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, and 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 that 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 to $2500+ quickly and without a 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? Start a Google search 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 1998. 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.”
[I know what you’re thinking! If we are so good, why don’t we simply focus on lending to the masses ourselves? Here’s why:
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 over 20+ years of experience running businesses focused on car title, installment, payday loan, check cashing stores, and Internet portfolios. Our “The Business of Lending Money to the Masses Course” today, require a few days to study it, then pick up the phone and call 702-208-6736 or email TrihouseConsulting@gmail.com with any questions.
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.
Your First Steps: Page 17
Macro View of the Consumer Loan Industry. Page 19
State of the Consumer Lending Industry. Page 23
Hang-In There! The Future is Ours! Page 30
Flash – It’s a Whole New Business. Page 33
The Future of the Consumer Loan Industry. Page 47
Executive Summary. Page 56
Consumer Loans Defined. Page 58
The Demand Side. Page 59
Customer Profile. Page 62
The Numbers. Page 64
Regulatory Environment. Page 68
Legislative Survey. Page 70
Trends in Financing & Valuations. Page 70
The Future of Lending. Page 72
The Loan Process: an Overview. Page 74
Step-by-Step Procedures. Page 75
Consumer Loan Procedures Step-By-Step Overview. Page 75
Telephone Qualifications: Your Most Important Skill. Page 79
In Your Office, Step 2. Page 84
How to Calculate the APR Formula. Page 85
General Tactics. Page 90
Exhibits. Page 94
Loan Extension Procedures. Page 102
Typical Installment Loan Breakout. Page 105
Title Loans: Overview of the Product & Industry. Page 106
How Big Is the Title Loan Market? Page 107
How Title Lending Works. Page 108
Who Uses Auto-Title Loans. Page 110
Title Loan Profits. Page 112
Regarding Title Loan Legislation. Page 116
Laws & Regulations. Page 117
Title Loans: Documents You Need. Page 120
Recording the Title. Page 123
Title Loan Add-On Fees. Page 126
Title Loans: Repossession. Page 126
Title Loan Repossession Checklist. Page 129
Repossession: The Consumer’s Point of View. Page 134
Defaults and Repossessions in Motor Vehicle Transactions. Page 147
Title Loan GPS, Starter Interrupt Devices – Payment Assurance Devices. Page 151
How to Value Your Loan Collateral. Page 161
Title Loan Lender Philosophies. Page 166
Title Loan Lenders Serving Active-Duty Service Members NO-NO! Page 166
Title Loan Resources. Page 169
Detecting Title Fraud. Page 170
Title Loan Forms. Page 173
Man loading & Personnel Page 178
Consumers typically apply for consumer loans as follows: Page 178
Profits: How Much Can You Make? Page 180
Sub-Prime Consumer Reporting, ID Validation & Credit Bureaus. Page 185
Software for the Business of Lending Money. Page 200
Features & Issues to Consider: Page 203
Consumer loan Software Vendors. Page 206
Electronic Funds Transfer (ACH & EFT). Page 211
Internet Lending: How to & Strategies. Page 228
How Internet Lending Works. Page 229
Your First Steps to Reverse Engineer an Internet Lender’s Loan Process. Page 230
Web Site Development. Page 233
Choosing a Domain Name. Page 233
Web Site Hosting. Page 234
Web Site Development. Page 235
In-House Development. Page 235
Out Sourcing. Page 237
Turnkey Websites. Page 239
Search Engine Positioning. Page 241
Keywords and Key Phrases. Page 246
Final Note on Google’s PPC Policy. Page 247
More on Pay-per-Click Search Engines. Page 251
Definitions. Page 252
Marketing Other Than Search Engines. Page 254
Affiliate Programs. Page 254
CFSI Small Dollar Loan Data. Page 257
Purchasing Loan Leads & Applications. Page 270
Buying Consumer Loan Leads. Page 270
Percentage of Applications Funded. Page 272
Fees to Charge. Page 272
Email Strategies. Page 274
Mobile-Friendly Web Sites. Page 277
Faxing of Loan Documents. Page 281
Collections. Page 283
Debt Collector’s Phone Communication Required Statements. Page 291
List of Techniques & Procedures for Your Collection Campaign: In-House Approach. Page 292
Collection Record Keeping and Data Entry. Page 292
Typical Collection Letter Template. Page 300
Taking the Risk Out of Consumer Advances. Page 301
Collections: Final Thoughts. Page 301
Extended Payment Plans. Page 302
Consumer Perspective on Collectors. Page 304
Collections. Page 306
Collection Letters & Practices. 307
Avoiding the Pitfalls of Debt Collection. Page 307
Small Claims. Page 313
ID-Verification Systems. Page 325
Instant Bank Verification. Page 327
Selling Your Debt. Page 329
How to Calculate the True Annual Percentage Rate on a Consumer Loan? Page 330
