HOW TO START A MONEY BROKERAGE BUSINESS OF YOUR OWN

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By Adenuga Sunday Joseph

Earn $100,000 or more a year, collect large fees helping others, and borrow all the money you need ... Becoming a Money Broker is one of the easiest and most rewarding endeavours available.
Virtually anyone can become a Money Broker with the smallest investment. You can start this business on a part time basis, and earn large "Finders Fees", or open your own office and work full time with
absolutely unlimited income potential.

Until very recently, the "secrets of money brokering" were closely guarded and known only to a few select bankers, investment corporations, and business consultants.

No other business offers the potential income
figure for so little investment. As an example, starting with less than $100, some Money Brokers have made $100,000 in their first year of business! This is the ideal way for a man or woman to supplement his or her present income, or change professions after a period of time. It is an absolute "dream-come-true" for the semi-retired, or retired office worker.
There is hardly another business requiring less than $100 in start up costs that can put you into a six figure income bracket so quickly.

None of them give you the power, prestige, or status - the respectability in your community - equal to that of a Money Broker. To get started, you'll need stationery, envelopes, and business cards with your own
letterhead. Be sure to include your phone number.

Also,have copies made of your Fee Agreement. We have presented a typical Fee Agreement Form (which you may duplicate after eradicating the instruction we have given in the blanks). As we have stated, the investment in this business is small; when you have your stationery, envelopes, cards and the Fee Agreement forms in hand, you have spent part of it.

The other part will be discussed now, because you have to "find" both borrower and lender to really get underway. Once you have your "working paper", you will run some advertisements in your local paper under the headings "Money to Loan" or "Business Opportunities".


Typical ads might read:

MONEY AVAILABLE FOR BILL PAYMENTS, HOME
REPAIR, BUSINESS EXPANSION, ANY WORTHWHILE
PROJECT. CALL JOHN JOHNSON 12345. (This ad
would be used to "pull" borrowers).


BUSINESSMAN NEEDS CAPITAL FOR EXPANSION.
EXCELLENT COLLATERAL AND REFERENCES. CALL
JOHN JOHNSON AFTER 4pm 12345. (This one would
be to attract lenders).

In response to the calls or letters from prospective clients, you will have to be prepared (really be prepared by practising) with the proper answers and sales pitch - i.e. (to the prospective borrower): "Yes, this is John Johnson. Thank you for calling. First I'll explain how we operate.
I'm a money broker. I bring you, the borrower, and the lender, together. I have many different money sources available - banks, insurance companies, private investment groups of doctors, dentists,
lawyers, and other professional people.

My sources are in business to make money by lending out money. Let's see - I need to determine your needs and the purpose of the loan in order to properly prepare the necessary financial papers for formal
presentation to the best suited lenders. I may have to take your loan request to as many as ten different lending groups in
order to get the loan for you. Once I have an approval on your loan request, I'm paid anything between 2% to 10% of the total loan
figure - important for you to remember, though, is that I don't get paid unless I get the loan for you.

I do, however, charge a $100 (or $25 or $50) non refundable Application Fee to cover my expenses in preparing your request for loan papers and
presenting this portfolio to the lenders. In a nutshell, that's how these types of loans are negotiated. Now then, how much money will you need? (Note that five successful registrations per week could
bring in between $125 and $500 each week).

This is where you begin to acquire the
information you are going to need to proceed
- the amount of money needed
- purpose of the loan
- terms borrower wants for repayment
- and a profile of his background;
education, employment record, date of birth, marital status, general health, and number of dependants.

Next you type this information into a proper format, assemble it into a portfolio with a cover letter, and present to at least five different lenders for their consideration. When the loan is granted, you collect your
Broker's Fee - a pre-determined percentage of the total loan figure.

_____________________________________________

(TYPICAL FEE AGREEMENT FORM)


YOUR NAME...........................................................

ADDRESS....................................................................


AGREEMENT FOR FINANCIAL SERVICE


The Undersigned


(borrowers name)


hereby appoints


(your name)


as Agent, and authorises him to submit to lenders financial data and information supplied by the borrower, for the purpose of the lender of making a loan or investment direct to the undersigned.

The undersigned agrees to pay to

Your Name
----% of the amount of the loan or investment obtained.
The undersigned hereby pays to (your name)


a non-returnable fee of $ ...... for the time involved to appraise the feasibility of loan requested; this fee is separate from any other fees due if the loan is obtained.