Become A Commercial Finance Broker
What Is A Commercial Finance Broker?
A commercial finance broker collects required information from an enterprise or company to complete a loan application. The broker then determines and passes that information onto a lender that is interested in lending money to this type of business. The lender then evaluates whether or not the borrower is able to repay the loan. If the lender agrees to make the loan, arrangements are then made between the borrower and lender for repayment of the loan. Depending on the broker's arrangement, he or she receives a commission for this successful transaction.
What Is The Advantage Of A Commercial Finance Broker Over A Bank?
An independent commercial finance broker is more flexible than a bank because he or she has access to a wide variety of funders or lenders whereas a bank may not be very flexible because they have more restrictions which limits them from funding higher-risk borrowers.
For What Types Of Businesses Does A Commercial Finance Broker Get Funding?
Since a commercial financial broker has the ability to be more flexible than a bank, he or she can arrange funding for a wide variety of businesses.
What Are The Types Of Commercial Finance Loans ?
Examples of the types of loans that can be arranged by a commercial finance broker are as follows:
- Small Business Loans (SBA Loans)
- Accounts Receivable Factoring (Or Invoice Factoring)
- Merchant Cash Advance
- Start-Up Loans
- Franchise Start-Up Loans
- Business Acquisitions
- Acquisition Loans
- Acquisition And Development Loans
- Development Loans
- Lines Of Credit
- Professional Loans
- Equipment Financing
- Equipment Cash-Out Refinance
- Construction Financing
- Construction Improvement and Rehab Loans
- Hard Money Equity/Commercial Loans
- Working Capital Loans
- A/R (Accounts Receivable Factoring) And/Or P.O. (Purchase Order) Financing
- Asset-Based Loans (ABL)
- Peer-To-Peer Loans
- Debt Consolidation Loans
- Bridge Loans
What Are Examples Of Commercial Properties That Use The Above-Mentioned Types Of Loans ?
Some examples of commercial properties are apartments, shopping centers, malls, office buildings, warehouses, car dealerships, day cares, golf courses, convenient stores, facilities, theatres, health care facilities, motels, raw land, casinos, churches, gas stations, medical buildings, subdivisions, and more.
How Do I Become A Commercial Finance Broker?
At Triple-AAA, we offer a self-employment business program to become a commercial finance broker. Our program includes easy-to-follow instruction manuals that enable you to get started as a commercial finance broker in about 10 days so you can be on your way to potentially earning a six-figure income. In addition, a large number of loan sources are provided to you so you can connect borrowers with specific needs to the loan sources that can fulfill those needs. By using our 30 easy ways how to have borrowers contact you, the process of getting borrowers who need financing is made simpler.
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