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Here Are Some Tips For Lending Money

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By : Uchenna Ani-Okoye    99 or more times read
Submitted 0000-00-00 00:00:00
Whenever you start getting response of your advertisement on money available, then it is the prime duty of your secretary to get the caller's name, business name, the telephone number, amount of money needed, type of business, and most suitable time for a consultation.

Most professional way of doing this is to use already printed telephone message pads. So you only need to gather information from all these incoming calls, make a glance on all these calls and start making your call-backs.

Your call in reply should sound somewhat like this: Hello is this John Jones? Hi I am Money Broker making calling you for business financing. I know that you're looking for about one lac dollar for setting up your own auto tune-up shop.

You affirmed that you are already pretty well planned with a business arrangement 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 stand for a number of large lending organizations for business financing, as well as a number of private investors who are looking for new thoughts and businesses to endow in. Their principal necessity, of course, is that they be certain of getting their money back, but additional that they will make money from such an investment".

"What is done by me is to prepare your loan or investment package so that it will be striking when it is presented to potential lenders. It is very significant that your proposal be complete and in the correct order. It is also of the greatest importance that it looks good, and sells the people it is taken to. The potential lender must feel convinced in granting you a loan or investing in your business. Once we've got your presentation together, I then take it to some of my lending or investment sources and work toward obtaining you the money you need".

"As I'm sure you're already alert, it's most imperative that your proposal be arranged properly, and presented to the people who are in a place to give you the money you're asking for. I work with you to see that your proposal is the best my people have ever seen, and then I take it to the people who have the money and are looking for a good investment. For this, I need a hundred dollar broker's retainer fee. I then go to work on your particular money needs. What we need to do now is set up a time and date for me to meet with you so that I may analyze your proposal. Would tomorrow morning at 10:00 be all right with you, or would 11:00 be better?"

The essential thing is to be in control of this telephone conversation; to tell the viewpoint only what you want him to think about; and to sell him on the thought of getting on with it by paying the broker's retainer fee of $100. Only after you have collected that, of course, will you start to work on evaluating his plan and getting him the money he needs.

You will need to have a broker's agreement printed and ready for him to sign as he pays the retainer fee, whenever you go to see your prospect. An example of the agreement is shown:

You can use the following agreement sample without any hesitation, you can even cut it and paste it out and get a print out for you. Rather you can also place you name, address and telephone number in the space 'Your name and Address' if you are not using the option of cut and paste. Also, be certain to block out the instructions on the signature lines.

Your name and address

Agreement for financial service

The undersigned, (Borrower's Name), hereby assign, (Your Name) , as his broker and authorize him to present to lenders financial data and information complete by the borrower, for the use of the lender of investing or a loan direct to the undersigned. The undersigned agrees to pay to (Your Name) a fee of (the percentage) % of the sum of loan or investment acquired. The undersigned hereby pays to (Your Name) as a non-refundable fee for the time implicated considering the possibility of loan asked for; this fee is different from every other fees due, if loan is acquired.

Date: _________________ Borrower: ________________________________________

Your daily income will be derived from the packaging of loan applications, once you start of and progressing. Once your client has signed the broker's agreement and given you his check for the retainer fee, you'll be helping him to get his loan or investment proposal jointly. This is the first thing to do, and you have to do this despite of any forms your client has already filled out, or anything he may have done relative to a loan proposal.

The first thing you need to do is give your client a thorough list he will need to have within his loan or investment package. Because necessities do vary from time to time, you will want to give your client the latest requirements in this regard.

Visit several banks in your area and ask their loan officers for a duplicate of their loan application forms. Use these forms as your guide in making up the detailed list of requirements you will use in working with your client. If you need additional help, write one of the several organizations listed at the end of this report.

When you are done with the package and presentation to a lender, take it back to your client and give him useful suggestion for presentation, and also give him the names and addresses of individuals likely to listen to the presentation. He makes the presentation to the local projection, and contacts your other possible sources by mail. If he needs additional help from you, you would charge him a per-hour counseling fee, plus consulting charge for any special or extra time spent working with him.

In general, you should position yourself and your service to the patron in order to gather a "finder's fee" of half percentage to ten percentage of the amount of money in reality loaned to or invested in his business. A flat fee of dollar hundred to dollar 250 as a broker's retainer fee for serving him with his loan presentation when he does most of the work , an absolute fee of 1% for the total preparation of his presentation package , and a consultant's fee of $50 to $100 per hour for any extra time spent on the project.

These are your bread butter services that will establish you as a professional, and keep you in business until you score with a big commission from possibly a million dollar loan. You have to engage yourself in these services, because they'll make the difference between your going broke and really succeeding in the money brokering industry.
Author Resource:- Uchenna Ani-Okoye is an internet marketing advisor

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