The Bible
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, 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:
- We ARE lenders. We have equity in 15 locations in four states. We own and operate online loan platforms as well. And we partner with Native American Indian tribes.
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.
Immediate PDF delivery to your Inbox.
Click to grab your copy now
Why Choose Our Course?
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.
Why Choose Our Course?
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.
Table of Contents
- 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
- 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 455VII. 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
PDF Download Immediately
Thorough coverage of both Internet and store-front consumer lending.
Why Choose Our Course?
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.
Table of Contents
- 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
- 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 455VII. 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
PDF Download Immediately
Thorough coverage of both Internet and store-front consumer lending.
Why Choose Our Course?
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.
