How to Start a Commercial Loan Broker Business

Being a commercial loan broker is one of the emerging careers today. Starting a commercial loan broker business is quite easy actually as you will serve a middle man for borrowers and lenders.

This business offers more than prestige and power as this can be a good money making activity. There are certain steps you need to follow when venturing in this kind of business.

Being a commercial loan broker is becoming a popular career nowadays. When you become this kind of broker, you will serve as a middle man for borrowers and lenders. Your main responsibility is to help any person who is going to borrow money in selecting the best loans when it comes to attaining his or her financial goals. Being a commercial loan broker is not that hard as compared to any other kind of broker. You mainly secure loans for businesses so you are not bound by any institution related to lending. You can also seek the best loans that are perfect for your clients. Being a financial broker offer more than just prestige and power, it is a good money making activity. There is a huge market for this business because everyone at some point needs to borrow money. If you are thinking of starting your own commercial loan broker business you need to follow certain steps.

  • The important thing is to get securities licenses. Starting a commercial loan brokerage firms is just like opening a new business. You need to secure certain licenses to become legal. You need to be considered as a securities firm before you can sell one. In order to obtain a license, you need to pass a licensing exam as part of their requirements. It is advisable to take a course related to the industry to help you pass the exam.
  • Sometimes before you start to open your brokerage firm, you need at least a few months to train. There are a lot of brokerage firms that are willing to hire new brokers. Take this as an opportunity so that you can learn the in and outs of the trade.
  • As part of the basics, remember to do well in your interview. Jobs in the financial sector are known to be conservative. It would be better to play by their rules so that you will get a chance to be selected.
  • If you don’t have any educational background related to this field, it would be advisable if you read some journals and magazines regarding it. It pays to have knowledge on what you are dealing with so that you will become successful.
  • Normally commercial loan brokers work for a big company. Since you opt to be an independent contractor prepare to shed out money when it comes to your own business. You need to cover your own start up costs.
  • You need to strategize your own marketing plan in order to generate clients. Good marketing will be able to let people know about your service. It is good that you create your own social network so that your client base will be broad.
  • Remember that being a commercial loan broker, you earn profits through commission. Before venturing in this business, make sure that you have a background on sales. In this career, money might be a little tight but once you progress, you will earn more profits than ever.

