Do you have a great business or product idea? Have you found the perfect plot of land to develop but are short on funds? Maybe you want to develop a successful business, but the bank doesn't want to take the risk of a loan?
No matter what your reasons are for seeking large sums of money to spend on a business venture, there are a large number of personal down payments that can provide you with the financing you need.
A personal money loan in California was originally issued by investors looking for a better return than a simple investment vehicle. For example, while a CD can give a person four to six percent interest for six months to a year, a personal loan must pay back ten to fifteen percent over the same period.
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Interestingly, financial industry statistics also show that most personal cash loans are given to entrepreneurs or businesses within a 50-mile radius of the investor's home or office.
The reasons for this are not clear, but it is known that most people seeking initial investments fail to obtain the necessary funds because the management team or entrepreneurs are not known to the creditors.
That doesn't mean someone seeking personal money is confined to their local area, and the internet is a great tool for finding multiple sources of funding. However, before starting the search process, it is important to develop a very clear and comprehensive plan for both the investor and the borrower.
This should be a well-prepared document that is easy to read and understand and can be sent by post or fax, as well as in many electronic formats that can greatly facilitate the search process.