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Books - A few thoughts occasionally worth thinking...
July 11th, 2006
09:48 pm


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So I'm using this alternative lending community to finance my business expansion, since the business loans have been declined. Shady bastards at the bank didn't tell me that I needed four years of credit history, only four lines.

Bid on my listing at Prosper, people-to-people lending

(2 comments | Leave a comment)

[User Picture]
Date:July 12th, 2006 10:45 pm (UTC)


be very careful

nice language. how do you know their birth status? you can say it better with regular english.

as in, I didn't like them at the bank because they didn't communicate all their needs to me before they declined my loan.

have you considered the SBA? they sometimes do loans.

how will the business go if Dom moves out?
[User Picture]
Date:July 13th, 2006 06:13 pm (UTC)

Re: lending

The business loan I tried for actually was an SBA loan, those are the easiest business loans to get. I wasn't approved, because I don't have four years of credit history; which they didn't tell me before I applied.
I'm cutting back to seven credit hours again in the fall and putting about 34 hours a week toward my business. Dominic will do a little bit part time hitting thrift stores in New Haven, also.
My loan on this site is fully funded to $2500, which is what I requested, based on keeping my debt/payment ratio below 20%. Now the interest rate is gradually being bid down. The $2500 allows me to double or triple my inventory, which will be a major boon to my business. Then as my capitalization improves, I can shift inventory procurement from thrift stores to book lots on ebay, which will improve my revenue growth even more.
I did want to talk to you about lending an additional $1000, then I could do your payments every month instead of every three months, which would be better for both of us; if you and Dad want to discuss that and then give me a call.
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