Will You Take Advantage Of The Booming Lending Industry?
Starting your own business may sound appealing, but the reality is that it’s not quite as exciting as it sounds, especially if you want to see it succeed.
However, despite the pandemic, the lending industry is really expanding.
Only around a fifth of small firms who apply for a loan get approved by banks, even though they are the ones who need the money.
So, they’re easy prey for some business loan scams as they try to build their national business capital.
So what will these small businesses do?
They will look for other alternatives to get that loan and run the risk of bumping into a business loan scam in the process, which brings me to this Loan Broker Network review.
Is the Loan Broker Network heaven-sent not just to these businesses but also to those who are seeking alternative ways to earn money?
Now, I want to be completely honest here, so…
This review will go over The Loan Broker Network to see if it really is the best loan brokering course out there.
You’ll learn whether loan brokering is the right online business for you.
And at the end, you’ll find answers to some of the most frequently asked questions regarding Loan Broker Network and loan brokering in general.
But most importantly, you’ll see the exact system many others have used to build their own internet marketing business to over $40,000 a month in mostly passive income.
This system made them swear off loan brokering for good because it uses some of the same skills but in a much more powerful and profitable way!”
Alright, so Loan Broker Network doesn’t exactly fit into a nice category.
At the end of the day, a broker loan is a… unique way to think about making money.
It’s certainly possible to make money with off-the-wall businesses like this, but unless you’re interested in taking years out of your life to experiment with an unproven business model, I would look elsewhere.
My #1 personal recommendation if we’re talking about starting a fully-online business has got to be the Lead Generation & Ad Agency business models.
There are a handful of programs that teach you the ropes, but my #1 choice that combines both of those business models into one is the Digital Landlords program
But, if you’re hard-pressed to jump head-first into an off-the-wall business model, let’s continue to my full breakdown of Loan Broker Network.
What Is A Broker Loan?
A broker loan is a loan the borrower must repay the lender within the agreed-upon time frame.
This is also known as a call or demand loan issued to a broker who needs money for his client’s portfolios.
This actually involves some risks. Interest may build quickly, and the loan may demand payment at any time.
What Is The Meaning Of Loan Broker?
A broker is a person or an organization that acts as a middleman between two parties: the borrower and the lender.
When a deal is completed, a broker receives broker referral fees.
These service experts, business loan brokers, and mortgage brokers all have comparable tasks, with the former giving more lending options, such as business loans, equipment finance, and other types of financing.
In short, business loan brokers offer one-stop funding solutions for their clients’ financing needs. All these add up to the clients’ national business capital.
What Are Mortgage Brokers?
Like business loan brokers, mortgage brokers act as a middleman between potential borrowers and lenders.
The main difference is that mortgage brokers do not invest their own money.
Borrowers and lenders are matched according to the financial status of the former and the need for interest rates.
Mortgage brokers also collect the necessary documents from the borrower and submit them to the mortgage lender for approval purposes.
Mortgage brokers earn a commission once the transaction is sealed.
What Is A Personal Loan Broker?
Another type of service professional is a personal loan broker, who serves as a link between borrowers and lenders.
The borrower here takes out a personal loan to pay for various personal expenses such as house renovations, dream weddings, and so on.
The broker is responsible for finding the best financial products that meet the borrower’s requirements.
What Is Equipment Financing?
Equipment financing, such as SBA loans, is a type of loan business owners use to purchase items such as a photocopier or restaurant equipment.
These businesses must have equipment that has been upgraded or is in perfect condition.
Buying equipment outright will definitely hurt their cash flow; that’s why they apply for equipment financing instead.
Besides, having the right equipment will keep their small businesses running very well and manage the increasing demand.
This adds up to the clients’ national business capital.
What Are SBA Loans?
SBA loans, often known as Small Business Administration loans or equipment financing, are a type of loan that small firms use to stay productive.
All of these factors add up to the national business capital or the total cost of doing business.
SBA loans are usually needed to fund their operations.
Since these are small businesses, they’ll need all the help they can get to manage their business while making their financial status healthy, especially their national business capital.
SBA loans will definitely help them stay afloat and grow steadily.
Deeper Dive Into The Loan Broker Business
After learning a few important terminologies, You’re probably ready to dig deeper into this business world!
What Does A Business Loan Broker Do?
As previously stated, business loan brokers act as intermediaries between borrowers and lenders.
