PRZOOM - /newswire/ -
Vernon, British Columbia, Canada, 2010/08/24 - BHM Financial Group announces a new affiliation that will see Vernon Cash Solutions offering car title loans to customers.
BHM Financial a Vernon Cash Solutions, a Vernon, B.C. based Payday loan provider has joined forces with Car Title loan provider, BHM Financial Group. The companies have connected through BHM's new Payday Affiliate Program which enables Payday lenders to offer their clientele a larger number of services, including car title loans. BHM Financial Group, a privately owned lender of secured bad credit loans, began this new program earlier this year to great success.
The affiliate program geared towards Payday lenders and other financial related service providers enables the smaller lenders to offer larger loans through BHM Financial Group. Vernon Cash Solutions is the newest member of the program and is now able to cater to the needs of a larger clientele. Molly Wider of BHM Financial Group explains the reason for the creation of such a program, "In the past, BHM was only offering our services online. This meant that anyone without an internet connection, or who wasn't comfortable applying for a loan online wasn't able to benefit from our services. We decided that the best way to reach customers nationwide (as we currently do online), was to build relationships with already established financial related service providers with storefronts." She continued, "By affiliating ourselves with lenders such as Vernon Cash Solutions, who already have a valued place in their community, we are able to provide our loans to clients who prefer to apply face to face rather than online and we are able to do so through a reputable member of the community."
The loans offered through BHM Financial and now, through Vernon Cash Solutions are car title loans. These are loans that are specifically intended for individuals and companies that have bad credit and cannot therefore obtain financing at a standard financial institution. The loans are secured using the value of the borrower's vehicle, but the car's title remains in the borrower's name at all times unless the loan is defaulted.
Payday lenders who sign up for the program who were previously only able to advance small amounts of cash for a limited time - usually up to the borrower's payday, can now offer loans in amounts anywhere from $1,000 to $10,000 and with more flexible repayment terms of between 1 and 3 years. "I think this is a good opportunity for us and for Payday lenders to expand our respective businesses." Said Wider of the affiliate program, "It really makes sense for us to be working together in this way."
Car title loans provided by BHM Financial and Vernon Cash Solutions can be approved and funded in as little as 24 hours. Clients of Vernon Cash Solutions will still received the same high standard of service they are used to receiving. BHM's car title loans will simply be added to their already offered services.
BHM Financial (bhmfinancial.com) is expanding its Payday lender program throughout the country and is accepting registrations for the program through its website. For information about the Payday lender affiliate program, or BHM Financial's loans, they can be found on the web. For more information on loans provided by Vernon Cash Solutions, the company be reached at (250) 571-3419.