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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
1. 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).
2. 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.
3. 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
4. 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