Interest-Free Loans to start your very own business. Interest-Free bridging finance to buy a property. Interest-Free cash to buy that franchise that you have long thought about. Do you think you would get a project in your life moving more quickly if you knew that you could borrow money without having to pay any interest on the loan? Or is an interest-free cash loan little more than a pipe-dream?
When starting a business, for example, having enough money for the business alone may not be the key problem. The real financial issue may well be a combination of start-up cash as well as your survival money i.e. how can you continue to survive and pay your bills whilst getting the business going?
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Research shows that most Americans and British people have very little in the way of savings. A report in 2006 said that Americans were keeping just $1.80 for every $100 they took home in their pay-packet and this level of savings was going down. Similarly, in the UK, more than 25% of all households were reported in 2006 as having no savings whatsoever.
However, let's assume you have some money saved. The money you have is more than most but is still not enough to follow the Robert Kyosaki principle of "Rich Dad, Poor Dad" fame i.e. only begin a venture when you have two years survival money. Instead, you have between 6 and 12 months money. What would you do with your project, your business, your vision, if you could engineer an interest-free loan for a 12-month period or longer?
Tony, a friend of mine in London, was absolutely passionate about trading Foreign Exchange and wanted to start a business trading currencies. He had searched long and hard for a mentor that was willing to take him under his wing and teach him how to identify profitable market inefficiencies. (By the way, market inefficiencies is just a fancy-pants term used in banking and economics. It describes the weaknesses and errors that exist all over the financial markets that can be exploited for a profit. Anyway, I digress. Back to Tony.)
Eventually, Tony found his mentor. He, also, had capital to execute the trading plan suggested by his mentor. Yet Tony was missing something vital and that something was survival money. The savings he had made were not enough to sustain him for two years. Likewise, his mentor wasn't going to hang around waiting for him to be more comfortable first. After all, why should he, his trading acumen was in high demand. So what would Tony do give up on his dream, passion and vision? Or would he be willing to do whatever it took to bring his vision to life?
I had worked in Investment Banking for 16 years alongside some geeky math whizz-kids that seemed to create financial products out of thin air. Banking had, sort of, brainwashed me to think a particular way and I realised that I could do some very straightforward financial engineering of my own to create an interest-free loan for Tony.
Above all else, I had discovered that I didn't have to be a math genius or a geek or have a perfect GMAT score to make it work. All I needed was the Internet and a reasonable credit rating. In the same way that the Wall Street, London, Tokyo and Sydney brainiacs used the tools at their disposal to minimise interest payments (or avoid it totally), I recognised that I could do the same too.
And that's what I did. With a few careful steps I engineered a loan for Tony. He had access to $30,000 for 13 months and never paid a penny in interest. (He just had a small upfront charge for borrowing the money and I later found a way to reduce this charge much further.) He didn't need all of the $30k but it was there for him nonetheless.
Tony was in a business that allowed him to generate revenues quickly and had peace of mind knowing that he had sufficient money to survive during the critical start-up period. Was this an ideal solution? Not by any means. Real-world business is far from ideal. However, it was a solution that allowed him to work towards his vision more quickly because of some creative, interest-free financing.
So, whatever your vision or dream is, an interest-free loan can be engineered very simply indeed. It most definitely is NOT rocket-science. Anyone can create a loan where there are zero interest payments. It's not complicated and can be put together quickly enough.
In order to make a deal more profitable, one of the first things the big boys in American, European and Asian banks will look to do is reduce, or avoid, the interest payments on the money they borrow. This, alone, should be a big clue as to what we should be doing too when it comes to borrowing money. After all, there aren't that many poor investment bankers in the world now are there?
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