Enterprising persons in communities are actively creating an income niche for themselves by involvement in a partner type plan wherein they support each others entertainment event. The events circles around bars and the sale of liquor food and music. There is a rotational synergy that is primarily supported (sponsored) by the companies such as Wray & Nephew, D&G and others that will oftentimes offer the liquor on consignment, however there is oftentimes a shortfall and a need for additional cash to cover expense for food and other items to which OBF can both fit in as a lender and sponsor to have a subtle marketing presence to create added clients.
- Borrow up to $60,000
- Same day processing
- Flexible security/collateral packaging including ‘no security required*’ offered
- Enjoy a weekly low interest rates of 1.5%* approximately
- Delayed* interest payment for up to four (4) weeks
- Pay only interest for an agreed period
- Pay full principal of part at an agreed time usually after the event
- Establishing line of credit possible with periodic draw-down as needed for future
- round robin events
- No processing fees
- Lump-sum payments possible
- Early close out; No Problem- No Penalty
- The borrower must meet the standard security requirement necessary unless the borrower is opting for the ‘No security required*’ plan in which case the borrower has to provide two round robin co-borrower (guarantor).
- Borrower that benefit from a no security required option must also agree to a co-sponsor plan which will see OBF having a conspicuously display the banner (THIS EVENT IS CO-SPONSORED BY OBF FINANCE CO.) at their events as a loan/sponsor condition. at the event with flyers available.
- Borrowers, if unable or unwilling to provide the usual collateral can access the ‘no security required*’ loan package by getting two other round-robin members to co-join (as guarantor) who will be able themselves later to get similar loans for similar purpose in the future if the main borrower repays as agreed.
- Total repayment of loan is due the day after the event
Loans exceeding $100,000 must be secured with a combination of a primary* and secondary* security package