How To Use Your Assets Or Those Of A Third Party To Get The Personal Loans You Need!

And, Here Are The Six Additional Sources For Collateralized Loans…

Life Insurance Companies – accept as collateral the cash-value – the sum of the paid in premiums, plus interest, less certain deductions.

Brokerage Houses – Some brokers will give cash loans of up to 50 percent of the value of the securities they handle for you. One advantage of dealing with a broker rather than a bank is that the broker grants the loan solely on the basis of collateral. A banker will check your credit rating as well.

Pawnbrokers – Most medium-size or large cities have at least one pawnshop – that often overlooked but enduring institution that makes personal loans on the security of personal property in their keeping. The pawnshop was – as it still is to hundreds of thousands of people in this country – the “poor person’s bank.” In Mexico it actually has official status as such. The government-controlled pawnshop, Monte de Pieadd, lends money each year to 5 million or more people at a little high interest rates..

Finance Companies, Second-Mortgage Companies, And Individuals Who Specialize In Home-Equity Loans – When you borrow from these sources, the equity in your home, condominium, or cooperative serves as collateral.

Small-Loan Companies – Small-loan companies will accept your color TV, refrigerator, stereo, furniture, and other household goods as collateral for a loan. The loan is secured by what is called a chattel mortgage, which permits the borrower to retain possession of the goods but gives the lender the right to seize them in case of default.

Private Lenders – Loans for a variety of reasons, both personal and business, are made by private parties. Brokers often act as the go-between, and many individuals advertise money to loan in the classified section of major national and international financial publications under the heading “Business Connections.” Or “Money to Loan.” Private lenders who make these collateralized loans do so primarily because they see them as good investments.

Co-Signing – Co-signing may not be classified as collateral per se, but it’s where you find third party investors and individuals willing to co-sign for your personal loan and put their good name, assets and credit behind you. There are a select group of investors and individuals who will co-sign for you for a fee. You may read the other article on co-signing here. (link).

One of the ways to find potential investors is to advertise in various publications. Try some of your local publications. Over the years we’ve found three national publications that have proven effective and responsive for these kinds of advertisements, because they are read by individuals, investors and entrepreneurs who understand. Two of these publications allow you to advertise for free, and the third charges a small fee for their ads.

If you’re already a member and want us to share these resources with you and in particular how to construct effective ads, simply call us. We’ll be delighted to help out.

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Diversified Funding International
The COMMERCE BANK Building
P.O. Box 402, Worcester, Mass 01613
508-753-1769
Fax 508-340-4977

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