Commercial loan brokers are the middle men between borrowers and lenders. They help the borrower select the best loan for the company's financial goals. Commercial loan brokers are independent contractors who work to secure loans for businesses, as opposed to individuals, so they aren't bound to any specific lending institution and can shop around for the best loans for their clients.
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Difficulty:
Moderately Easy
Instructions
1
Get your securities licenses. Commercial loan brokerages are considered securities firms and it's illegal for anyone who isn't licensed to sell securities. You'll need to take a classroom course, study on your own and take a state approved licensing test to pass the licensing requirements to become a commercial loan broker.
2
Apply for positions at brokerages that are hiring loan brokers. There are many loan brokerages out there and many of them need new brokers to work for them.
3
Dress and behave professionally for all interviews. Financial service sector jobs tend to be fairly conservative and you stand a better chance of being selected as a broker if you fit the part.
Tips & Warnings
Remember that commercial loan brokers are independent contractors who often work for a larger brokerage company. Because you'll be an independent contractor, you may need to make a business investment from your own pocket to cover startup costs and marketing.
Most commercial loan broker positions are commission-based, so be sure that you can handle a strongly sales-oriented job prior to walking down this career path. Money may be tight when you first start your commercial loan broker business.
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