1. Find a Lender /Borrower
Private lending has experienced an explosion of growth due to many of today's economic factors.
Borrowers: Banks and commercial lending houses have tightened requirements and are declining normally acceptable risk loans. Borrowing money from someone you know makes a lot of sense!
Potential Lenders: These are people that have established themselves and are in a position to loan money. They also may find that the interest rates they are being offered by banks in the form of CD's and other investment vehicles too low. Usually this is someone you know and wants to see you succeed.
2. Agree on Loan Terms
Pick and agree on the loan terms you will use. Standard terms include:
• Loan amount
• Interest rate
• Term
• Repayment type
• Repayment frequency
Interest rates vary, so use our Resource Center to help you choose. You and your lender should discuss the alternatives that you each have and agree on the rate that provides a win-win situation for you both.
3. Create Formal Documents
Approach your lending relationship in a professional manner. Introduce a neutral "third party" that can help eliminate the emotions from the transaction.
You will need a promissory note to document the loan.
The Agreement Builder™ will guide you through the process of creating a professional Promissory Note. You input the amount of the loan, interest rate, repayment terms (months/years), due dates and any special conditions and The Agreement Builder™ creates a legally binding promissory note.
4. Set up a Repayment Plan
One2One's Agreement Builder™ generates a list of due dates and payment amounts ($) that make up your repayment schedule for your loan agreement.
The Borrower must remember to send a check in advance of each due date. There is usually no "payment book" or monthly invoice that is created by the Lender. You can also have an accountant or private lending company service your loan.
Remove the on-going, potentially emotional hassel: have One2One Lending send e-mail payment reminders to the Borrower on behalf of the Lender. Stick to your loan agreement!
Tuesday, November 9, 2010
Tuesday, October 12, 2010
How to get a friend or family member to pay you back
Many people have loaned money to friends or family members. Chances are, they haven’t paid you according to your understanding. If you are lucky, you used a company such as One2One Lending to help you get your agreement in writing in the form of a promissory note. If you have a family member or friend who won’t pay you back whether or not you have created a promissory note, here are some ideas for how to get your payments back on track.
Create an understanding of where your loan stands now. Show exactly how much the borrower can afford to pay. This will let the (you) know that they are realistic and want to make the payments and when you should to expect them.
Talk to them about your interest in accepting payments. Sit down with the friend or family member and put an agreement in writing that they will pay you back in a set number of payments at specified times. This way, you’re adding structure to the agreement, and you’ll at least be getting something back. You also will not feel that it is wrong to nagging them about payment deadlines that have been agreed upon.
Be Persistent. If you’re starting to think that they will never have the money to repay you, and then get something else out of it. Think of it as security for the loan – something of equal value. This is a great way to let them off the hook for the money, but still receive some value for your efforts.
Give the money to them by forgiving the loan. If never getting the money back isn’t going to ruin your relationship, then just gift the money to them. You’ll feel good about it, the thoughts will be out of your head, and you can move on. If you’re not in a financial situation to give the money away without the expectation of getting it back, then you probably should not have loaned the money to them in the first place.
Loans between family members can ultimately sour a relationship and many families don’t talk to each other because of loans gone bad. Make sure that if you are ever moving ahead to help a friend or family member – get it is writing. With the help of on line services like One2One Lending it is not intimidating.
Tuesday, October 5, 2010
Promissory Note Forms: Advantages For Business Owners
Most people have the need of a promissory note form at some point during their business or personal dealings. For example, you might sell a painting from you estate. If you lend money to a family member it is important that you have an agreement that covers all the important points upon which you and the other party have agree. These and many other types of common documents need to have standardized wording. Here are a few of the reasons why getting your documents prepared and printed online with One2One Lending makes good sense.
Small business owners use many promissory note documents in their transactions. Some online forms that are available are related to a particular type of business. If you use a standard form that has the entire promissory note wording, your business will be perceived as responsible and professional. Novices who use hand-written or improperly prepared documents may find that they didn’t cover all the necessary terms in preparing the forms.
