HEADER

A credit grade

Homeowner     Account verified

24% debt to income ratio

First of all, let me state that the delinquency was on my cell phone bill has resolved.  The issue stemmed around the fact that I had my cell phone being paid by one of my credit cards via electronic payment.  I ended up closing my credit card, but didn't make other arrangements to pay the cell phone bill.  Once I received the bill stating that I was delinquent, I immediately sent a check to Cingular.  If not for this incident, my credit rating would be AA.

Before telling you about my business, let me tell you about me.  I work for Bank of America analyzing data for their credit card portfolio via a software package called SAS.  I look at everything form seeing who will respond from a direct mail offer to see who is likely not to pay back their credit card balance.  The one thing I see a lot of is that we outsource most of our work to other companies.  We pay them obscene amounts of money to do something that one of us could do at the office.  This got me to thinking about how much money they pay for something so easy for an employee to do.  I am also finding out that this is the norm across large companies.

Therefore, I want to start up my own company doing exactly the same thing as the companies we outsource work to.  Honestly, I have seen Bank of America pay a company 1 million dollars for something that takes less than 3 months to develop.  Please note that initially in the business, I will continue to work my current job and will not be an eligible company for outsourced work form Bank of America.  My main target market will be large companies that are analytically challenged, thus outsourcing to other companies.

I expect to use the money in the following ways.
$500 for incorporation
$5000 for computer/server
$1000 for essential software
$1000 to build a professional yet simple website
$500 per month for a dedicated T1 line(6 months)
$500 per month for storage on a dedicated server *6months)
$10000 Marketing and Travel Budget
The rest will be for incidentals (things always come up)

Please note that I have over 100K set aside in my 401k and IRA's if needed, but I don't want to draw the money out unless needed (due to the 10% penalty).

My goal is to have the $25k paid back in 1 year.