The 1% interest for the first month is now permanent. It’s a promotion that has been running throughout April and due to the positive response we are going to keep it running.

In addition, I’m making an announcement that DigiPawn, Inc will finance up to 70% of any purchase made through the Daily Domains newsletter which you can subscribe to on this site.

I was the first person to start a company which made a business out of loaning money on domains as collateral. DigiPawn did its first deal in 2004. While that was not ages ago, it was still another time in my life.

What I’d like you folks to know is that when I started the company I didn’t have as much capital as I do now. Being that I have never borrowed from a bank to do the loans, I confess that my rates were too high in the beginning.

It’s now 2008 and I am in a very different position. I want to make these deals as attractive as possible to you. All loans are interest only. If you see a name from the newsletter you like, you can now buy it for only 30% down, knowing that your first payment will be only 1% of the 70% remaining.

Naturally, you are all going to want to know about the ongoing payments. They are 3% to 5% per month which is negotiable. Clearly this is not a good long-term rate but if you sell the name or pay us back with 5-6 months, it should still be quite appealing. Remember these are interest only loans and can be paid back any time without penalties.

If you are in need of longer term financing at a lower rate, I can certainly introduce any of you to Domain Capital if you don’t already know them. I can’t speak for them but historically they will finance 60% of the purchase price.