Loan Broker

How to Become a Business Loan Broker Post-Pandemic

Featured image by VincentWeinbeer from Pixabay

The pandemic sparked change in the minds of most everyone in the workforce. Millions of people worldwide were either furloughed, or lost their jobs entirely. Others had to quickly adjust to the remote work life when they least expected it. The chain of uncertainties made members of the workforce realize that what they needed first and foremost was a greater sense of stability in their careers. People of all ages and professional backgrounds became open to the idea of switching career paths entirely. Not any career, but to one that is more lucrative and future-proofed like a business loan broker. 

However, some things are easier said than done. One can’t quite dive into most skilled career paths, as they more/less require intensive schooling, technical know-how, a solid network of connections, and of course, financial investments. Those who did their research came to realize that one of the best career paths worth switching over to, which just happens to have a low barrier to entry, is to become a business loan broker.


What Does a Business Loan Broker Do?

Business loan brokers predominantly help small business owners secure commercial loans through the alternative finance industry. For example, they assist them finance business operations, expansions, or projects. Traditional banks decline over 75% of small business loan applications. This is because small businesses are considered too high-risk. This is why their assistance is essential.

Business loan brokers review the financial records and assets of their clients. They assess their needs and financial capacity to repay loans. Furthermore, they recommend loans from different, relevant lenders that meet the company’s financing needs. They also negotiate with lenders to find an arrangement that works for both parties, and guide them through that process.

Fortunately, there aren’t any formal education requirements set in place for one to become a successful business loan broker. Of course, anyone who happens to have a degree or certification along the lines of business or finance would have the upper hand in that arena. However, it is not mandatory. 

Most states do not even require licensing qualifications for brokers. This is because the basis of this role is excellent communication and organizational skills. There is only one downside that prevents people from being able to jump into the field after reading up on the ins and outs of it. That is the tacit knowledge that comes from being a part of the industry network and community. This is where services such as Business Lending Blueprint come in. They help make the career transition more seamless and friction-free.

Fast Track to Becoming a Business Loan Broker

Oz Konar founded Business Lending Blueprint (BLB). It has grown to become an eight-figure business in the business loan brokerage industry. Konar helps people start and grow their own six and seven figure business in the three trillion dollar alternative financial services industry as a business loan broker.

Clients of BLB have direct access to BLB’s lending partners without any middleman. This allows them to make the most revenue without having to worry about commission splits, revenue shares, monthly fees, and smoked mirrors. BLB also equips their clients with everything they need. For example, they provide online marketing strategies, their own website, one-on-one coaching so they can start generating revenue in as little as 30-60 days on their own.

When asked why becoming a business loan broker in the alternative lending industry is one of the most desirable career paths in the post-pandemic world, Konar insists, “It’s because money is the sexiest product you can ever offer to others in the market. No matter what happens, businesses will always need more funds.”

It goes without saying, however, that business loan brokers reap what they sow. It’s space for those who thrive in an intense working environment with scalable potential. Konar also established a community of lenders and over 100 experts, who all readily help each other achieve success.

Final Thoughts

As the world slowly but surely reopens, more and more small businesses will need funding either for growth, survival, or to start from the ground up. The need for business loan brokers will continue to be strong. There is no time like the present for anyone who is in career-transition to give the alternative lending industry a shot by taking the first step to become a business loan broker.