The APR Formula. Page 331
APR for Deferred Presentment Loans. Page 332
Default Rates. Page 333
Compliance Issues. Page 335
Arbitration Clauses. Page 346
Licensing & Legislation. Page 350
Current Licensing Models. Page 352
• Choice-of-Law Model: Page 352
• State-by-State Licensing Model: Page 352
• Offshore Model: Page 352
• Sovereign Nation: Page 352
• Credit Services Organization (CSO) Model: Page 352
• Bank Model: Page 352
• Creative Models: Page 352
Scenario 1. Page 353
Scenario 2. Page 353
Scenario 3. Page 353
Scenario 4. Page 355
Scenario 5. Page 355
Final Thoughts. Page 355
Consumer Loan Demographics. Page 357
Marketing/Branding/Advertising. Page 359
Craigs List. Page 365
Tactics & Strategies. Page 370
Tactics: Niches. Page 370
Tactics: How to Make Money & Not Fund Consumer Loans. Page 370
Tactics: Contact Info on Your Web Site. Page 371
Tactics: Choosing a Name for Your Company. Page 371
Tactics: Contract Language & Arbitration. Page 372
Tactics: Additional Web Site Resources. Page 372
Tactics: Stress the Benefits. Page 372
Tactics: Make it Easy. Page 372
Tactics: Repayment Options. Page 372
Tactics: Gathering Intelligence on your Market. Page 373
Your Competition: Tactics. Page 374
Site Selection. Page 376
Zoning. Page 376
Criteria for a Consumer Loan Store. Page 377
Motion Loft: A Tool for Site Selection. Page 378
Zoning. Page 380
Leasing Checklist. Page 381
Site Location Criteria. Page 383
Site Criteria Table Checklist. Page 384
Top 10 Do’s. Page 385
Top 10 Don’ts. Page 385
Consumer Lending & the Internet. Page 389
Licensing. Page 389
Internet Lending Topics. Page 390
Internet Default Rates. Page 390
Internet Volume & Capital Requirements. Page 390
Web Site Marketing. Page 391
Obtaining your Client Documents. Page 391
Delivery of the Funds to the Client. Page 391
Call Centers & Outsourcing. Page 392
Prepaid, Stored Value & Reloadable Cards. Page 394
What Are They? Page 394
Consult legal Counsel and the Vendors. Page 396
Kiosks or Automated Financial Centers. Page 397
Consumer Loan Product Alternatives. Page 398
Sales-Leaseback. Page 399
Cash Back Ad Sales. Page 402
Catalog Sales. Page 402
Delivery Document Center. Page 403
Cash Rebates. Page 403
Additional Income Opportunities & Traffic Builders. Page 406
Obtaining Funds for Your Loan Business. Page 408
Lender Resources. Page 409
Lender Surety Bonds & Insurance. Page 411
List of State Regulatory Agencies. Page 413
Definitions. Page 419
Customer acquisition Cost. Page 419
Consumer Lenders. Page 419
APR. Page 419
Cash Advance Loan. Page 419
Cash Advance Industry. Page 419
Consumer. Page 419
Contract. Page 419
Credit. Page 420
Customer Service Reps. Page 420
Deferred Deposit. Page 420
Extension. Page 420
Financial Accommodation. Page 420
Flip. Page 420
NSF. Page 420
Consumer loan. Page 420
Refinance. Page 421
Renewals. Page 421
Rollovers. Page 421
Short-Term Loans. Page 421
Typical Guide to Buying a Franchise. Page 422
Industry Associations. Page 435
Legal Resources for Lenders, Check Cashing & Car Title Lending. Page 438
Business Plan Outline. Page 441
Excel Business Plan Spreadsheets. Page 441
Conservative 1st Year Projected Cash Flow: Single Payment Loans. Page 449
Typical Minimum Equipment List for a Single Payment Startup. Page 450
I. WHAT IS A BUSINESS PLAN. Page 450
II. WHY WRITE A BUSINESS PLAN. Page . 450
III. KNOW YOUR BUSINESS. Page 451
IV. BUSINESS TRENDS TO CONSIDER. Page 451
V. BUDGETING – HOW AND WHY. Page 452
VI. MANAGING YOUR BUSINESS PLAN. Page 455
VII. SUMMARY. Page 456
VIII. OTHER CONSIDERATIONS. Page 456
PERSONAL TRAITS. Page 456
WHAT DO BANKERS LOOK FOR? Page 456
YOUR OWN PERSONAL DEVELOPMENT. Page 456
MARKETING THOUGHTS. Page 457
Sample Loan Forms. Page 461
Consumer Loan Document Checklist. Page 480
Final Thoughts on Launching & Operating a Successful Consumer Loan Business. Page 510
With so much information out there on starting a consumer loan business, it can be overwhelming to decide where to start.
Our course, How to Start a Car Title Loan Business, offers a comprehensive and practical approach to this complex industry.
Here’s why you should choose our course:
Developed by Industry Experts: The Trihouse Team has over 20 years of experience running successful consumer loan businesses.
Step-by-Step Guidance: Our course covers everything you need to know to start a successful consumer loan business, from obtaining licenses to marketing strategies.
Affordable: At only $150, our course is an affordable way to gain the knowledge and skills needed to succeed in this industry.
Accessible: Our course is available for immediate PDF download, so you can start learning right away.
Join the countless entrepreneurs who have successfully started their own consumer loan businesses with the help of our course.
Click below to grab your copy now.