A document prepared by an attorney will have the required wording and include all the necessary components. If the document is technically correct, you are less likely to get into trouble with your promissory note later on. If you have a promissory note from One2One Lending and are still uncertain, take the prepared form to an attorney and ask for a review. This method will still save you money, as it requires less attorney time to review.
Even the simplest form prepared by an attorney can be very expensive. Attorneys typically charge by the hour and bill in fifteen minute segments. So a form that takes only a couple minutes to locate and print may end up costing you significant money. Using online forms also saves you time, since you don’t have to go to the attorney’s office, set up an appointment and return a second time to pick up the completed documents.
When you use online services, it’s easier than explaining to an attorney what it is you want prepared. Online documents allow you to receive a finished product that fits your exact circumstances. With online forms, you answer a few questions, review the completed document online and print the copy for your use.
The forms are completed seamlessly online so that the printed product appears to be custom prepared with your information included. The document looks professional. You won’t have to use a pre-printed form and fill in blanks or cross out sections that don’t apply.
Online promissory note forms make a lot of sense in many situations. The document you receive will have all the needed promissory note terms so that it is precise. It takes only moments to have a document that is specific to your own needs.
Small business owners use many promissory note documents in their transactions. Some online forms that are available are related to a particular type of business. If you use a standard form that has the entire promissory note wording, your business will be perceived as responsible and professional. Novices who use hand-written or improperly prepared documents may find that they didn’t cover all the necessary terms in preparing the forms.
A document prepared by an attorney will have the required wording and include all the necessary components. If the document is technically correct, you are less likely to get into trouble with your promissory note later on. If you have a promissory note from One2One Lending and are still uncertain, take the prepared form to an attorney and ask for a review. This method will still save you money, as it requires less attorney time to review.
Even the simplest form prepared by an attorney can be very expensive. Attorneys typically charge by the hour and bill in fifteen minute segments. So a form that takes only a couple minutes to locate and print may end up costing you significant money. Using online forms also saves you time, since you don’t have to go to the attorney’s office, set up an appointment and return a second time to pick up the completed documents.
When you use online services, it’s easier than explaining to an attorney what it is you want prepared. Online documents allow you to receive a finished product that fits your exact circumstances. With online forms, you answer a few questions, review the completed document online and print the copy for your use.
The forms are completed seamlessly online so that the printed product appears to be custom prepared with your information included. The document looks professional. You won’t have to use a pre-printed form and fill in blanks or cross out sections that don’t apply.
Online promissory note forms make a lot of sense in many situations. The document you receive will have all the needed promissory note terms so that it is precise. It takes only moments to have a document that is specific to your own needs.
Saturday, October 2, 2010
Sunday, September 26, 2010
Promissory Note Forms: Advantages For Business Owners
Most people have the need of a promissory note form at some point during their business or personal dealings. For example, you might sell a painting from you estate. If you lend money to a family member it is important that you have an agreement that covers all the important points upon which you and the other party have agree. These and many other types of common documents need to have standardized wording. Here are a few of the reasons why getting your documents prepared and printed online with One2One Lending makes good sense.
Small business owners use many promissory note documents in their transactions. Some online forms that are available are related to a particular type of business. If you use a standard form that has the entire promissory note wording, your business will be perceived as responsible and professional. Novices who use hand-written or improperly prepared documents may find that they didn’t cover all the necessary terms in preparing the forms.
A document prepared by an attorney will have the required wording and include all the necessary components. If the document is technically correct, you are less likely to get into trouble with your promissory note later on. If you have a promissory note from One2One Lending and are still uncertain, take the prepared form to an attorney and ask for a review. This method will still save you money, as it requires less attorney time to review.
Even the simplest form prepared by an attorney can be very expensive. Attorneys typically charge by the hour and bill in fifteen minute segments. So a form that takes only a couple minutes to locate and print may end up costing you significant money. Using online forms also saves you time, since you don’t have to go to the attorney’s office, set up an appointment and return a second time to pick up the completed documents.
When you use online services, it’s easier than explaining to an attorney what it is you want prepared. Online documents allow you to receive a finished product that fits your exact circumstances. With online forms, you answer a few questions, review the completed document online and print the copy for your use.
