We do not have a loan department or direct connections to any banks but our CPA webmaster recommends that you consider an online lending resource as an alternative to bank financing.   Lending club is a peer to peer lending resource and was recently featured in Forbes Magazine as a viable loan / investment vehicle.  Click on one of the links and check them out.

The average person can also invest in these loans and you might be surprised at the returns that are available.  Ron has been investing in these loans to get a higher interest rate on money.   He has taken some money out of Bank CD's and is getting returns over 11%.  

You can open an account for as little as $25.00

Ron now has invested in 363 loans with over $8,000 invested.  39 of the loans paid off early.   Since January of 2010 the account has paid over $745 in interest and continues to generate about $50 in interest and $300 in principal repayments every month .    3 of the loans he invested in were for people that were buying tractors.

This is also a perfect way to loan money to family because it creates accountability for the borrower and also creates a schedule for the repayment. 

Email him at ron@chatstractors if you have questions.

© 2001 Drummond Tax