I usually have to run it for several applications to finally get the stink out so it’s all good in the hood 

Charley FernandezI would say that the source is not as important as the screening of applicants you get from those sources.

A desktop application (such as quickbooks) is needed for quick data entry and flexibility in case we make any mistakes.

Vehicles, equipment, inventory, accounts receivables and orders, your security is accomplished with an agreement and/with UCC filings.When doing due diligence in such an opportunity, begin with him personally, then his business history, then financials, then compliance issues that may be applicable, then employees, with employees, look at criminal records, pay being customary and work history.

The list is getting too long to keep track, problems and variations are almost endless, redemption rights are pretty easy to overcome with escrows if such is applicable.

—as security for a loan, the borrower has a contingent liability.The lender is not required to include this contingent liability as part of the borrower's recurring monthly debt obligations provided the lender obtains a copy of the applicable loan instrumentthat shows the borrower's financial asset as collateral for the loan.

Also, about the fingerprint cards, do you actually have applicants that do this?

Also the application asks for loan account numbers.The rental application you guys use asks for all this information?

Main thing is how much you trust your family to be ok with this and how well you communicate. 7.5% is well above the AFR minimum rates, so you wouldn't have an issue, but definitly make sure to understand the Applicable Federal Rates (http://apps.irs.gov/app/picklist/list/federalRates.html).

. - Lender fees - origination fee, application fee, loan fee, doc prep fee, credit report, inspection fee, appraisal fee just to name half a dozen that you could be charged.