The forms are completed seamlessly online so that the printed product appears to be custom prepared with your information included. The document looks professional. You won’t have to use a pre-printed form and fill in blanks or cross out sections that don’t apply.
Online promissory note forms make a lot of sense in many situations. The document you receive will have all the needed promissory note terms so that it is precise. It takes only moments to have a document that is specific to your own needs.
Small business owners use many promissory note documents in their transactions. Some online forms that are available are related to a particular type of business. If you use a standard form that has the entire promissory note wording, your business will be perceived as responsible and professional. Novices who use hand-written or improperly prepared documents may find that they didn’t cover all the necessary terms in preparing the forms.
A document prepared by an attorney will have the required wording and include all the necessary components. If the document is technically correct, you are less likely to get into trouble with your promissory note later on. If you have a promissory note from One2One Lending and are still uncertain, take the prepared form to an attorney and ask for a review. This method will still save you money, as it requires less attorney time to review.
Even the simplest form prepared by an attorney can be very expensive. Attorneys typically charge by the hour and bill in fifteen minute segments. So a form that takes only a couple minutes to locate and print may end up costing you significant money. Using online forms also saves you time, since you don’t have to go to the attorney’s office, set up an appointment and return a second time to pick up the completed documents.
When you use online services, it’s easier than explaining to an attorney what it is you want prepared. Online documents allow you to receive a finished product that fits your exact circumstances. With online forms, you answer a few questions, review the completed document online and print the copy for your use.
The forms are completed seamlessly online so that the printed product appears to be custom prepared with your information included. The document looks professional. You won’t have to use a pre-printed form and fill in blanks or cross out sections that don’t apply.
Online promissory note forms make a lot of sense in many situations. The document you receive will have all the needed promissory note terms so that it is precise. It takes only moments to have a document that is specific to your own needs.
Tuesday, September 21, 2010
Why pay a bank a high interest rate to borrow money on credit cards when you can borrow from your family for much less?
This is the question that is the basis for companies like One2One Lending. One2One offers the private lender all of the tools and resources to complete a successful loan – without the fees associated with lawyers. Through its website www.One2One Lending.com the company is the leading provider of Private Lending tools such as:
• Promissory Note Agreements
• Sample Loan Forms
• Private Loan Agreements
• Simple Loan Contracts
A typical story of a one to one customer is Jimmy Z from Long Island, New York. "I was looking for a do-it-myself promissory note to borrow some money for my new card shop. One2One’s website was easy to use and in no time I set up a promissory note with a friend in the business. We agreed on the interest rate and the loan payment amount, and then we put our agreement in writing."
One2One Lending helps out new business owners who would have put thousands of dollars on their credit cards at high interest rates to fund their new businesses. Instead, they are able to borrow money from family members at a much lower rate and keep the money in the family.
One2One Lending empowers lending among family members and provides people with funding alternatives to high interest rates and difficult banks. If you’re paying high interest rates on business capital or any kind of loan and a family member might consider helping you out One2One’s website will provide the resources and tools to help establish a successful private loan.
• Promissory Note Agreements
• Sample Loan Forms
• Private Loan Agreements
• Simple Loan Contracts
A typical story of a one to one customer is Jimmy Z from Long Island, New York. "I was looking for a do-it-myself promissory note to borrow some money for my new card shop. One2One’s website was easy to use and in no time I set up a promissory note with a friend in the business. We agreed on the interest rate and the loan payment amount, and then we put our agreement in writing."
One2One Lending helps out new business owners who would have put thousands of dollars on their credit cards at high interest rates to fund their new businesses. Instead, they are able to borrow money from family members at a much lower rate and keep the money in the family.
One2One Lending empowers lending among family members and provides people with funding alternatives to high interest rates and difficult banks. If you’re paying high interest rates on business capital or any kind of loan and a family member might consider helping you out One2One’s website will provide the resources and tools to help establish a successful private loan.
