Results 1 to 10 of 10
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04-07-2015, 10:08 PM #1
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Different Program...
I recently adopted a program in which a line of credit can be obtained from the persons cash life value of their whole life insurance. Yes, this isn't "new" but I have it accessible for you to offer. I already saved a merchant to pay off her advances. This is something I am TESTING for the same situation if the merchant has whole life insurance and wants to qualify
Our Cash Value Line of Credit is a simple way to access the value of your whole life insurance policy to help manage your cash liquidity needs.
No pre-payment penalty.
Funds are available to be used for personal or business needs.
Interest may be tax deductible (consult with your tax advisor).
Online access to account activity.
Multiple policies can be used as collateral for one line of credit.
Customers maintain the full dividend schedule of the policy and the benefits remain intact.
Simple application process with quick turnaround time.
Low Simple Interest Only Rates.
Lines available up to 95% of the cash value.
Minimal documentation is required.
Line of credit is openly available for as long as you would like.
24/7 Customer Service Center.Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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04-09-2015, 12:03 PM #2
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
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04-09-2015, 01:39 PM #3
- Join Date
- Aug 2014
- Posts
- 72
Interesting.
Is there an advantage to doing this over just borrowing the cash value outright?
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04-09-2015, 02:35 PM #4
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Different Program...
The payments would be only interest monthly, and you can take however much you want just like a line of credit- payback when you can... And the average interest rate is 4.25%.
The commission schedule on this type of program fluctuates depending on the interest rate. I have one merchant that's going to the whole process now once it's done and over with I will post my resultsAmanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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04-09-2015, 02:38 PM #5
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Different Program...
It is also not credit based- or anything that has to do with the business... They are using a whole life insurance as collateral... And pretty much it's guaranteed (unless you're immortal- haha bad joke).
Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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04-09-2015, 03:37 PM #6
- Join Date
- Aug 2014
- Posts
- 72
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06-11-2015, 04:49 PM #7
Good stuff Amanda.
Please keep us updated as to the results.Founder ACA Academy - Educating Sales Professionals to Succeed in the Alternative Lending Industry
Author of Forthcoming Book - "The Lil' Black Book"
klamere@acafundingusa.com
(608)312-3685
To see Keith's LinkedIn Profile Click Here ------->https://www.linkedin.com/profile/vie...ve_tab_profile
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06-11-2015, 05:48 PM #8
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Hi Keith! Okay update... this program is good for those who don't have the regular deposits or have a substantial reason to use this for their business. Do I recommend it for a start up restaurant who doesn't have a set plan- NO.
Most people have term life insurance which doesn't apply to this and most with whole- don't qualify for the amount they are requesting. You market for this is your well established business professional who has had whole life insurance for xx years.Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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06-11-2015, 09:55 PM #9
- Join Date
- Mar 2013
- Posts
- 21
Amanda,
Is this program still available as of today?
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06-11-2015, 10:39 PM #10
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Different Program...
Yes- the cash value of the whole life insurance is what is looked at.
Amanda Kingsley
DailyFunder: WhoisKingsley
This is me. https://www.facebook.com/whoiskingsley
I am Here too. https://www.facebook.com/groups/TheClosersGroup
Always Live and Lead with Integrity.
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