How To Make Big Money With Your Own Business Financing Service (Part 1)
The Free Credit Card TrapThey arrive in your mail - a conspicuous looking mail piece from some "official looking" bank claiming that you ..... If you've been wanting to get into something that doesn't require all of your time, yet could give you an income of $100,000 per year or more, a Business Financing Service is definitely something you should consider. This is the kind of business that requires no special education or even a storefront office; won't take much of your time, yet offers more prestige, power and fast earning potential than just about any business opportunity available to the ordinary working person. The average net profit of people in this kind of business is $75,000 per year, before taxes. Most began on a part-time basis, operating out of their homes. Within a short period of time, varying with expenditure of time and effort, most have luxurious professional office suites with many clients from all over the country calling and asking for help. Perhaps best of all, this is a business you can operate with nothing more than a part- time secretary/bookkeeper, a telephone, and business cards. There are many facets of this kind of business, which involve bringing lenders and borrowers together for venture capital, operating capital, expansion capital, and of course, mortgages of all kinds. Concerning mortgages, look at it from this point of view: Almost every building in the country - homes, office buildings, factories, apartments - has a mortgage on it, and somebody is making some really big commissions bringing together the people wanting the money and the people wanting to lend the money. A business financing or money brokerage business is the ideal sideline business for real estate brokers, sales persons involved in business sales, investment brokers, attorneys, accountants, and retirees from almost any occupation. This is definitely one of the truly recession-proof businesses that actually seems to flourish in times of tight money.
Your Potential Market:
Each year, more than 10 million business loan applications are filed with the banks in this country. It is not uncommon for these banks to be working on more than 250,000 business loans each week, in amounts ranging from $25,000 to well over a million dollars. About 65 percent of the loans actually granted by the banks are short-term commercial loans; only about 25 percent are for longer terms, with fewer than ten percent granted for construction projects. It should then be obvious that the banks in this country are neither speedy nor generous in giving loans to the beginning or small business entrepreneur. Such business people usually ask for loans of longer duration than the banks are willing to grant. It is easy to see that in a beginning business, smaller installment payments will reduce pressure on the borrower, and allow him to put more of the profits back into the business. In most cases, these small business owners need much more than the banks are willing to allow without all kinds of guaranteed collateral. And that, of course, is the reason why people needing money for their business success turn to business financing consultants, which provides you the opportunity for success in this field. You'll find that beginning or small business persons are always on the lookout for professional business financing services. They always seem to need more money than they have available, and they never seem to get quite the help or satisfaction they seek from the banks. The pressing need for more capital is not something that plagues only the beginning or new business. It is an ongoing need in almost every growing business also. In fact, the need for a continuing input of new money is a necessary part of the growth cycle of every business. Generally, the "little guy"' just doesn't have the extra cash from last year; he does not have the money it takes to set up a stock market program; and he doesn't have the time to devote to (or he doesn't want to attempt to "sell" his friends) an investment program in his business. Sometimes these small business people will talk with their accountants, lawyers or stockbrokers and ask them to help in finding people with money to invest. Most accountants, lawyers and stockbrokers are in touch with clients who have money they are willing to invest in growing businesses, or people with "sure-fire" money-making ideas. Whether these professional people do or do not have special clients with money to invest in special "deals" is of no consequence. The important thing is that these people are always being asked by someone if they know of a source of money, or if they know of someone who can locate an investor for them. With this in mind, and once you're set up in business, it will behoove you to contact these people - the accountants, lawyers, and stockbrokers in your area - to get to know as many of them as you can, and to leave your business card, so they will be aware of your services.
