Listing Profile Bid History Loan History

Listing Title


Loan Information
Loan Status: 1 month late Origination Date: 2008-06-02 Payments Made: 5 of 36 Total Payments: $4995.93 / $25000.00

Listing Summary

  

Borrower Info
Requested Amount: $25000.00
Lender Rate: 24.94%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $993.20
 
Borrower: Indigoreef
Location: FL
Group: CashfundersLoans
Group Fee: 0.00%

Credit Profile
Credit Grade: B Homeowner: Yes Account Verified: Yes Debt To Income: 0%

Extended Credit Data
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Listing Description
Purpose of loan:
This loan will be used to purchase equipment for my new restaurant.

My financial situation:
I am a good candidate for this loan. I have 16 years in the restaurant business. I have 11 years with Outback Steakhouse. When I was promoted to Managing Proprietor I was the youngest Partner in the Company. Extraordinary service is my specialty. I have assembled a highly experienced management team for my new venture. Combined we have dozens of years of experience in opening and operating high volume restaurants. Our partnership has contributed nearly $400,000 in Equity. All key management has a vested interest in the success of the venture.

The location: High profile location in busy strip mall - we have the exclusive. No other restaurants allowed.
The theme: Underwater ocean reef with aquariums .
Ambiance: Polished casual, upscale
Seating is 156 inside including a full bar.
Scheduled to open June 08

For more details and a full menu please visit our website http://wwww.indigoreefandgrill.com
We are trying to buy the last pieces of equipment with this cash. Even at the higher interest rate it is much cheaper than the lease terms that include prepayment penalties and a poor buyout. This will help our cash flow.
Thank you!

Monthly net income: $ 12,500
Monthly expenses: $ 11,500
  Housing: 
  Insurance: $
  Car expenses: $
  Utilities: $
  Phone, cable, internet: $
  Food, entertainment: $
  Clothing, household expenses $
  Credit cards and other loans: $
  Other expenses: $