Friday, July 17, 2009

Find the Loan You Want At A Niche Lender

A NICHE LENDER IS A LENDER that specializes in loans to a narrow group of
businesses, or to just one type of business. Thus, a niche lender might focus on loans
to:


• Gas stations, auto repair shops, tire stores, etc
• Sports facilities—tennis courts, bowling alleys, swimming pools
• Health care facilities—nursing homes, rehab centers, hospitals
• Education centers—schools, colleges, universities, etc
• Multi-family real estate, apartment houses, condos, etc


TO FIND A NICHE LENDER you can take a few easy steps. These steps are
quick and direct, namely:


1. Define your niche. You must know your niche clearly so you can focus on
the lenders that make your type of loan. You have a number of typical niches
above. If you can’t figure your niche, call Ty Hicks and he’ll do it for you on
the phone

2. Look for lenders serving your niche. You’ll find them in many different sources,
such as: (a) Magazines and newspapers serving your niche business or real
estate; (b) On the Internet at sites that cover the news of your niche; (c) In IWS
lender books and in the IWS newsletter, or via a special search we do for you at
your request. Such a search will typically find from 3 to 12 lenders

3. Get your niche lender’s paperwork—its Loan Application, Loan Guidelines,
and any other documents they normally supply. This could include forms for
releasing info, checking income, etc. These will be sent to you free of charge

4. Fill out the Loan Application. Don’t be careless about your Loan Application
Make it neat and clean with no cross-outs or messy corrections. The best way to
achieve this is to type your application throughout. If you have to submit your
Loan Application via the Internet, do it yourself. Or have an Internet person do
it for you

5. Call, e-mail, or write the lender if you have any problems filling out the application
Ask “What do you want to see as an answer for Question 7?” for any
question that puzzles you

6. Send your Loan Application to the lender along with a letter explaining how
much you need for your business, for what purpose, and how you’ll repay the
loan. You’ll get your money!

7. Use this method and your Loan Application has almost a 100% chance of being
approved. Being organized will get you to your money sooner!

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