Every installment loan, payday loan, car title title loan lender… all consumer lending business owners need information about their competition. As lenders in “the business of lending money to the masses,” I must know what my competition is doing!
I gotta know what’s working for other payday loan, title loan and installment lenders in my area and beyond!
Enable your competition’s employees to spill their guts!
How to “get the dirt” on your competition.
Try Craigslist.com. Run an ad.
Or, as I illustrate below, use Indeed.com to find experienced consumer loan customer service agents and management professionals having SERIOUS EXPERIENCE in the business of lending money.
Input “payday loans” or “car title loans” or consumer loans” or installment loans” or… into the “WHAT “ field. For “WHERE” input your location. [Recall from our “Bible” that you do NOT need a local employee for many of the employee positions needed in your consumer loan business. A remote employee living in a low cost city such as Albuquerque could certainly make collection calls or underwriting calls all day long for your consumer lending business. They could perform all your social media tasks just as well. Why pay a Houston or Los Angeles based employee to knock out your Facebook, Blog Posts, Twitter, Instagram… social media chores? No need!] Here’s a sample of my results for experienced consumer loan pros in my area of Newport Beach, Calif. Couldn’t I just as well plug in Tupelo, Mississippi, one of the cheapest US cities to live in?
Consumer Loan Business Employee Search
How to Start a Consumer Loan Business
Here’s a free template you may use to start:
CONSUMER LOAN REPRESENTATIVE & AREA MANAGER
YOUR COMPANY NAME Loans is a short-term consumer finance company specializing in car title, payday loans and installment loans.
We are currently seeking a Loan Representative & an Area Manager to join our growing company and work in our YOUR CITY office.
We are actively recruiting candidates that are looking for a career opportunity with our company. We value the relationships we have cultivated in the communities we serve and expect our employees to be an example of honesty and respect when dealing with them.
YOUR COMPANY NAME Loans has a special approach to business and we only desire experienced candidates that can step up and work towards the exceptional customer service and image we represent.
Consumer Lending Daily Responsibilities to include:
• Providing customer service in person as well as over the phone.
• Processing loans and payments.
• Outbound collection calls.
• Managing defaulted accounts.
• Daily reporting.
• Daily deposits (no cash handling required).
• Handling heavy phone volume.
• General office duties.
To be considered eligible for our Loan Representative or Area Manager positions, you must meet the following requirements:
• 12+ months experience with a PDL/title lender (We guarantee we’ll be discreet).
• Excellent customer service skills.
• Computer proficient with full understanding of basic operating systems.
• Basic math skills.
• Excellent communication and organizational skills.
• Ability to multi-task and work in a fast-paced environment.
• Ability to handle heavy phone volume.
• Ability to advance and make serious $$.
Your competition has experienced employees who are often looking for a better situation. Often, your competitors employees are unhappy. Why? Could be they have a crappy boss, maybe the commute is too long, often there is little opportunity for advancement, not enough money… any number of reasons.
So, by reaching out in creative ways to your competition’s employees, you can open a dialog with highly experienced, qualified personnel who are able to provide you with a much different perspective on your business and more than a few tactics that will increase your funded loans, improve collections, decrease first-time defaults…
And, when I’m lucky enough to get a superior candidate, I often hire, collaborate or at least pay them a couple of hundred bucks for their time. It just feels right.
Thinking of starting a consumer loan business but you’re not sure of where to begin?
Click This Image for Some Light Reading 🙂 Over Your Weekend!
Trihouse Consulting Services
How to Start a Consumer Loan Business
|Course 1: How To Start a Consumer Loan Business
Our 500+ Page Manual
How to launch a consumer lending business
Small Dollar Loans
Car Title Loans
Non-Secured Personal Loans
Store Front Lending
What loan management software to use?
Store & Internet Lending tactics & strategies
Sample contracts, License apps...
