A question that is often asked is, How much OPM can one get for one’s business venture?
“Are you talking about a few hundred dollars, or a few thousand?” you ask. “After all, the amount can make a big difference in my business deals.”
That’s a fair question, from an intelligent reader. It shows that you’re thinking.
Loan and equity sources can provide you with anywhere from $5,000 to $50-million. Most of these sources prefer deals of more than $5,000 because on anything less the interest earnings are too small.
Further, it costs just as much to process a $5,000 loan as a $50,000 loan!
And while some of the lenders will go over $50-million, the loans greater than $50-million are usually confined to governments of countries and similar large borrowers.
So if $5,000 to $50,000,000 will help you achieve your business goals, let’s swing, man or woman, swing!
Now, good friend, I want to give you a few tips on working with all lenders, be they:
- Banks
- Insurance companies
- Finance companies
- Venture-capital firms
- Private syndicates
- Stock underwriters making pre-offering loans
IWS-65 : How to Get Rich on Other People’s Money
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These key loan and equity success tips are
To get the best results from any lender, never, never:
- Never tell him or her you picked his or her name at random out of a list of lenders. (This offends him or her.)
- Never tell him or her you are “shopping” the loan application, that is, trying more than one lender. (This makes him or her suspicious.)
- Never tell him or her how poor you are even if you are. (He or she only looks down on you and is much less likely to approve your application.)
- Never be afraid of any lender. He or she can’t “eat” you, arrest you, fire you, kill you, or otherwise harm you. (The most that he or she can do is say no to your application.)
- Never become angry at a prospective lender. (Though he or she says no today, he or she may call you tomorrow to say yes.)
To get your money when you need it from lenders, always, always:
- Find out what kinds of loans a lender makes before you talk to him or her so you apply for the kind of loan he or she makes.
- Be friendly with the lender.
- Dress well when you appear for an interview.
- Type all applications and other documents.
- Speak only when spoken to.
- Be truthful and optimistic at all times.
- Be confident and assured.
- Seek grounds for agreement with the loan officer.
- Develop boldness and imagination
- Use good government publications
Follow these “secrets” and you will be sure to secure all the funding you need for your business.
Be sure to have a strong business plan and you’ll be well on your way to your fortune!