Tuesday, September 14, 2010
Rent versus Own Calculators
Read most “rent vs. own” articles, and you’ll typically see advice like, “Normally it’s better to own than rent. Here’s a calculator to help you decide which is best for you.” Then they’ll show you a calculator like one of these:
• New York Times Rent Vs Own Calculator
• Smart Money Rent Vs Own Calculator
• Motley Fool Rent Vs Own Calculator
But there’s a problem with these calculators. As with many online calculators offering easy answers to complex questions, in order for them to work, you’re required to know the unknowable. For example, you’re supposed to supply the future price appreciation of real estate, annual maintenance costs, initial fix-up costs, what you expect to earn on your savings, your future tax bracket, future property taxes, future rent increases – lots of key variables that virtually nobody can possibly know.
Had you used any of these calculators back in 2006, you’d have bought a house and made the worst investment decision of your life. Maybe it’s time to understand a few fundamentals when it comes to deciding whether to rent or own. Get these down before using any calculator.
In addition to these calculators check out the Resource Center at One2One Lending for more financial help.
• New York Times Rent Vs Own Calculator
• Smart Money Rent Vs Own Calculator
• Motley Fool Rent Vs Own Calculator
But there’s a problem with these calculators. As with many online calculators offering easy answers to complex questions, in order for them to work, you’re required to know the unknowable. For example, you’re supposed to supply the future price appreciation of real estate, annual maintenance costs, initial fix-up costs, what you expect to earn on your savings, your future tax bracket, future property taxes, future rent increases – lots of key variables that virtually nobody can possibly know.
Had you used any of these calculators back in 2006, you’d have bought a house and made the worst investment decision of your life. Maybe it’s time to understand a few fundamentals when it comes to deciding whether to rent or own. Get these down before using any calculator.
In addition to these calculators check out the Resource Center at One2One Lending for more financial help.
Tuesday, September 7, 2010
What is a Short Term Personal Loan?
One2OneLending.com
A personal loan is an amount of money that you borrow for a specified length of time at a certain interest rate. It is a fast and easy way to get a cash advance for specific purposes. Personal loans can be installment loans such as a car loan or a demand loan. With an installment loan the borrower makes periodic payments (monthly, quarterly, etc.) that reduce the amount of the loan until it is paid in full with interest. A demand loan has an interest rate but does not have specified monthly payments, however the lender can demand payment from the borrower at anytime.
There are many reasons why people take out a personal loan. Some of the most popular reasons are home improvement and debt consolidation. Sometimes the loan is taken out for a major purchase such as an appliance or a family vacation. There are many reasons why people borrow money. Personal loans are very flexible and are designed to meet these many reasons.
The borrower should have a steady income source, and have the capability of repaying the loan principal and interest according to the repayment schedule. The maximum amount of a short-term personal loan and the period of repayment vary. The maximum amount of the loan is usually based on the purpose of the loan and the borrower’s ability to repay the loan. The rate of interest is generally based upon market interest rates and can be found on websites such as: http://www.one2onelending.com/. Personal loans are often limited to 5 years but can be extended up to 10 or 15 years for purposes such as home improvements.
There are companies that specialize in making personal loans for specific purposes. In you want to finance a car, you may look at some of the car credit companies who offer a number of deals with incentives such as lower interest rate and less down payment amounts when you take a loan out with them. There are similar personal loan providers for home improvements and debt consolidation, etc.
Normally it is easier to apply for a personal loan than a mortgage loan. Less paperwork and lower income verification standards usually means that the loan approval process is considerably shorter than a mortgage loan.
A personal loan is an amount of money that you borrow for a specified length of time at a certain interest rate. It is a fast and easy way to get a cash advance for specific purposes. Personal loans can be installment loans such as a car loan or a demand loan. With an installment loan the borrower makes periodic payments (monthly, quarterly, etc.) that reduce the amount of the loan until it is paid in full with interest. A demand loan has an interest rate but does not have specified monthly payments, however the lender can demand payment from the borrower at anytime.
There are many reasons why people take out a personal loan. Some of the most popular reasons are home improvement and debt consolidation. Sometimes the loan is taken out for a major purchase such as an appliance or a family vacation. There are many reasons why people borrow money. Personal loans are very flexible and are designed to meet these many reasons.