Texas & Ohio CSO/CAB model
$337.00 PDF Immediate Download
100% Refund Policy
Click Here: $337.00 Immediate PDF Download
Click this link Course #1 for a complete Table of Contents.
|Powerhouse PDL Biz Operator's Manual
Course 2: For Experienced Payday Loan Operator's Only
The REAL DEAL for Existing PDL Lenders
For EXPERIENCED PDL Owners ONLY!
Strategies to improve your storefront PDL business.
Tactics to ramp up your portfolio.
Ideas to reduce defaults
Blunders we made so you can avoid them 🙂
Online lender's tricks to benefit your operation
This information is the real deal with nothing held back. Marketing, underwriting, collections, employee relations, THEFT prevention, bad debt… It’s all in my Course. I’m blunt! I’m straight! I share all my blunders and my successes! And sometimes it’s not pretty!
My Powerhouse Course offer killer strategies for payday owners to grow their business through MEASURED marketing. You will learn how the “tricks” the Online lenders use can benefit you.
You’ll discover how to attract more of your ideal customers and clients, get them to come back more often, have them spending more on each visit and send you more referrals than you ever thought possible. AND, I’m going to teach you…
*100% Money Back Guarantee
|Powerhouse Car Title Loan Course|
|Powerhouse Car Title Loan Business - Advanced
Course 4: Start a Car Title Loan Business for EXPERIENCED title loan lenders.
Even if you’re NOT in car title lending today, this is great information.
We’re super excited about this Car Title Lending Course because this type of lending is the biggest and most important thing going on in the sub-prime market.
If you want to start in Auto Title, Car Title, Title Pawn... whatever you want to call it, or if you simply want to do it better, INVEST in our Powerhouse Car Title Loan Course #4.
The full course is over 400 pages and it’s $395.00 as a PDF [immediate download in Adobe Acrobat] or $495.00 printed and shipped to your door.
Click this Link for Table of Contents
Four things about our Car Title Loan Course #4:
You’re going to get all the information you need to start and profit loaning money on car titles. Yes, you can download the entire 400+ pages NOW! And this is real content! This is not 400 pages of sales pitch. We’re not going to pull a “time-share bait and switch” with you. This is real information to use to put money in your pocket immediately.
Value. There’s GOLD in this Car Title Loan Course. The chapter on employee management, supervision and training can make you hundreds of thousands of dollars. The chapter on testimonials will transform your company image, reputation and marketing. Is the course worth $395.00? Nope. It’s worth a hundred times that.
Guarantee! If you invest in this course... If you review the information... If you think it’s all stupid and you don’t get any value from it... Then we will refund your investment. No questions asked!
Check out my videos. Especially the longer one about unconventional marketing. This 15 minute video demonstrates how you can step outside the “normal” ways of getting great quality customers.
WE build teams of happy collaborators. People who invest in our courses participate in Master Mind groups. We have conference calls. Boot camps. We help operators connect with capital. We’re here to share ideas, and strategies with positive, forward thinking people.
Name of Course: Powerhouse Car Title Loan Course #4.
Target Audience: New and existing storefront and online car title loan providers.
Course Objective: To share proven strategies in dealing with obstacles and opportunities in the car title loan market.
Course Relevance: Secured lending via collateralized car titles is a solid strategy make money lending to the masses or to diversify a payday loan portfolio.
$197.00 How to Operate a Texas CAB?CSO Loan Biz
|CSO Credit Services Organization Report (Texas)
An analysis of the Credit Services Organization Model as it applies to Texas. An alternative to the Payday Loan Model.
What is a Texas 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;" Texas state law caps this at 10%/year.
Our 100+ page "Texas/Ohio Credit Services Organization [CSO] Report" includes a thorough description of how this model works, how to construct the loan entity & the CSO, sample agreements between the CSO and the 3rd Party Lender, sample consumer contracts & more.
| ||Payday Loan, Title Loan, Boot Camp, Installment... Boot Camp -LIVE
Boot camps are run in our Texas “live” Loan Center
We offer small dollar loan loan training
You and one employee/partner may attend
Our Payday Loan Manual, our Car Title Loan Manual and our Gold Manual are included
These are “one-on-one” intensive workshops customized for your situation and challenges
We cover both the store model and the Internet Model
The fee is $3550 total per company (Including our Manuals) If you already invested in one or more of our Manuals, you may deduct $500.00.
