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How to Start a Loan Business

How to Start a Car Title Loan Business

How to Start a Personal Loan Business

How to Start a Payday Loan Business

How to Start an Installment Loan Biz

You know the drill. You have that burning desire to start your new business BUT you just don’t know where to begin. You’ve heard about all the money being made by “lending money to the masses.”

What’s that mean: “Lending Money to the Masses?” It’s the business of providing various loan products to consumers; car title loans, installment loans, personal loans, micro-loans..

You know in your gut that these loan businesses can generate SERIOUS profits for their owners! But you’re unsure of exactly what steps to take to be successful.

A recent study revealed 63% of U.S. residents cannot meet a sudden $500 car repair bill! Shocking!! What’s this mean for you? There is a HUGE and growing demand by consumers for access to small dollar loans. It’s no secret Silicon Valley is launching new lending platforms by the boatload. However, the majority of these platforms are focused on 680+ FICO scores. There is not a lot of new competition for the “unbanked” and “underbanked” employed workers that absolutely must get their hands on $300 t0 $2500+ quickly and without a lot of hassle.

You can fill this consumer need. We teach you how to make money by lending money. We teach you how to make collateralized loans to consumers [Car, boat, plane, RV, motorcycle…] and non-collateralized personal loans like payday, installment loans, micro and line of credit.

No one else does what we do! Doubt me?  Just start a search on Google for “how to start a car title loan business.” Or, search for “how to start a consumer lending business.” Jer & the Trihouse Team DOMINATE. The few competitors who have entered this title loan training space are long gone! We know our business. We’ve been doing it since 1997. Everyone in the title loan industry knows us and I guarantee everyone making car title loans or providing products and services to our industry has read our “Bible” or attended one of our “Bootcamps.”

How do you start a consumer loan business?

This is NOT rocket science! Should you buy a loan franchise? We say NO! Here’s why. The Trihouse Team has more than 20 years experience running businesses focused on car title, installment, payday loan, check cashing stores and Internet portfolios.

Get your copy today, take a few days to study it, then pick up the phone and call 702-208-6736 or email TrihouseConsulting@gmail.com with any questions.

Order “The Business of Lending Money to the Masses” Course

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Need more info? Have a question? TrihouseConsulting@gmail.com

How to Make Money by Lending Money to the Masses.

Step-by-Step What We Teach You.

Our “The Business of Lending Money to the Masses” Course will teach you EVERYTHING you need to know to make money in the lucrative consumer loan industry. We begin with an overview of consumer lending in the USA and continue with a thorough explanation and analysis of every aspect of starting and successfully running a profitable consumer small-dollar loan business.

Here’s a list of all the Chapters (500+ pages):

TABLE OF CONTENTS

Your First Steps: 17

Macro View of the Consumer Loan Industry. 19

State of the Consumer Lending Industry. 23

Hang-In There! The Future is Ours!. 30

Flash – It’s a Whole New Business. 33

The Future of the Consumer Loan Industry. 47

EXECUTIVE SUMMARY & the BUSINESS of LENDING.. 56

SECTIONS 1 – 9. 57

CONSUMER LOANS DEFINED.. 58

DEVELOPMENT OF DEMAND.. 59

CUSTOMER PROFILE. 62

THE NUMBERS. 64

REGULATORY ENVIRONMENT. 68

LEGISLATION SURVEY. 70

TRENDS IN FINANCING & VALUATIONS. 70

FUTURE OF THE PRODUCT. 72

The Loan Process: an Overview.. 74

Step-by-Step Procedures. 75

Consumer loan Procedures Step-By-Step Overview.. 75

Telephone Qualifications: Your Most Important Skill. 79

In Your Office, Step 2: 84

How to Calculate the APR Formula. 85

General Tactics. 90

Exhibits. 94

Loan Extension Procedures. 102

Typical Installment Loan Breakout. 105

Title Loans: Overview of the Product & Industry. 106

How Big Is the Title Loan Market. 107

How Title Lending Works. 108

Who Uses Auto-Title Loans. 110

Title Loan Profits. 112

Regarding Title Loan Legislation. 116

Laws & Regulations. 117

Title Loans: Documents You Need. 120

Recording the Title. 123

Title Loan Add-On Fees. 126

Title Loans: Repossession. 126

Title Loan Repossession Checklist. 129

Repossession: The Consumer’s Point of View.. 134

Defaults and Repossessions in Motor Vehicle Transactions. 147

Title Loan GPS, Starter Interrupt Devices – Payment Assurance Devices. 151

How to Value Your Loan Collateral 161

Title Loan Lender Philosophies. 166

Title Loan Lenders Serving Active-Duty Service Members NO-NO!. 166

Title Loan Resources. 169

Detecting Title Fraud. 170

Title Loan Forms. 173

Manloading & Personnel 178

Consumers typically apply for consumer loans as follows: 178

Profits: How Much Can You Make? 180

Sub-Prime Consumer Reporting, ID Validation & Credit Bureaus. 185

Software for the Business of Lending Money. 200

Features & Issues to Consider: 203

Consumer loan Software Vendors. 206

Electronic Funds Transfer (ACH & EFT). 211

Internet Lending: How to & Strategies. 228

How Internet Lending Works. 229

Your First Steps to Reverse Engineer an Internet Lender’s Loan Process. 230

Web Site Development. 233

Choosing a Domain Name. 233

Web Site Hosting. 234

Web Site Development. 235

In-House Development. 235

Out Sourcing. 237

Turnkey Websites. 239

Search Engine Positioning. 241

Keywords and Key Phrases. 246

Final Note on Google’s PPC Policy. 247

More on Pay-per-Click Search Engines. 251

Definitions. 252

Marketing Other Than Search Engines. 254

Affiliate Programs. 254

CFSI Small Dollar Loan Data. 257

Purchasing Loan Leads & Applications. 270

Buying Consumer Loan Leads. 270

Percentage of Applications Funded. 272

Fees to Charge. 272

Email Strategies. 274

Mobile Friendly Web Sites. 277

Faxing of Loan Documents. 281

Collections. 283

Debt Collector’s Phone Communication Required Statements. 291

List of Techniques & Procedures for Your Collection Campaign: In-House Approach. 292