The borrower should have a steady income source, and have the capability of repaying the loan principal and interest according to the repayment schedule. The maximum amount of a short-term personal loan and the period of repayment vary. The maximum amount of the loan is usually based on the purpose of the loan and the borrower’s ability to repay the loan. The rate of interest is generally based upon market interest rates and can be found on websites such as: http://www.one2onelending.com/. Personal loans are often limited to 5 years but can be extended up to 10 or 15 years for purposes such as home improvements.
There are companies that specialize in making personal loans for specific purposes. In you want to finance a car, you may look at some of the car credit companies who offer a number of deals with incentives such as lower interest rate and less down payment amounts when you take a loan out with them. There are similar personal loan providers for home improvements and debt consolidation, etc.
Normally it is easier to apply for a personal loan than a mortgage loan. Less paperwork and lower income verification standards usually means that the loan approval process is considerably shorter than a mortgage loan.
Tuesday, August 31, 2010
Press coverage that makes us proud
A website specifically catering for the personal loan market is www.one2onelending.com. One2One Lending is organized specifically so that a visitor can easily catch up with the latest information about personal loans. One2one Lending is a resource that actually helps the user find out exactly what they want, both quickly and easily.
Many websites are designed purely for mortgages and borrowing from financial institutions such as banks. One2one Lending is designed just for the personal loan market so the user does not waste time searching for something that should be accessible within a matter of clicks.Very few websites take account of what the end-user wants as obviously they have a financial objective.
Customers continually comment on how easy the website is to use and on how practical it was to have all the necessary resources in one place without having to search around the Internet to discover what they needed. If you want to find out more, please go to www.One2OneLending.com where all the information you need can now be found one of the internet's personal loan websites.
Many websites are designed purely for mortgages and borrowing from financial institutions such as banks. One2one Lending is designed just for the personal loan market so the user does not waste time searching for something that should be accessible within a matter of clicks.Very few websites take account of what the end-user wants as obviously they have a financial objective.
Customers continually comment on how easy the website is to use and on how practical it was to have all the necessary resources in one place without having to search around the Internet to discover what they needed. If you want to find out more, please go to www.One2OneLending.com where all the information you need can now be found one of the internet's personal loan websites.
Thursday, August 26, 2010
Credit rating problems – look to friends and family.
These days many people have poor credit ratings. They must look to other loan sources apart from using the normal financial institutions. If you are approached to offer a loan to a person with poor credit, you should draft a loan contract. This type of contract, also called a promissory note, should be used even if you are lending money to your friends or family members. “Putting it in writing,” will help to avoid misunderstandings later.
Many people have never used a loan agreement before and therefore they would require a sample to help them draft their own agreement. The sample can be found on site such as www.One2OneLending.com. One2One’s AgreementBuilder will walk you through the process of creating your document, or their Forms MarketPlace will provide you with a “fill-in-the-blanks document.
A loan agreement is a legally binding document and it requires the inclusion of certain information. Sometimes you have to go to courts to recover your money and the lack of certain information in the agreement can hurt your efforts.
Information that must be included in the sample loan agreement includes the name and address of the lender and the name and address of the borrower. Additional information that is necessary includes the loan terms, the interest rate and the final date when the loan should be repaid. The sample loan document you use may also include other specifics such as collateral used to secure the loan, late fees, grace periods and steps that will be taken should the borrower default on payments. When downloading sample loan agreements from One2One Lending it is important to find the document that reflects your type of loan. Again, The AgreementBuilder and Forms MarketPlace will help you in this process.
Many people have never used a loan agreement before and therefore they would require a sample to help them draft their own agreement. The sample can be found on site such as www.One2OneLending.com. One2One’s AgreementBuilder will walk you through the process of creating your document, or their Forms MarketPlace will provide you with a “fill-in-the-blanks document.
A loan agreement is a legally binding document and it requires the inclusion of certain information. Sometimes you have to go to courts to recover your money and the lack of certain information in the agreement can hurt your efforts.
Information that must be included in the sample loan agreement includes the name and address of the lender and the name and address of the borrower. Additional information that is necessary includes the loan terms, the interest rate and the final date when the loan should be repaid. The sample loan document you use may also include other specifics such as collateral used to secure the loan, late fees, grace periods and steps that will be taken should the borrower default on payments. When downloading sample loan agreements from One2One Lending it is important to find the document that reflects your type of loan. Again, The AgreementBuilder and Forms MarketPlace will help you in this process.