We schedule our Boot Camps in our Texas location to accommodate your Team
2-Days in a "live" Loan Center in Austin, Texas. Includes our Payday Loan, Car Title Loan and Scrap Gold Manuals in Adobe Acrobat emailed.
||Schedule a Call with our Founders.
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 $49.00 for a 15 minute call. Extend the call if you like.
2] Via Clarity.fm, you will be pre-charged for the estimated length of the call, based on our rate of $200/hr.
3] Connect directly with our Founders on the day and at 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, Miro 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.
Consumer Loan Business/Payday Loan ProForma Excel Spreadsheet
|Consumer Lending > Biz Plan Excel Spreadsheet Pro Forma
Internet/Storefront Lender Excel Pro Forma
Every startup entering the consumer lending/payday loan industry needs our new "PDL Excel Spreadsheet Pro Forma." We had our analytics gurus build this tool. With it, you have the ability to "play" with multiple inputs including lead costs, default rates, loan conversion rates, number of loans funded daily/monthly, average loan principal amount, fee charge per loan principal, rollovers, employee costs, overhead expenses...
We provide a solid foundation with which you can start. Then, you change the variables based on your "secret sauce." We guarantee our "Consumer/Payday Loan Pro Forma Excel Spreadsheet" will blow you away with its power to enable your Team to "see into the future."
There is nothing like this tool on the market today. We've invested our 20+ years of payday loan knowledge and experience as a Lender in this tool. You simply cannot get access to anything like this tool unless you bring serious consumer/payday loan experience and Excel experts to your "game." For both storefront and Internet consumer facing lenders.
HOW TO VALUE A CONSUMER LOAN/PAYDAY LOAN BUSINESS
|A Guide to Consumer Loan Company Valuations
Valuation Approaches and Considerations for Buyers, Sellers and Startups of Check Cashing, Payday, Title, & Consumer Loan Companies. Thoroughly covers payday lending, car title lending installment loans... consumer loan business valuations. Delivered immediately to your Inbox.
|How to Get Your Money
What can be worse than not getting paid? Getting sued, or FINED by Government agencies.
There are regulations at the Federal and State level that are created to protect the public from unsavory collections practices. As you work to collect your money, keep in mind that the courts have a mandate to take the side of your non-paying client. Even if this person has cursed you up and down, written you bad checks and lied to you every day for 10 years?
None of that matters. The courts and the law are created to protect the public. Not you or your business. If you go into a collections procedure with an attitude, and crappy documentation, you’re going to get run over by the system and it’s not going to cost your deadbeat customer a cent.
How to Launch a Tribal Lending Enterprise
Tribe Sovereign Nation Documentation, Term Sheets & More
A complete package of all the legal documentation required by tribes, lawyers, investors, marketer/servicer groups... to successfully launch a TLE.
Note: All Word Templates are editable for your private use.
- Template-Standard Tribe Resolution Creating a Tribally Owned Business
- A RESOLUTION OF THE GENERAL COUNCIL OF THE (name of tribe) CREATING AND ESTABLISHING THE TRIBALLY-OWNED BUSINESS (NAME) PURSUANT TO (vesting power in General Council resolution) [Word Doc.]
- 3 year Pay Day Lender Loan Volume Projections
- (PDF Doc.)
- “THE RISKS AND BENEFITS OF TRIBAL PAYDAY LENDING TO TRIBAL SOVEREIGN IMMUNITY”
INTRODUCTION: [25 page PDF by Bree R. Black Horse J.D. candidate at Seattle University School of Law, and an enrolled member of the Seminole Nation of Oklahoma in cooperation with The American Indian Law Journal. Public Domain]
- Two Key Tribal Court Cases:
- While there have been many, many cases upholding tribal sovereign immunity over the years, two in particular are specific to tribally owned payday loan businesses. [4 page PDF]
- 3 Year Proforma.
