Welcome to the second installment of Pimp my Listing. I was in the previous loan by these entropenours. That loan was paid as expected.
I placed $50 bids @ 14.94, 15.94, 16.94, and 17.94.
This is a super clean C requesting $25K @ 29%.
Purpose of loan:
Banana Books, LLC has maintained a wonderful working relationship with Prosper Lending. We have successfully used Prosper in the past to finance our working capital needs. The proceeds of this loan will go to acquire inventory (COGS) at the end of the current academic semester (December). We will then quickly turn around and sell this inventory in January.
My financial situation:
Historically, Banana Books has earned a 62% gross margin and 35% net income. We are very keen on mitigating fixed costs and overhead. Almost every (90%) expense is variable.
Banana Books seeks to use Prosper Lending to augment existing bank credit lines and private equity.
The $25,000 from Prosper will be used as Working Capital to acquire COGS
Banana Books will be able to sell the books for $256,278.24 in net sales in January.
All notes will be fully repaid shortly thereafter.