Exploding Business! Need Help with Expansion
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,500.00 | Status: | Loan created |
| Grade: | C | DTI: | 18% |
| Lender Rate: | 15% | Borrower: | bblackman |
| Finished | State: | KS | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-02-26 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Feb 24, 2007 | Current |
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I would like to start by saying thanks. I appreciate your interest. This $8,500 dollar loan is going to be used for expansion of our rapidly growing company. My partner and I started a marketing company, in May of 2006, and in the last 6 months we have done over $165,000 in gross sales. We are growing over 15% per month, and will hit almost $500,000 in sales in our first year. There are only two employees besides our selves, and are always developing new ideas. We are currently debt free, and previous loans taken out individually have always been paid on time and never late. We are currently in the process of purchasing the licensing of a program that we are selling. The licensing will cost $30,000, and we are currently $8,500 short without exhausting our reserves. Buy purchasing the licensing; we will increase our net profit by 16.95% percent. Our expenses are as shown: Monthly Gross Income = $38,000 Monthly expenses Rent= 850 Phones/internet= 720 Payroll/payroll taxes= 9,300 Marketing = 14,000 Total = $24,870 Net Income = $13,130 Reserves = 5,000 at all times You have no need to worry about us paying our debt. Not only do we keep a reserve, but I personally am able to pay for the loan out of pocket as well due to the success of my wife?s company Jade Design, which has produced over 5,000 per month net revenue for the last 3 years. The Net revenue is used only for her expansion and nothing else. As a company we are financially sound, along with personally. Thank you. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 93345 | Simplify life Consolidate!!! | C | $13,800 @ 17% | Feb 04, 2007 | Expired |
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