Free Debt Relief Analysis

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Gather Basic Information

Answer a couple of basic questions about your debt. Based on your location, debt amount and type of debt, we can recommend a path.

Financial Coaches

Your certified debt resolution specialist will show you how to pay off your debt and give you the motivation to get there.

Debt Free

Follow the payment plan you agree to with your certified specialist and you are on the way to being debt free in less time and for less money than if you did it on your own.

Questions? Call IMG 888-997-5113

Alternative Loans: Business, Personal and Mortgage Lending

In addition to mortgage, business and education loans, you can always go the route of the less traveled and consider some more untraditional lending. Read below to learn more.


The Social Lending Alternative


Social lending is rising as one of the alternatives to traditional bank loans or lines of credit. One of the most popular social lending websites, Prosper, allows people to register for the website and enter their information while picking someone to lend them money at a set interest rate. These sites can allow the consumer to determine how much they would like to contribute.


Read more about these social lending sites, including their pros and cons, and about peer to peer lending.


Private Loans for Businesses


For individuals who do not want to give up a percentage ownership of the business as is often required by venture capitalists and deal with the investors who may demand significant day-to-day control, a private lender may be an alternative worth considering.


On the whole, private lenders are looking for the same information and will conduct a similar due diligence as the banks to make a funding decision. They are looking for great business ideas, at the right time, with a great business plan, backed by experienced and professional people with some financial stake in the business. However, most private lenders are specialists who engage in higher risk ventures because they understand the opportunity and risk associated with selected business types. Private lenders will not only fund project the banks rejects, they will also creatively structure loan repayment.


Make sure to shop around with private lenders, just as you would a normal business loan.


Alternative Loans for Businesses



  • Merchant Cash Advance: Generally, you can expect an advance of 125% of your monthly credit card sales. For example, you do $10,000 a month in credit card sales, your advance amount could be up to $12,500. With a $12,500 advance, your total pay back would be around $16,500. The terms vary from six months to one year. You will receive the cash in around 7 business days.

  • Fast Cash Business Loan: This program is based upon both your credit card receivables and all sales totals. It is based more upon the stability of your business than just credit card sales, and also on your personal credit score. You will receive the cash in around 7-10 business days. The amount available with this program is $5,000 to $100,000.

  • Success Business Loan: This program is again based more on your overall sales. It works much like the Fast Cash Business Loan. However, the Success Business Loan has $100,000 to $2,500,000 available per location, and the Success Business Loan takes around three weeks to provide funding.


Alternative Loans for a Home Mortgage


An alternative mortgage offers a homeowner a number of ways to pay back a mortgage loan through lower mortgage payments.


An interest-only (I-O) mortgage requires just enough money each month to cover the interest on the mortgage loan. A homeowner can only take advantage of this for a set amount of time before the mortgage lender will require larger payments for both interest and principal.


Homeowners must remember that low or interest-only payments are only temporary. Mortgage lenders expect the entire amount of the mortgage loan, plus any built-up interest, to be paid eventually.


There are advantages in alternative mortgages for certain homeowners. A homeowner in any of the following financial situations may find the flexible payments of an interest-only mortgage:



  • Homeowner has modest income currently, but expects income to jump in future.

  • Homeowner has irregular or seasonal income and will make low monthly payments during lean months but make larger payments during higher-income months

  • Homeowner has sizable home equity and will use money saved on mortgage payments to make wise, higher-paying investments elsewhere

Benefits of Debt Consolidation

  • Lower Interest Rates
  • Lower Monthly Payments
  • Eliminate Debt in Less Time
Learn About Debt Consolidation