A network of lenders will supply you with the best available rates and terms for your borrowers if you decide to join.
Your job is to act as a matchmaker, bringing the right borrower and lender together to ensure a successful “relationship.”
More importantly, you will give them one-stop funding solutions to match their needs.
Unlike a bank banker, you will work for your clients as your source and give them the best possible rates and options from different providers.
In return, you will earn broker referral fees.
Who Will Benefit from Working With A Business Loan Broker?
These are the different groups who will benefit from working with business loan brokers:
- Small business owners who don’t have the time to search for the best SBA loans, equipment financing, and other business lines.
- Businesses whose business loans were declined by traditional lenders.
- Startup companies would benefit from business lines not offered by traditional lenders.
- Companies with poor credit as brokers can find lenders willing to grant them loans for wide business lines despite their bad credit record.
What Is The Loan Broker Network?
Remember how many small businesses hunt for alternate lending sources when their bank’s loan approval is denied?
It’s the role of the business Loan Broker Network to connect borrowers with these alternative lenders. In addition, it can offer a diverse range of services to its customers.
Loan Broker Network is a program that helps its lending partners become effective business loan brokers by providing them with the proper training and resources.
They boast of their infrastructure ready for you to start your business.
No need to start from scratch, so you can jumpstart your business immediately.
Just imagine, you will learn from Shark Tank’s Kevin Harrington and Philip F. Smith, a successful entrepreneur whose expertise is in lead generation.
Who Is Philip F. Smith?
Philip F. Smith has been a successful entrepreneur for more than two decades.
He boasts of being on the Inc. 5000 list of fastest-growing private companies from 2018-2020. Besides working for local businesses, he has done consulting jobs for huge corporations like IBM, Intel, and HP.
In 2018, Philip F. Smith started building on his personal brand and working out his passion for helping businesses scale up.
He partnered with a Shark – Mr. Kevin Harrington from the Shark Tank – to run Loan Broker Network.
He shares his expertise in entrepreneurship as a speaker in various speaking engagements and contributor to Forbes and Inc.com.
Philip F. Smith is truly impressive, and you can say that the Loan Broker Network is definitely in good hands.
Can I Make Money Online With A Loan Broker Business?
Yes, you can!
But…
There’s a lot that comes along with the loan broker business that many people struggle with.
Now, don’t get the wrong idea…
It’s not impossible to make money with Loan Broker Network or any other existing loan brokers, but if you’re gonna put in the amount of grueling work to do this business (which, trust me, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes.
The program that helped skyrocket many online businesses to over $40,000+ per month is so simple that making money really does become second nature.
How Much Is It To Join The Loan Broker Network?
To join them, you need to pay $597. And then you will have to pay around $3,000 – $5,000 to fast-track your way to success.
That is the price you will have to pay for working with celebrity entrepreneurs and joining a company with a proven track record. You just need to take advantage of it, and you’re good to go.
How Much Money Can You Make With The Loan Broker Network?
If you decide to join them, the beauty of working with the Loan Broker Network is that all your efforts get paid. You get about 10% commission for every approved loan you brokered.
Good, right?
This should really encourage you to go out there and get a lot of clients. This is actually a win-win situation – for you, the business loan broker, and your client, the borrower.
And if your client’s loan isn’t approved, you will still get $2,000. Awesome!
To Join Or Not To Join?
On the website of the Loan Broker Network, it says, “Tap into our existing infrastructure… We will also do the heavy lifting and CLOSE YOUR DEALS FOR YOU so that you can make MASSIVE COMMISSIONS. All we ask you to do is generate a lead, and we will teach you how to do that via free and paid marketing.”
If you join the Loan Broker Network, you get to be trained on how to be a successful business loan broker, especially in lead generation, work with celebrity entrepreneurs with proven track records, and utilize their efficient and proven infrastructure.
Your efforts are rewarded well, whether your clients’ loan applications get approved or not. Not a bad deal at all!
The catch? You need to invest heavily initially. If you have $5,000, no deadline to reach your national business capital, and a strong determination to win, joining the Loan Broker Network is for you!
If not, then you can always search for better alternatives.
Are There Alternatives To Loan Broker Network?
Yes, there are plenty of other business models to choose from if you want to pursue this making money online. Here are just a few:
Is The Loan Broker Network A Scam?
Time for the $1,000,000 question: is Loan Broker Network actually a scam?
