Rick Latona has introduced DigiLoan.com, a new financing option for domainers looking to buy premium domain names.

Much like DigiPawn, a site launched by Rick Latona in 2003, DigiLoan gives you the opportunity to use your domains as collateral to borrow money. However, while DigiPawn is for short-term cash advances (typically 30-90 days), DigiLoan is for customers who need to borrow the money for a longer period of time (around 3-5 years). Also, DigiPawn deals are interest-only while DigiLoan deals include both interest and principal.

“While we are similar to Domain Capital in structure there is one main difference,” explained Rick Latona. “If you want to borrow money to buy a name from my newsletter or from one of our auctions, we are very likely to help you out. Make no mistake about it. We are here first and foremost to sell domains.”

The DigiLoan front page makes it very clear they will be picky on what deals they take, but if you need a large amount of money with a longer term domain loan then it is definitely worth checking out.

[via Rick Latona]