Mortgage Company Business Plan

Topics: Balance sheet, Asset, Generally Accepted Accounting Principles Pages: 27 (8799 words) Published: February 11, 2011
Business Plans: Mortgage Company

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Mortgage Company

123 N. Main Blvd., Suite 201Seattle, Washington 98108 This mortgage company specializes in lending money to people who have poor credit or who are self−employed and have problems qualifying for conventional loans. It plans to offer complementary credit cards and debit cards, as well as insurance, for this niche market. Future plans include national expansion. This plan was provided by Ameriwest Business Consultants, Inc. • EXECUTIVE SUMMARY • OBJECTIVES & GOALS • STRATEGIES FOR ACHIEVING GOALS • BUSINESS DESCRIPTION, STATUS, & OUTLOOK • MANAGEMENT & OWNERSHIP • MARKET ANALYSIS • MARKETING STRATEGIES • FIVE−YEAR PROJECTIONS • RATIO COMPARISON • CONCLUSIONS & SUMMARY

Confidentiality Statement
The information, data, and charts embodied in this business plan are strictly confidential and are supplied on the understanding that they will be held confidentially and not disclosed to third parties without the prior written consent of National Mortgage.


Mortgage Company


Business Plans: Mortgage Company

National Mortgage has developed a unique concept of lending to people who have less than perfect credit or self−employed people who have a hard time qualifying for conventional loans. The money loaned out is typically used by borrowers to consolidate debt and can provide a source of huge savings for our clients by paying off high interest credit card debt. We charge competitive interest rates. Our customers are very ready to work with us because they have usually been turned down by one or more lenders and we can provide them peace of mind and a way to solve their credit problems. The loans are secured with a second mortgage on their property. Hours of operation are Monday through Friday, 10:00 A.M. to 7:00 P.M., and Saturday, 8:00 A.M. to 3:00 P.M. The processing center is open 8:00 A.M to 8:00 P.M., Monday through Friday, and 8:00 A.M. to 6:00 P.M. on Saturday.

The business is in its third year of operation. Operations are conducted from facilities located at 123 North Main Boulevard in Seattle, Washington. The premises consist of approximately 1,600 square feet. The first several years were used to build the business, equip the office and hire a competent staff. Key employees are Jill Stone, Sue Brown, Helen Hunt, and Rachel Rosana. The company currently employs five people. National is now ready to move to a higher level and can handle a much greater volume. We are currently working with Merrill Lynch and ABC to franchise our unique concept on a national scale.

The company is set up as a corporation with Jill Stone owning 100% of the stock. She initially helped set up the operations and even though she is now less active in the operations, she is available for consultation and advice. The corporation is an "S" corporation, but will be changed to a "C" corporation by the end of 1997 to satisfy requirements for becoming a franchiser. The corporation type of entity was chosen for liability protection, tax considerations, growth plans, stock option plans, and the opportunity to raise capital from investors more easily. Sue Brown serves as vice president. She has five years of experience in the mortgage business. Helen Hunt serves as operations manager. Rachel Rosana is the processing manager. National currently employs five additional people...
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