NewswireToday - /newswire/ -
Scarborough, Ontario, Canada, 2010/08/31 - BHM Financial Group has announced a recent affiliation to Scarborough based payday lender Ark Capital, which will see BHM's loans offered through Ark.
BHM Financial Group, a privately owned bad credit financing company specializing in secured bad credit loans has announced their most recent affiliation to Scarborough, Ontario based payday loan provider Ark Capital. The affiliation, which has come about due to BHM Financial's new Payday Lender Affiliate Program will permit Ark Capital to expand on its service offerings. The company will now offer car title loans as an additional financing option for their clients.
BHM's Payday Lender program initiated earlier this year to great success, enables affiliated Payday lenders and other financial related service providers to provide loans through BHM Financial without bearing any of the risk associated with larger bad credit loans. While typical payday lenders can lend limited amounts, usually under $1,000, for a restricted financing period, lenders who are involved with the program will have the ability to lend between $1,000 and $10,000 for periods of between 1 and 3 years.
Molly Wider of BHM Financial Group explains the reasons behind the program's creation, "It's really a win-win situation for both the Payday lenders and for BHM. Payday lenders are able to offer larger loans thereby potentially increasing their clientele and revenue, while BHM get's to associate with clients they previously couldn't reach." She continues, "With affiliates such as Ark Capital who are reputable members of their communities, we are able to offer the face to face, more personable service that we were previously unable to provide since our services were solely internet based."
The loans being offered are called car title loans. These loans are specifically designed for individuals and businesses with bad credit. Since most major banks no longer approve bad credit loans, private lenders such as BHM fill the gap. Car title loans, as the name suggests, are loans that are secured by the equity in the borrower's vehicle. Because loans are secured the borrower's credit history is much less significant than with standard loans.
In addition to the services already being offered by Ark Capital, car title loans have been added to their roster of financial services. Car title loans provided by both BHM and Ark Capital can be approved within hours and can be processed and funded within 24 hours of the application.
BHM Financial Group (bhmfinancial.com) is currently expanding its affiliate program throughout Canada. For more information about the affiliate program, or BHM Financial's car-title loans, they can be found on the web. For information on loans provided by Ark Capital, the company be contacted by phone at (416)-296-9247