Follow our plan, and build a great business!
By law, we cannot promise you any level of personal or financial success. However, we can share our pricing policies and typical loan closings per Merchant/Dealer. They are as follows:
- When you enroll a new Merchant/Dealer, you will explain that we will charge a fee based on the following scale. Loan amounts up to $7499.99, our fee is $375. Loan amounts of $7500 to $14999.99, our fee is $575. Loan amounts of $15000 and up, our fee will be $775. The Dealers can either build that fee into their pricing, or they can require the buyer to pay the fee. If the buyer is paying the fee, they will add it to the loan amount, and the fee will be financed. Either way, when the loan is funded, our fee will be collected back from the Dealer.
- While some Merchant/Dealers will do 100 or more loans a year, others may only do one or two. With that noted, history has shown that you can conservatively estimate 30 loans on average per year from each Merchant/Dealer.
With these two statistical facts known, here are some basic projections. If you signed up 20 Merchants/Dealers and they each averaged 30 loans per year, you would close a total of 600 loans in a year. If the average fee per closing was $575... You could project your gross revenues for 12 months to be $345,000. Now imagine if you signed up 40 or 50 locations with the same projections.
Other Revenue Opportunities:
ADVERTISING FEES:
We train and encourage you to work with Merchants/Dealers advertising their products for sale at no upfront cost for them. When you run your ad's, you will really be promoting "100% Financing". If/when the product sells through our advertising, we will charge the Dealer a fee of 10% to 20% of the gross selling price. This can really add up fast.
BUSINESS LOANS:
In your day to day business, you will always run across Dealers and Merchants who could use some business capital. We have access to 76 business loan lenders who can fund dealers for business owners with all kinds of credit. The fee we typically charge on business loans is 3.5% of the credit line. You would earn 2 points on those business loan referrals.