The Services You'll Provide:
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Generally, the money broker or person operating a business financing service will work with his or her clients in putting the loan application package together in such a way that it will receive favorable consideration by the lender. You'll have the names, addresses and telephone numbers of lenders from all over the world, people and firms interested in investing in all kinds of different business ideas and for virtually any amount of money. When you have a complete loan application ready for presentation, you'll select the lenders or firms interested in that kind of business or investment. Either send or present the loan application package to them. One thing is most important: When you present a loan application package to a lender, be sure to have the date and time of your presentation certified by a notary public. When you send a loan application to a lender, be sure to certify the mailing of your package with the Post Office. Once you "open your doors" for business, there will be no shortage of people coming to you for their money needs. The problem will be electing just the requests you know, logically, stand a reasonable chance of approval. Everybody wants and needs money; once you announce that you can get loans for people who need them, you will be overwhelmed with requests. It will be up to you to utilize your time, expertise, and effort according to the greatest profit potential.
Setting Up Your Business:
You can start from the kitchen table in your home if necessary. You'll need a telephone and unless you have someone to act as a secretary, you should employ a telephone answering service. You can probably get by with a telephone answering machine, but because you're dealing with money, it's important that you project an image of success (and a telephone answering machine quickly identifies you as being a one- person operation). In addition to a telephone, you will also need business cards. These, of course, should be of a fine quality (this is not a very large expenditure). They, should simply state your name, followed by the name of your services - Business Financial Services. You may list your phone number in the upper left-hand corner, something such as "Money for Every Need" in the lower right-hand corner, and of course your name and firm name centered in the middle. Assuming you are working out of your home, once you have moved into an office, you would certainly want to make new cards showing your business address. It wouldn't hurt to have a calculator, a computer, and at least a small file cabinet as you set up your business. But just as people got along before without these amenities, you can make do until you can afford this equipment. Once you are organized in a work area and with the basics for operating your business, the next move will be to get the word out that you're ready to offer your services to people needing money, and for people who are willing to invest. This means advertising, visiting, making contact in some way with both the people needing money, and those wanting to realize a profit in the process of lending their money. And don't forget - often those who do not go with you for one reason or another may supply you with fine referrals. The more you advertise and talk to people about your services, the more successful your business is going to be. So first of all, we suggest you run an ad in the classified section of your local newspapers. It might read like this:
MONEY AVAILABLE! Business start-ups, expansion needs, construction loans, cash-flow problems. Call 123-4567.
You should run such an advertisement in as many of your area papers as you can afford, every day, for at least a month. This means that you'll have to have an advertising budget, with the money either coming in (or available) to meet these costs before you even contract to run your first ad. (This is part of the necessary planning that has to be done before you actually open for business.) At the same time you're running the ad inviting people to come to you for their money needs, you should also be running a daily ad such as this one:
SkipTracingThe debt collector is very good at using all the information at their disposal .....
$350,000 NEEDED! Will pay maximum interest. Growing business, excellent profits and tax benefits. Call 123-4567.
Now the purpose of the first ad is to build your list of people wanting money - needing loans that you can process. The purpose of the second ad is to build your list of investors in your area with money to put into some of these business proposals you get from the first ad. Obviously, you'll get more people wanting to borrow money than people with money to invest; but once you begin running these two advertisements, you'll be on your way. When you place your first ads, start checking and following up on similar ads you see running in your area newspapers. Usually, they will be listed under "Financial Loans Wanted," or "Money to Loan." However, don't neglect to check the "Business Opportunities Wanted" classification as well. When someone calls in response to your "Money Available" advertisement, who ever is acting as your secretary should get the name of the caller, the name of the business, the telephone number, amount of money needed, kind of business, and most appropriate time for a consultation. This can be handled most efficiently with preprinted telephone message pads. So you simply collect information from all these incoming calls, look it all over and start making your call-backs. Basically, your call-back conversation should sound something like this: "Hello, John Jones? This is Mr. Money Broker returning your call about money for business financing. I understand that you're looking for about $100,000 in order to set up an auto tune-up shop. You stated that you are already pretty well organized with a business plan and location, and that you feel you have pretty good collateral. That's very good. Before we talk any further, however, I'd like to tell you a little about our company. "We represent a number of large lending organizations for business financing, as well as a number of private investors who are looking for new ideas and businesses to invest in. Their primary requirement, of course, is that they be assured of getting their money back, but further that they will make money from such an investment. "What I do is work with you in preparing your loan or investment package so that it ......
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