I wouldn’t technically call it a scam, though others might.
It’s technically possible to make money with this program, so in that sense, it isn’t a scam.
No one is riding off into the sunset with your money, leaving you empty-handed… technically speaking.
But the second, more important question is: is Loan Broker Network actually worth the investment?
My honest answer is that for most people out there, probably not.
There are countless other business models that are proven & easily scalable, so why risk it for… not an incredibly huge payoff?
I’d rather have a program with thousands of successful students & plenty of room for others to join.
If you’ve followed my blog for long, you know I recommend a few different programs depending on your skills & goals.
My current top choice is becoming a Digital Landlord, because you have a proven, systematic path to 6-figures, and you can do it from anywhere you want.
I’ve got friends in there posting deals from the middle of the woods in a camper-van with their pet pig… which is cool.
What Is My Top Recommendation For Making Money Online In 2022?
Alright, time for me to get real with my lovely readers for a moment:
I’ve personally tried all of the major online business models:
- I’ve sold fidget spinners through Amazon FBA
- I’ve dropshipped a toilet bowl putting green on Shopify
- I’ve sold women’s health supplements via Clickbank affiliate marketing
And I made money with all of them, so trust me when I say: there is no “perfect” business model.
THAT BEING SAID: I would at least recommend you implement something that is tried and true, because I’ve seen TOO MANY people (including friends and family) get burned by stuff like Loan Broker Network.
They come out of left field with some random idea, make it seem attractive, and then make themselves a quick buck by luring in unsuspecting people.
I’m not saying Loan Broker Network itself is a piece of trash, I’m just saying you need to be very, very careful.
This is a big reason why I only recommend proven, tried and true business models, like Lead Generation & Ad Agencies.
There are a bunch of programs out there that teach you those skills, but my top choice is the Digital Landlords program.
Why? It has proven leaders with their own 7-figure businesses implementing exactly what they teach you.
I’ve also got over a dozen personal friends in there, so I feel comfortable telling you it works.
Whether you’re a complete newbie or have been around the block before but have never had that “big win” to propel you forward, their program works.
Here’s why:
1)Time: If you’ve got a spare hour or two each day, you can do this. If you want to drop everything and go all-in, you can do this. More time obviously means faster results, but even putting in a few hours per day is enough to see real success.
And because of that flexibility, you don’t need to trade your time for money. Once the income starts, it’s recurring (for the most part).
That means you can take a month off, travel the country, pursue a passion project, chill on the beach, or charter a boat across the world.
But you can only do that once you’ve created an income stream that doesn’t require YOU to be there all day, every day.
2)Big Margins: With most businesses, you’re often going to have really slim margins. That means you need to hit a serious scale to make serious money.
Being a Digital Landlord, your profit margin is nearly 100%. Watch here to learn how.
Just a reminder: these Digital Rental Properties are worth (at a minimum) $500/mo in semi-passive income. And each time you create another one, your income increases, and the effort to create the next property decreases.
Best-case scenario, you have properties bringing in over $3,000+/mo on “auto-pilot.”
3)It’s Effectively Copy-Paste: Here’s my favorite part: once you have your first Digital Rental Property up, you can literally copy-paste another version of it and find another willing “renter” in a few days. DOUBLING your income doesn’t get much easier than that…
If you wanted to double your income with loan broking, you would need to be the middleman between the borrowers and the lender, and I can guarantee you, that’s a lot harder than a few clicks & a phone call.
4)You’re Helping REAL People: My biggest gripe with loan brokers is that you’re basically only helping yourself.
But when you’re a Digital Landlord, you’re helping solve REAL problems that people are ASKING for help with:
Small local businesses around the world need one thing: customers. Without them, their business would fall apart. If we can provide those customers, they’re going to be really happy – and they’re going to pay you for it.
You’re helping a struggling mother or father put food on the table for their families, put their kids through college, or simply live life a little bit more comfortably.
Having this type of impact on the world is what will help you sleep soundly at night.
So, the rest is up to you. You could keep looking at other off-the-wall business models like Loan Broker Network and maybe hit it big one day.
You could keep researching and researching for the next few months (or few years), never making a concrete decision.
OR, you can look deep inside, think about those dreams, hopes, & desires, and make the decision to ACTUALLY make it happen, just like it has for thousands of other students before you.
Making a fortune while actually helping real people that need it.
If this sounds like you, click here to see how it all works.
