Posted by Lisza on June 04, 1999 at 13:25:36:
They are not collateralized. When people want to take her training, but can’t afford the entire amount up front, she creates notes. She sold them before, but got shafted on a deal,but now she has a lot of notes she would like for me to broker. Who will buy them, individual or institution?
Training Notes (Need Help) - Posted by Lisza
Posted by Lisza on June 04, 1999 at 09:41:30:
I have a lady who is interested in giving me training notes to broker. Does anyone know who brokers these notes, and how is the transaction between her and I handled. What should I look for, not except etc. She provides training for her own company, creates notes, and now she wants to cash out.
Thanks in advance for your help.
Lisza
Re: Training Notes (Need Help) - Posted by John Behle
Posted by John Behle on June 04, 1999 at 16:20:18:
We do the exact same thing with a personal development training company. We do similar things with food storage companies and other consumer products. I love taking business from Beneficial 
Our approach is on a one on one basis for the funding. We receive a discount from the company so our terms to the payor don’t have to be exhorbitant.
We meet with the people and many times we can do a debt consolidation loan through our mortgage company that gives them the cash they need as well as helps stabilize them financially.
In other cases, we create a small second against their equity and still have a decent LTV.
Each case where they don’t have collateral we again consider on a per customer basis. If credit, job and financials look good, we will make a non-secured loan. The gurantee I negotiated with the company is a replacement guarantee. If a note goes bad, they will replace it with a performing one. A second option we structured is a “training credit” that allows us to put people in ourselves.
The first option of a refinance is non cash or short term cash for us. The second option is a readily saleable note (but we keep them). The third option we keep also, but if structured properly and seasoned they are saleable or loanable.
Re: Training Notes (Need Help) - Posted by jroyce
Posted by jroyce on June 04, 1999 at 11:57:53:
what is a" training note".?? Is it secured or unsecured paper. I deal in paper that has collateral behind it.