Becoming a business loan broker can be very exciting and lucrative. However, finding the right opportunity can be time-consuming, frustrating, and if you join the wrong broker program, you can be losing thousands of dollars of potential commissions. Here’s the best loan broker opportunities.
What are Loan Broker Opportunities
There are a vast amount of loan broker opportunities and training programs online. However, most loan broker programs cost money to join and train for, and there are some loan broker franchises that cost over $25,000 to start.
Today, we are going to cover free loan broker opportunities that can get you earning income right away. With over 32 million small businesses in America, businesses need funding more than ever – which makes becoming a business loan broker very exciting.
On top of that, the best loan broker opportunities are completely free, require no broker license to start, and pay the same or next day after the business is funded.
Also, the best business loan broker opportunities do all of the underwriting and close your leads, and give you replicated websites. We will review some of the best loan broker opportunities now:
GoKapital has a nice website and offers merchant cash advances, personal loans, every type of loan under the sun, but their commission rate is based on your involvement with the client.
So, in other words – if you simply want to refer clients to them your commission would be far less than someone who is working closely with the client.
Also, if a client is interested in a loan you have to email GoKapital all their info (scenarios) – they can’t simply fill out a form on a replicated website the company should give agents.
Two: Commercial Loan Direct:
These guys pay $1250 for every loan that you close, and they pay you $250 for any agents you refer who close a sale. However, they do not offer merchant cash advance programs, only SBA’s, apartment and commercial loans – and their site is a little outdated.
Three – National Business Capital:
National Business Capital has almost everything right – they have secured over $5 Billion in capital, they have a great looking website, a ton of financial products, partner landing pages, etc.
However, you do not get paid on referring agents as well, which can be the difference between making $250k a year or $1 million per year with residual income from the production of a team of agents.
Four: David Allen Capital:
David Allen Capital has it all – they offer agents 3% to 6% on the business funding amount – loans and merchant cash advances from $2500 to $2 Million – so, the highest commission you can earn is $120k – plus overrides (view comp plan).
Plus, it is completely free to join (Northern America only) and all training is provided. You can also earn 25% to 100% overrides on the agents that you personally recruit – this means you can earn 100% of their commissions. Example: if you recruit Bob, and Bob gets a funding in his first 30 days and makes $500 and you are “amp’d up” meaning you have gotten a funding yourself in the last 30 days – you would get $500 like Bob.
So, between making commissions on your personal business fundings, you can make just as much from your personal agents. Plus, you can earn on your entire team of agents – even those you didn’t recruit – with “openline” overrides. There’s no reason you can’t make $250k to $1 million per year being a small business loan broker with DAC – especially if you already have a lot of connections in the finance industry.
How to Build Loan Broker Opportunities Online
With a company like David Allen Capital, everything is done for you. You get your own websites to promote the business, and when a business client fills out the application on your website a team of sales reps and underwriters begin to work with your client. Their lender will also keep you updated on the stages of the loan process via emails.
DAC pays daily on business fundings and weekly on team override commissions. Plus, you can earn a monthly residual check from their parent company Youngevity from building your team.
With DAC being fully ready for you to promote – the name of the game is getting targeted businesses and agents to your website. The name of any game on the internet is getting enough traffic.
So, if you think you have enough ways to tell businesses about your same day funding up to $25k, and have enough entrepreneurial type friends who want to sign up as agents – then you can make great money right away.
Keep in mind, however, the alternative financial industry is highly competitive and you will get a lot of people who sign up through your application who do not get approved for a loan – so you need to have tenacity, a thick skin, and need passion to want to truly help small businesses stay open. Otherwise, you will burnout before getting your first funding.
How to Join Our Loan Broker Opportunities
If all of this sounds good, then click the link below, watch the short video by our passionate CEO, and sign up. You will get a couple welcome emails and a text from our team trainer. If you don’t receive the welcome emails within a few minutes, check your spam folder. Thanks for reading and to your success!
Join Our Loan Broker Opportunity
Erik Christian Johnson
About Loan Broker Opportunity