Cattle Ranch in Kentucky
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 163% |
| Lender Rate: | 13% | Borrower: | ThePeacockGroup |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Texas Excellence |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-02-13 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Feb 15, 2007 | Current |
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This is our second request for a loan from Prosper. Unfortunately, the first one ended when Prosper was not able to verify our stated income. Our Prosper account is in my name and they will not allow us to open a second account at the same address with the same bank account in a second name, so all that I could send in was my W-2 form at the part time job that I hold to maintain health insurance. The majority of our income is listed in my husband?s name. But to Prosper, it means that our Debt to Income ratio is absurd. We are sending full documentation on our corporation and other income to our Texas Prosperer Group Leader, Alex. He has been a great help and continues to be an inspiration in this endeavor. To see the story, I am reprinting some of our request below. You can see the rest of it at: https://www.prosper.com/public/lend/listing.aspx?listingID=75956 You can also check out the full forum discussion here. As you can see, we were funded within hours and we were quite appreciative of the lenders who saw merit in our request. We have never been late on a payment. Our record is both long standing and flawless. Once again, we will start this request at a level that cannot be refused. Where it ends is entirely up to you guys, the lenders. There is still lots to do on the ranch and paying off that credit card is a major part of it. In addition, we still need the scale, squeeze shoot and 18 additional cows. So, we are making the same request a second time. Apologies and thanks go out to the bidders who contributed to 100% funding on our original listing. We are working with Prosper and making a claim to only my personal income from the part time job that I hold simply to maintain health insurance. We are assured that a second fully funded listing will close by Prosper. ========= The Proposal To borrow $25,000 for purchase of cattle during the winter when cattle are cheap, to be resold in the summer. Background Last year, we found a gorgeous 188 acre ranch in Kentucky. . . . The Business Plan We have a new ranch with lots of grass, but without the cattle to take advantage of it, it will be a wasted winter. . . . We could expand on this explanation, but there is a gold mine of information available on us over the Internet that anybody can access. Our main website is here where you can access the majority of our other websites. There is a description of the Texas Ranch which is currently on the market at this site , but because of capital gains tax we would prefer not to sell until May of 2007. You can see some of our horses that we raise at http://www.CaspianHorse.com and http://www.Friesian.info . I am a geneticist and we maintain the entire genetic base of the endangered Caspian Horse for the North American continent at our ranch. In addition, we have a large summer time business in our flea products. FleaSmart is a top commercial flea site. But it is a seasonal business and there is little work and a corresponding little income in the winter. We have a zero advertising budget because if you are high enough on Google, etc. you don't even need it. Our credit rating is AA and we have never been late on a payment. We do have real estate mortgages, but the cars are all paid for and there is essentially zero credit card debt as it is typically paid off each month (although because of the snafu for the last Prosper loan, we have used a card for the first set of cattle.) The down side? |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 75956 | Start Up for Cattle Ranch in Kentucky | AA | $25,000 @ 9% | Dec 18, 2006 | Cancelled |
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