Tuesday, March 2, 2010
Recognize the runaround and put a stop to it as soon as possible.
The human condition is one of flux. One of the nice things about lending to a friend is that, hopefully, you can be a little more flexible than a big, faceless corporation. However, if your friend is taking advantage of your good nature, you will not be helping him or your friendship by letting your friend slide on their repayment.
John borrows $150 from you and promises to pay it back in a week. At the end of the week, he lets you know he will need another week because had other expenses. You agree to let him have another week. A week later, he tells you his pay was reduced and he can't pay yet. Meanwhile, John has plenty of money for food, dinner and entertainment. He isn't taking the debt seriously, and is just running you around, and the sooner you recognize it, the sooner you can deal with it.
If John is just a kind of strange, you may be best off to consider that money gone and just resume your friendship, deciding never to "loan" John any money in the future.
If you really must have that money back, you may need to face the fact that you and John are going to have a serious fight, or maybe aren't going to be friends any more once you have your money back. Think carefully about how you want to handle this situation.
John borrows $150 from you and promises to pay it back in a week. At the end of the week, he lets you know he will need another week because had other expenses. You agree to let him have another week. A week later, he tells you his pay was reduced and he can't pay yet. Meanwhile, John has plenty of money for food, dinner and entertainment. He isn't taking the debt seriously, and is just running you around, and the sooner you recognize it, the sooner you can deal with it.
If John is just a kind of strange, you may be best off to consider that money gone and just resume your friendship, deciding never to "loan" John any money in the future.
If you really must have that money back, you may need to face the fact that you and John are going to have a serious fight, or maybe aren't going to be friends any more once you have your money back. Think carefully about how you want to handle this situation.
Monday, March 1, 2010
Usury Rate
What Does Usury Rate Mean?
A rate of interest that is usually considerably above current market rates. Usury rates are often charged by unsecured lenders on loans. These rates can be illegal in some countries and situations because they often take advantage of unsuspecting individuals.
A rate of interest that is usually considerably above current market rates. Usury rates are often charged by unsecured lenders on loans. These rates can be illegal in some countries and situations because they often take advantage of unsuspecting individuals.
Tuesday, February 23, 2010
Decide if the person is trustworthy or not
If your borrower is somewhat flaky, then it’s a good idea to lend only a small amount of money or none at all. (There's nothing to say you cannot give some money to this friend, with no expectation of repayment. You can call it a loan if you like, but you can't really get mad if your friend doesn't pay you back).
If the person is trustworthy, then you should take into consideration how much money is requested. You might be willing to lend an amount less than asked for, and if this is the case, say so. Example: "I can't lend you $200, but how about $100?"
Under all circumstances, make sure that you get your loan understanding in writing. Use a loan contract or promissory note to avoid misunderstandings.
If the person is trustworthy, then you should take into consideration how much money is requested. You might be willing to lend an amount less than asked for, and if this is the case, say so. Example: "I can't lend you $200, but how about $100?"
Under all circumstances, make sure that you get your loan understanding in writing. Use a loan contract or promissory note to avoid misunderstandings.
Friday, February 19, 2010
Be Your Own Loan Agent
One2One Lending helps individuals formalize their lending agreements between the borrower and Lender.
One2One’s Agreement Builder™ guides you through creating a promissory note that is legally binding. Customers are guided through a process that helps them input loan terms (including interest rates and payment terms). Before purchasing the promissory note the customer can preview the repayment schedule which is built upon the chosen interest rate, loan term, and payment amount.
One2One also offers a Loan Forms marketplace. Customers can download a do-it-yourself promissory note that the customer can fill in the blank in a Word Document.
One2One’s Agreement Builder™ guides you through creating a promissory note that is legally binding. Customers are guided through a process that helps them input loan terms (including interest rates and payment terms). Before purchasing the promissory note the customer can preview the repayment schedule which is built upon the chosen interest rate, loan term, and payment amount.
One2One also offers a Loan Forms marketplace. Customers can download a do-it-yourself promissory note that the customer can fill in the blank in a Word Document.
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