Every installment loan, payday loan, car title title loan lender… all consumer lending business owners need information about their competition. As lenders in “the business of lending money to the masses,” I must know what my competition is doing!
I gotta know what’s working for other payday loan, title loan and installment lenders in my area and beyond!
Enable your competition’s employees to spill their guts!
HOW TO “GET THE DIRT” ON YOUR
COMPETITION.
Try Craigslist.com. Run an ad.
Or, as I illustrateabove use Indeed.com to find experienced consumer loan customer service agents and
management professionals having SERIOUS EXPERIENCE in the business of lending money.
Input “payday loans” or “car title
loans” or consumer loans” or installment loans” or… into the “WHAT “ field.
For “WHERE” input your location. [Recall from our “Bible” that you do NOT need a local employee for many of the employee positions needed in your consumer loan business. A remote employee living in a low cost city such as Albuquerque could certainly make collection calls or underwriting calls all day long for your consumer lending business. They could perform all your social media tasks just as well. Why pay a Houston or Los Angeles based employee to knock out your Facebook, Blog Posts, Twitter, Instagram… social media chores? No need!] Here’s a sample of my results for experienced consumer loan pros in my area of Newport
Beach, Calif. Couldn’t I just as well plug in Tupelo, Mississippi, one of the cheapest US cities to live in?
Consumer Loan Business Employee Search
How to Start a Consumer Loan Business
Here’s a free template you may use to start:
Job Description:
CONSUMER LOAN REPRESENTATIVE & AREA MANAGER
YOUR COMPANY NAME Loans is a short-term consumer finance company specializing in
car title, payday loans and installment loans.
We are currently seeking a Loan Representative & an Area Manager to join our growing company and work in our YOUR CITY office.
We are actively recruiting candidates that are looking for a career opportunity with our company. We value the relationships we have cultivated in the communities we serve and expect our employees to be an example of honesty and
respect when dealing with them.
YOUR COMPANY NAME Loans has a special approach to business and we only desire experienced candidates that can step up and work towards the exceptional customer service and image we represent.
Consumer Lending Daily Responsibilities to include:
• Providing customer service in person as well as over the phone.
• Processing loans and payments.
• Outbound collection calls.
• Managing defaulted
accounts.
• Daily reporting.
• Daily deposits (no cash handling required).
• Handling heavy phone volume.
• General office duties.
• Marketing.
Job Requirements
To be considered eligible for our Loan Representative or Area Manager positions, you must meet the following requirements:
• 12+ months experience with a PDL/title lender (We guarantee we’ll be discreet).
• Excellent customer service skills.
• Computer proficient with full
understanding of basic operating systems.
• Basic math skills.
• Excellent communication and organizational skills.
• Ability to multi-task and work in a fast-paced environment.
• Ability to handle heavy phone volume.
• Ability to advance and make serious $$.
Your competition has experienced employees who are often looking for a better situation. Often, your competitors employees are unhappy. Why? Could be they have a crappy boss, maybe the commute is too
long, often there is little opportunity for advancement, not enough money… any number of reasons.
So, by reaching out in creative ways to your competition’s employees, you can open a dialog with highly experienced, qualified personnel who are able to provide you with a much different perspective on your business and more than a few tactics that will increase your funded loans, improve collections, decrease first-time
defaults…
And, when I’m lucky enough to get a superior candidate, I often hire, collaborate or at least pay them a couple of hundred bucks for their time. It just feels right.
Thinking of starting a consumer loan
business but you’re not sure of where to begin?
TrihouseConsulting@gmail.com
