Payday Loan, Title Loan, Installment Loan Franchise?

Frankly, we do not think a payday loan, car title loan, installment loan… a business to consumer loan business is so complicated that you need to pay $45K+ as a franchise fee, then pay 8% per month of your gross to a franchise company and then kick-in another 2% per month for advertising.

How to open a loan business

Better? Take all this cash and PUT IT ON THE STREET! You’ll earn 300% to 500% on it!

Your first steps:

1. Read our “How to Start a Consumer Loan Business” thoroughly one time.

2. Visit competitors – get a loan. (Use a “shill” if you must.) At a minimum, visit 2 storefronts (brick-n-mortar “B & M” and/or web sites. Make certain the web sites you apply for a loan are direct lenders. (More on this in the Manual).

3. At the stores, perform customer counts. (Refer to our discussion of Craigslist for more on this.) Talk to the employees, “How is business?” or “ Is this your place?” Yes! Congratulations, how is business? No? Why not…? Have you ever thought of going into the business yourself?”

4. Build a team consisting of a good CPA, legal counsel, a tax professional…

5. Decide what licensing model you’ll employ. Your state/province? Tribe? None?

6. Decide on an LLC, C-Corp, S-Corp, sole-proprietor. Consider your biz name. [Avoid using “payday loans” or “car title loans” in your company name/DBA.] File DBA. Secure a web site domain name (Use Always use a .com. Customers always type/remember .com!

7. Consider the use of a “Registered Agent.” Again, consider using for filings for your entity.

8. Develop your pro forma financials (Balance Sheet, cash flow, P&L’s… Start with our CD or the email links we send for the Adobe Acrobat downloaded version of our “Bible.” Refer to our “Excel Proforma.” {You receive the Adobe Acrobat downloaded version via the email sent to you within 24-48 hours of your order for our “Bible.”

9. Develop your “Entity” documents, elected officers, certificate of formation, whatever is appropriate for your business model.

10. Consumer loan contracts (Examples emailed to you).

11. Prepare any additional docs you’ll require such as ACH account creation, bank account setup, sub-prime consumer data scrubbing account setup such as Clarity, Microbilt, DataX, Teletrack, etc. (Examples emailed to you).

12. Loan management software: Software & Training – set up a minimum of 3 demos with the companies in this “Bible.” Perform these Online.

13. Fee Schedules – post online and/or in your store(s) (Examples in the “Bible.”

14. Privacy Policy – develop for web site and/or store(s).

15. Develop branding, marketing, and advertising programs and materials.

16. Website creation (re-read the “Bible” and utilize resources listed). A “responsive” mobile-friendly website is a must in today’s environment. Discuss this with your eventual software provider.

17. Operating procedures – develop via our “Bible” template in conjunction with training materials provided by your vendors (Software, ACH, scrubbers…)

18. Location – determine based on your situation, licensing model, store/Internet. (Refer to our “Bible” chapter discussion “Site Selection.”

19. Furniture, fixtures, equipment, PC’s, supplies…

20. Signs, Branding, Point-of-Sale materials (consider and refer to you’re email we sent to you for the link, resources…

21. Utilities, phones, internet, fax…

22. Security Systems (ADP has some interesting solutions)

23. Consider the use of debit, stored-value cards (Refer to our “Bible”) and

24. Insurance – consult with a professional. Bonds? See our recommendations.

25. Consider bill pay services, tax preparation… as a complementary service offering.

26. Google “Local Places Listings,” and Social Media such as Facebook, Linkedin, Twitter… this is a MUST DO!

27. Consider joining OLA, FISCA, CFSA and/or any local related association discussed in our “Bible.”

28. Re-read our “Bible” 🙂

The Course: “How To Start/Improve a Consumer Loan Business”

Our 500+ Page Manual: $237.00
Topics covered:
How to launch a consumer lending business
Installment Loans
Payday Loans
Small Dollar Loans
Car Title Loans
Personal Loans
Signature Loans
Non-Secured Personal Loans
StoreFront Lending
Internet lending
Smartphone lending
Licensing? State/Province
What loan management software to use?
Capital required?
Borrower Underwriting?
Store & Internet Lending tactics & strategies
Sample contracts, License apps…
Tribe model [“sovereign nation”]
Texas CSO/CAB model
$237.00 PDF Immediate Download
100% Refund Policy

If you’re worn out spending hour upon hour searching Google for consumer loan business strategies, know-how, software, licensing, consumer credit reporting, sample contracts, collection tactics, profitability, how much start-up capital you need, anticipated default metrics, and on and on and on… Our “Bible” delivers ALL THESE ANSWERS AND MORE!

How to loan money to consumers! Payday loans, car title loans, installment loans, line-of-credit loans… via the Internet and storefront models.

Answers to:
How profitable are they? How much do these businesses earn?
Do you need a license?
We update our “Bible” every 3 months.

Schedule a Call with Jer Ayles, our Founder.

Do you want to learn how to make money by lending money? You’re fed up spending hours and days with “google search” in an attempt to figure out if small-dollar lending, payday loans, car title lending, and installment loans are profitable?

Talk to an expert!

1] Request a Call; as little as $75.00 for a 15-minute call. Extend the call if you like.
2] Via, you will be pre-charged for the estimated length of the call, based on our rate of $300/hr.
3] Connect directly with our Founders on the day and at the time you select.
4] Ask ANY question regarding the small-dollar loan industry
4] At the appointed day/time, call the conference line we provide. After our call, the charge will be adjusted to reflect the actual length of our call.

Jer and the Team at Trihouse Consulting have taught thousands of entrepreneurs the correct way to identify, evaluate, negotiate, perform due diligence on, finance, turn-around, and operate payday loan, car title loan, and installment loan businesses; the business of making money by lending money. Some people think we’re nuts for doing this, but the truth is that we’re far from crazy. DOING & TEACHING opens doors for us that pales in comparison to any other channel.

How to Start a Texas CAB - CSO

Texas CAB/CSO Credit Services Organization Report: $195.00

An analysis of the CAB/Credit Services Organization Model as it applies to Texas. An alternative to the Payday Loan Model.

What is a Texas CAB/CSO Credit Services Organization?
In essence, a CSO or Credit Services Organization is defined by the Texas Credit Services Organization Act (Section 393 of the Texas Finance Code) as an entity or person that provides one of the following services:

  • Improving a consumer’s credit history or rating.
  • Obtaining an extension of consumer credit for the consumer.
  • Providing advice or assistance to a consumer regarding the previous two services.

How does the CSO Credit Services Organization work with payday loans?
The CSO Credit Services Organization operates as a broker, The Texas Credit Services Organization Act (CSOA) allows the payday loan lender to register as a CSO and act as a loan broker. Thus, the CSO can make loans via “3rd Party Lenders” that are UNREGISTERED and UNLICENSED. The CSO Credit Services Organization acts as a broker for the consumer in need of funds by issuing a “letter-of-credit” on behalf of the consumer to a “3rd Party Lender.” This 3rd Party Lender funds the “loan” brokered by the CSO.

How does the Texas CSO Credit Services Organization collect its 3 fees:
A referral fee for referring the consumer to the lender that actually funds the “loan.” This is not stipulated by any law but is currently $20 to $30 per $100.
An application fee for filling out the CSO documents; typically $10 per $100.
The interest on the “loan” paid to the 3rd Party Lender caps at 10%/year.

Delivered as a PDF immediately:$195.00

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