Pete Garrity
Brentwood, MD (USA)
Role(s):
Founder/Owner/Principal
Glenn Ryan Group, LLC
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Startup
Location:
Brentwood
Industry:
Finance
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
There is a tremendous market for funding students for CDL [Commercial Driver License] training. The trucking industry is exploding by 300% due to the massive increase of internet purchasing. A tremendous quantity of CDL training schools have no 3rd party funding. They are not eligible for Federal funding as they are not accredited. The accreditation eligibility is a 2 year process. In the meantime 1,000s of CDL jobs are needing to be filled.
With a 20% ROI on each loan, the average profit is $700-800 per loan. Default rates are a minimum as payments are deducted directly from the students employer and any 'change' of employment or missed payments will result in the repossession of student's personal vehicle [collateral secured by a hidden GPS unit which can be remotely activated]. Co-signors of vehicle-less applicants will require a relative or friend who possesses a personal vehicle.
Associate relationships will be developed with numerous CDL companies. ROI can be over $2.2M in profit with just 100 schools enrolling one student per day.
Unlimited potential for profit.