- A 3 year tribe pro forma portfolio [Excel format]
- Boilerplate Marketing & Servicing Agreement
- Template for TLA & Marketer/Servicer arrangement with Revenue Share Exhibit A. [12 page Word Doc.]
- Consulting Agreement
- Template Consulting Agreement with Tribe Lending Enterprise [Word Doc]
- RESOLUTION OF THE GENERAL COUNCIL OF THE (name of tribe) VESTING ECONOMIC & COMERCIAL DEVELOPMENT IN THE GENERAL COUNCIL [Word Doc]
- Car Title Boilerplate Agreement
- Example Marketing/Servicing Agreement with TLE [11 page PDF]
- Car Title Consulting Agreement
- Typical Consultant/TLE agreement specific to car title loan lending [6 page PDF]
- Typical Lenders Introduction and Compensation Agreement
- Example Tribe/Consultant introduction & revenue share term sheet [5 page PDF]
- Example Monthly Payments-Revenue Share Agreement
- Typical consultant – TLE revenue share statement [1 page PDF]
- Example of Typical Non-Recourse Promissory Note & Security Agreement
- Ordinary Borrower/Lender capital security agreement [4 page PDF]
- Lawyers' View: Minimizing Regulatory Enforcement Actions Against TLE and Service Providers
- Important Factors in a Tribal Lending Relationship [3 page Word Doc]
- Frequently Asked Questions Regarding the Mechanics of TLE-TOB/Marketer-Servicer Collaborations
- Allen Parker responses to FAQ’s submitted by potential consultants, tribes, and providers of capital. [2 page Word Doc]
- Typical TOB Lenders’ License
- [19 page Word Doc] A financial services license authorizing the TOB to do business “THIS IS TO CERTIFY that, consistent with Section 4 of the Mahalo District of the North Dakota Tribe Tribal Financial Services Regulatory Act, the enterprise under the jurisdiction of the Mahalo District of the North Dakota Tribe has been licensed by the Mahalo District of the North Dakota Tribe’s Tribal Financial Services Regulatory Commission to provide financial services in furtherance of the Tribe's economic self-sufficiency and political self-determination. It is…”
- Example Consultant- Lender Representation Agreement Boilerplate
- As titled, an example Consultant retainer/representation agreement [2 page Word Doc]
- Example Consultant- Lender Representation Agreement Boilerplate
- As titled, a template for consultant –services/marketer agreement [1 page PDF]
- Example Declaration of Servicer-Marketer Skill Set Submitted to Tribe
- As titled, a sample declaration to tribe regarding servicer/marketer skill set [1 page PDF]
- Template for Statement of Consultant-Servicer-Marketer Power Point Presentation to Interested Parties
- Editable Power Point presentation [12 page PP]
- Typical Tribe/Servicer/Marketer Credit Reporting Business Rules
- As titled, a phenomenal Excel list of go/no-go CRA implemented business rules [Excel 10 pages]
- Template for “Finders’ Fee”
- As titled, editable Finders’ Fee for use by Consultants [2 page Word Doc]
- Template for “Finders’ Fee”
- As titled. A second version of a Finders’ Fee
- Example Business Development Agreement
- As titled, editable template for business development agreement between TLE & Consultant [5 page Word Doc]
- Term Sheet
- As titled. [4 page Word Doc]
- TLE-Lender-Services/marketer Bank & Loan Flow Chart
- As titled, an visual of “how the money flows.” [1 page PDF]
- “Tips for Tribe Economic Directors”
- As titled, a public domain analysis for tribal economic development principles. [9 page PDF]
- Limited Solicitation RFP
- A typical Request for proposal submitted by TLE’s [2 page Word Doc]
- PDL Sovereign Nation Manual by Allen Parker
- An analysis of the TLE Model [8 page PDF]
- Your investment: $1995.00