Collection Record Keeping and Data Entry. 292

Typical Collection Letter Template. 300

Taking the Risk Out of Consumer Advances. 301

Collections: Final Thoughts. 301

Extended payment Plans. 302

Consumer Perspective on Collectors. 304

Collections. 306

COLLECTION LETTERS AND PRACTICES. 307

Avoiding the Pitfalls of Debt Collection. 307

Small Claims. 313

ID-Verification Systems. 325

Instant Bank Verification. 327

Selling Your Debt. 329

How to Calculate the True Annual Percentage Rate on a Consumer loan?. 330

The APR Formula. 331

APR for Deferred Presentment Loans. 332

Default Rates. 333

Compliance Issues. 335

Arbitration Clauses. 346

Licensing & Legislation. 350

Current Licensing Models. 352

•      Choice-of-Law Model: 352

•      State-by-State Licensing Model: 352

•      Offshore Model: 352

•      Sovereign Nation: 352

•      Credit Services Organization (CSO) Model: 352

•      Bank Model: 352

•      Creative Models: 352

Scenario 1. 353

Scenario 2. 353

Scenario 3. 353

Scenario 4. 355

Scenario 5. 355

Final Thoughts. 355

Consumer Loan Demographics. 357

Marketing/Branding/Advertising. 359

Craigs List. 365

Tactics & Strategies. 370

Tactics: Niches. 370

Tactics: How to Make Money & Not Fund Consumer Loans. 370

Tactics: Contact Info on Your Web Site. 371

Tactics: Choosing a Name for Your Company. 371

Tactics: Contract Language & Arbitration. 372

Tactics: Additional Web Site Resources. 372

Tactics: Stress the Benefits. 372

Tactics: Make it Easy. 372

Tactics: Repayment Options. 372

Tactics: Gathering Intelligence on your Market. 373

Your Competition: Tactics. 374

Site Selection. 376

Zoning. 376

Criteria for a Consumer Loan Store. 377

Motion Loft: A Tool for Site Selection. 378

Zoning. 380

Leasing Checklist. 381

Site Location Criteria. 383

Site Criteria Table Checklist. 384

Top 10 Do’s. 385

Top 10 Don’ts. 385

Consumer Lending & the Internet. 389

Licensing. 389

Internet Lending Topics. 390

Internet Default Rates. 390

Internet Volume & Capital Requirements. 390

Web Site Marketing. 391

Obtaining your Client Documents. 391

Delivery of-the Funds to the Client. 391

Call Centers & Outsourcing. 392

Prepaid, Stored Value & Reloadable Cards. 394

What Are They?. 394

Consult legal Counsel and the Vendors. 396

Kiosks or Automated Financial Centers. 397

Consumer Loan Product Alternatives. 398

Sales-Leaseback. 399

Cash Back Ad Sales. 402

Catalog Sales. 402

Delivery Document Center. 403

Cash Rebates. 403

Additional Income Opportunities & Traffic Builders. 406

Obtaining Funds for Your Loan Business. 408

Lender Resources. 409

Lender Surety Bonds & Insurance. 411

List of State Regulatory Agencies. 413

Definitions. 419

CAC – Customer acquisition cost. All marketing and sales expenses, including POS, labor….. 419

Consumer Lenders. 419

APR. 419

Cash Advance Loan. 419

Cash Advance Industry. 419

Consumer. 419

Contract. 419

Credit. 420

CSR. 420

Deferred Deposit. 420

Extension. 420

Financial Accommodation. 420

Flip. 420

NSF. 420

Consumer loan. 420

Refinance. 421

Renewal 421

Rollover. 421

Short-Term Loans. 421

A Typical Guide to Buying a Franchise. 422

Industry Associations. 435

Legal Resources for Lenders, Check Cashing & Car Title Lending. 438

Business Plan Outline. 441

Excel Business Plan Spreadsheets. 441

Conservative 1st Year Projected Cash Flow: Single Payment Loans. 449

Typical Minimum Equipment List for a Single Payment Startup. 450

I. WHAT IS A BUSINESS PLAN.. 450

II. WHY WRITE A BUSINESS PLAN.. 450

III. KNOW YOUR BUSINESS. 451

IV. BUSINESS TRENDS TO CONSIDER. 451

V. BUDGETING – -HOW AND WHY. 452

VI. MANAGING YOUR BUSINESS PLAN.. 455

VII. SUMMARY. 456

VIII. OTHER CONSIDERATIONS. 456

PERSONAL TRAITS. 456

WHAT DO BANKERS LOOK FOR? 456

YOUR OWN PERSONAL DEVELOPMENT. 456

MARKETING THOUGHTS. 457

Sample Loan Forms. 461

Consumer Loan Document Checklist. 480

Final Thoughts on Launching & Operating a Successful Consumer Loan Business. 510

[Includes thorough coverage of both Internet and store-front consumer lending.] 

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