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FORTYTHREE WAYS TO FIND A GOOD LENDER

Written by: Tyler Hicks

Article Overview: Article by real estate guru Tyler G. Hicks gives 43 ways to find a lender that is right for you.

FORTYTHREE WAYS TO FIND A GOOD LENDER

HAVE YOU EVER tried to list every place YOU might find a money lender? We have! See our list below.

Please note that some of the loans and lenders listed below will not be the right "fit" for every prospective borrower. Every loan has a different purpose and every loan seeker has different needs and objectives.

1. Find lenders' ads in your local and metropolitan newspapers under "Loans", "Mortgages," financing or funding. You're likely to find that some lenders place small classified ads and others place large display ads (ads with borders around them). Be sure to check the Sunday paper because it often has the largest number of ads of the week.

2. Look under "Funds/Funding Available" and "Money Available" in your IWS Newsletter

3. Look for "Money Available", "Financing Available" and other similar headings and categories. such as ads in industry magazines or other sources related to your subject. For example, if you need a loan to buy an airplane, look in aviation magazines such as "American Pilot" and in Internet news groups that discuss buying and selling small planes.

4. Search for "funding available," "financing," "lending," "loans" and related terms on the World Wide Web. Use Google or another good search engine. Generally, when you run these searches, it's best to limit your search to your city, state or region. For example, if you want to find lenders in Ohio, your search might look like: "real estate lenders Ohio" or "real estate lenders OH"

5. Contact local, state and national banks

6. Contact local, state and national finance companies

7. Contact local, state and national mortgage companies

8. Contact local and national credit unions

9. Contact local savings & loan associations (S&Ls)

10. Write or call local building & loan associations (B&Ls)

11. Run classified ads (free for IWS newsletter subscribers) in IWS for "Lenders Wanted"

12. Run classified ads in national papers and magazines seeking lenders

13. Co-broker with financial brokers having lenders

14. Contact local and national real estate brokers and real estate brokers' clubs

15. Work with franchisors who can supply lenders for buyers

16. Work with lease brokers who have contacts with lenders

17. Explore overseas funding through local branch lenders

18. Check Federal Government loans. There are many kinds available.

19. Contact your State and City Governments for loan sources. In most states, an agency called the Department of Financial Institutions (DFI) has tons of information on lenders registered in each state.

20. Use credit card loan sources

21. Get finders to locate suitable loans for you

22. Seek out private lenders amongst business associates

23. Work with big-ticket-item funders for boats, planes, etc.

24. Contact insurance companies for large loans

25. Work with surety bond firms, using lenders acceptable to them

26. Attend lender meetings to get an inside track on needs kinds of uses of loans.

27. Contact local professionals (doctors, dentists and others) seeking investments

28. Write or call attorneys and accountants to ask for references to lenders

29. Contact large firms making loans to suppliers

30. Ask stock brokers for clients who want to make loans

31. Get business associates to take out home equity loans

32. Ask your bank to recommend other lenders for you

33. Deal with specialty lenders-ship, truck, aircraft, etc.

34. Work with nonprofit lenders (see your "Yellow Pages")

35. Get loans from SBICs-Small Business Investment Companies

36. Contact local business development companies

37. Borrow on cash value of an insurance policy

38. Apply for large real estate loans to pension funds

39. Get accounts receivable financing from AR lenders

40. Borrow on commercial paper you issue

41. Use a banker's acceptance to get import/export loans

42. Get venture capital firms to lend your firm money

43. Get loans from tax-haven lenders-usually banks

THERE YOU HAVE 43 SOURCES OF LENDERS for business and real estate. If you can think of any others, be sure to tell us!

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  What Do You Need to Get a Small Business Loan?
  Why Does My Lender Need a Business Plan?
  How to get your Bank Manager to sanction your loan application

Article Tags: american pilot, aviation magazines, credit unions, estate lenders, finance companies, google, industry magazines, internet news, loan associations, metropolitan newspapers, money lender, national banks, national finance, national mortgage companies, news groups, newsletter subscribers, prospective borrower, savings loan, small planes, sunday paper



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