Listing Profile Bid History Loan History

Listing Title


Loan Information
Loan Status: Current Origination Date: 2008-06-13 Payments Made: 6 of 36 Total Payments: $1123.75 / $5500.00

Listing Summary

  

Borrower Info
Requested Amount: $5500.00
Lender Rate: 13.55%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $186.78
 
Borrower: MA-Moonwalk
Location: MA
Group: (NoGroup)
Group Fee: 0.00%

Credit Profile
Credit Grade: B Homeowner: No Account Verified: Yes Debt To Income: 29%

Extended Credit Data
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Listing Description
Purpose of loan: 
   Looking to add 3 new rental bounce houses to my inventory.    High demand on amusement rental equipment in the South Shore area (MA). I Currently have one unit I purchased 3 months ago and everybody wants to rent these.  I turn down 2-3 people a day because I only have 1 unit. With this loan, I'll be able to increase sales and won't need to turn customers away.  No other renter within 35 miles!  Current moonwalk rents 4-5 days a week @ $120 per day. 

My financial situation:      
    I'm looking to increase bounce house rental income with an additional 3 units.  "Demand is higher than supply".  I'm not intrested in putting this size purchase on higher interest credit card.  I will have no problem making the monthly payment on this loan.  I have very little credit card debt, and have 3 paying jobs.  
    
    I work part time for a plastics company (Americad/ $32k-yr/), I opperate a succesful eBay sales business (EasyLaptopMounts/ $22k-yr) & have receintly started the rental business (MA-Moonwalk/ $2k-mo).  I'm making good money with these 3 incomes, and have been re-investing into the eBay & rental business.  Both are rapidly growing.  I see higher sales figures on the rental business and would like to expand quickly to utalize the summer / fall season to max sales.  I would like to expand the rental business to include up to 12 moonwalk rental units in the near future, but I feel 3 new units this year is a safe investment for the sales demand.

Secure loan:  I've made all payments on-time for the past 5 years for all credit cards and payments due.  The amount of this loan broken down into monthly payment will NOT be outside of my means.  I'll have no problem making the monthly payments and I also have $2k+ in my savings account if needed. 

Thank you all for your time in reading over my request for a $5500 loan to expand my side rental business.  I have also signed up as a lender on prosper and will gladly start lending to others shortly.  This is a great site!   Thanks again!

Monthly net income: $3400

Monthly expenses: $1336   
Housing: $100.00  
Insurance: $98.00  
Car expenses: $470.00  
Utilities: $50.00  
Phone, cable, internet: $148.00  
Food, entertainment: $250.00  
Clothing, household expenses $75.00  
Credit cards and other loans: $145.00  
Other expenses: $150.00