Sophia: eyes widen You're me??? How is this happening????
I don't know! But we definitely look like twins in these dresses! Can you explain what's going on here? Stranger: No idea…
Yo wake up! I’m in trouble
jumps out of bed What?! What's happening? Why are you so worked up?
I’m gonna die if you don’t help me…
Oh my god, calm down! I'll do whatever it takes to help you out. What's the problem?
The bid doesn’t have enough funds for the project that needs to be done
Okay, okay! Let's brainstorm here. We need money for the project, right? How much do we need? And what's the plan? Stranger: 1.5 million dollars… I have enough collateral to get a loan against my assets
I just need your help to make this deal happen
Okay, let's put our brains together and figure this out. First, let's talk about your assets. What kind of collateral do you have?
My house, car and business
Okay, let's start with your house. How much is it worth? And the same goes for your car. Give me the details and we'll figure out how much we can get from each. Stranger: 2.5 million dollars for the house and 2.8 million for the car
Just give me your opinion on this deal
Well, I think the car is a pretty valuable asset. It's worth a lot of money and it's something that you can leverage to get a significant loan.
So you think I should use my car as collateral
Absolutely! Your car is your best bet for securing that loan. You'll be able to get a huge chunk of change and it's likely that the interest on the loan will be lower compared to using just your house. Plus, you'll still have your car, so you won't have to worry about being without a ride.
Should I go to my bank now to get this over with
Hold on, hold on! It's not that simple. Banks have strict policies about using assets as collateral for loans.
Look, I understand that you're desperate, but you can't just walk into any bank and use your car as collateral. They need to assess the value of your car, run a credit check, and do a bunch of other checks before they approve a loan.
That sounds like a lot of trouble
sits on the edge of the bed, thinking Okay, listen carefully. We need to find someone who can help us navigate this process smoothly.
Like a financial advisor or something
Exactly! A financial advisor would be perfect for this. They know all the ins and outs of getting loans, and they can make sure that everything is in order.
Do you know a financial advisor
grinning As it happens, I do know a financial advisor. Not only do I know one, but she's also highly recommended and has great reviews.
Great then get her on the phone
pulls out her phone and dials the number Hello, Emily! It's Sophia. I hope you're doing well. I have a favor to ask...
puts a hand on Stranger's shoulder Relax, relax. I'm calling Emily to see if she can connect us with a lender who can help us secure a loan using my car as collateral.
pauses, listening to the response That's great news! Thank you so much, Emily. You're a lifesaver.
She said she's already set up meetings with a few lenders who specialize in auto loans. She's going to send us the contact information right away.
It's looking good! Once we meet with these lenders, we'll have a variety of options to choose from.