79 Comments

  • Don Deavens said on May 26, 2009
    Please provide more information.
  • Gloria Guidry said on October 7, 2009
    I am wanting to start a website for mostly used auto loans at first to try being a loan broker. How do I get connected with companies who take credit risks for used cars that will pay me a small percentage of the loan?
  • Gloria Guidry said on October 7, 2009
    See, we sale used cars, most of our customers are looking for financing. I came across this website that you fill out the application for a loan and it is spread nation wide for you to be accepted, so it read. Anyway, I was wondering how I could make my own website such as this for our customers to fill out for our cars, let alone start myself a business doing this for my own money instead of having to ask my soon to be X for money all the time
  • Bablu kumar roy said on December 17, 2009
    respected sir/madam, kindly provide me that where would i get the training for commercial loan broker
  • bill said on June 7, 2010
    This is the first time I have heard that you need a securities license to be a commercial loan broker. I have a series 7 so it is not a big deal but there really is no relation between arranging commercial loans and the investment license. Please direct me to the law that requires this.
  • Rizal said on July 15, 2010
    just started a consultation business and it is not doing well for the past 2 months. i really need help coz i am accumulating debts as we speak. my business is in singapore. initially thought in land investment business since i have the experience but apparently now it is not such a good idea. need help. tnx
  • Keath said on August 3, 2010
    I have background in secondary finance through an auto dealership, and I would like to become a commercial loan broker. What companies offer training and programs? K.G. Evansville, In.
  • Thabang Sejosengoe said on August 16, 2010
    We want to start a Personal Loan Lending business in East London, South Africa. I want all the help I can get, the market is right, I just want assistance in starting up this as soon possible.
  • Saurabh said on August 17, 2010
    I am residing in Delhi , India. Please provide me more information and contacts of some existing persons in this line in Delhi, India Mobile No 9958055077
  • marlin said on January 6, 2011
    Please can you advise me how i get started to set up my own broker for personal loans and bonds finance,I'm currently based in Durban South African.
  • jackson targan said on January 25, 2011
    city pune country india. hi am name is jackson and am looking for some information to start a loan broker company from home.pls let me know if u have any information to share...
  • satya said on January 28, 2011
    I am a person very much related to business. I would like to a commercial loan broker. kindly give me proper guidance . how to approach lender's market . I am very much in touch with number of borrower's thank u sir
  • Arun Babu said on February 15, 2011
    I would like to commence commercial loan broking business. Kindly let me know some renowned brokerage firms willing to hire new brokers.
  • Daniel said on February 23, 2011
    Interested in starting up as a loan broker, from Johannesburg South Africa. Please send details on where or how to start
  • TASHEBA said on April 1, 2011
    I am commercial Broker and I want to international what are the steps for me to take.
  • lan t said on April 12, 2011
    I really want to become a loan broker or a independent loan agent in south africa limpopo province. can you please help
  • Noluthando said on April 24, 2011
    I would really like to start my own commercial loan broker business. I am in Cape Town, South Africa
  • logan chetty said on July 16, 2011
    I am based in nelspruit, mpumalanga, south africa, please provide me more details on starting a loan broker business or becoming an agent, where and how to start
  • raj jaiswal said on August 13, 2011
    i am writing from pune, india. i want to become a Loan Broker as part time income source. i am economics graduate with MBA(Mktg) along with 7 yrs exp in insurance domain. Kindly suggest.
  • johannes nhabanga said on August 13, 2011
    I am in south africa Johannesburg and have much expertise and Fence in the personal loan. I have a certificate from the services seta. Now I want a license and don't mind to sit for an exam.Please advice.
  • Keith said on November 9, 2011
    Location: Tennessee, USA. I would like to start a business loan brokerage. I have over 30 years experience as a bank business loan officer. I need help to get started, such as contacts etc. Can you provide assistance?
  • vusi said on November 25, 2011
    Please provide more info,I am in the financial business and want to expand
  • Sumit Goyal said on January 10, 2012
    Hi, I am residing in Faridabad, Haryana, India. I want to become a LOAN AGENT. Kindly provide me the details ASAP. Regards, Sumit 9911451813
  • tsholofelo said on January 13, 2012
    am based in gauteng germiston and would like to become an agent to companies that lend money especially for cars and businesses. if u know of any, please let me know
  • Shaida said on January 25, 2012
    I would like to start up a short term finance company offering short term loans how do i go about obtaining a license for this
  • Petro van Heerden said on March 27, 2012
    I'm in Limpopo,South Africa and I want to become a loan broker, I've got marketing background on the mines but want to start my own money loan broker business. Please can you help me to do this!
  • sanjay jaiswal said on April 8, 2012
    Sir, I am in Kolkata, WEST BENGAL, I want to work as a loan broker , at present I am working as a stock sub broker, will you please give me your valuable guidance to the business properly .
  • Kobus Mienie said on June 6, 2012
    HI, I am trying to become an international loan broker can anybody help me. Please contact me asap
  • irvn said on July 8, 2012
    hi my name is irvin I work as an independent loan agent I want to register as loan broker advise how do i go about it.
  • andre mofokeng said on July 31, 2012
    I'm based in johannesburg south africa and need further information on licenses.
  • Irvin Shai said on August 22, 2012
    I am based in Johannesburg and would like to become a loan broker. please advise on how to register with the financial institutions and the licensing processes?
  • kagiso said on September 30, 2012
    Good day i want to apply legally to open a business as lender broker or cash loan. So what is the channels to start because i have started so i want to have papers. From north west in rustenburg. Thanks I will be happy if u came back to me as soon as possible. Fk Moearne, 0738235975
  • Peggy said on October 11, 2012
    Free style babyshop trading, south africa, johannesburg, orange farm. i need your help to be loan broker
  • Les said on October 17, 2012
    It is very difficult to become a loan broker associated with the so-called big companies. Consider becoming an affiliate.
  • Lionel Dowling said on October 31, 2012
    Good day. I have a financial services business in Durban, South Africa and would like to become an agent for you. I am soley responsible for over R50000000 in personal loans for Nedbank over the past for years. Please contact me urgently, Kind Regards, Lionel Dowling. 0824775229
  • Gizelle said on November 5, 2012
    how do i apply for a securities license to become a commercial loan broker
  • lenny said on November 5, 2012
    hi pls help I need info 2 start a pawn brokerage company, wld be appreciative if u cld help
  • Richard said on November 10, 2012
    I am in Piet Retief Mpumalanga and would like more info in a being a loan broker agent and where do I get the course
  • amogelang said on November 28, 2012
    I AM IN RUSTENBURG I WANT TO OPEN A COMMERCIAL LOAN BROKER PLEASE CONNECT ME WITH THE COMPANIES THAT CAN GIVE ME TRAINING, AND HOW TO GET SECURITY LICENSE. MY CELL +27731977481
  • Ramesh said on December 5, 2012
    How to become loans agent?
  • Jenny Kisten said on December 11, 2012
    How do I start a loan brokerage business. Must I be registered or can I just start
  • Nolubabalo said on January 13, 2013
    I'm in Cape Town, South Africa. I've red about how to start a commercial broker in your website. What I want to know is how do I register for securities as I already own a consulting company. Where do I go or which websites can I check.
  • Michael kasia said on January 19, 2013
    My business is not yet established. but i am planing to locate it in burgersfort mpumalanga south africa, i asking you to help me get my license
  • Reginald said on January 21, 2013
    Hi I would like to add this business to my existing one as i am a Doing life insurance in secunda mpumalanga, its a fast growing town.
  • Somenath Chowdhury said on March 13, 2013
    Kolkata , WB , India. which license have to obtain to start commercial loan broker firm?
  • Gladys Sekwate said on March 15, 2013
    Hi i am already in the financial consulting business, now how do i get hold of the securities license and how do i get loan for starting a commercial business.
  • Andy said on April 4, 2013
    hi i'm a SA citizen, i want to start a truck business but my main problem is capital, so i am pleading for a loan of about R400 000 which i assure u that i can repay it in 10 months or less or i can even double the amount depending on our agreement. any lender interested in helping me please contact me@0733844031 or pleasureselepe@gmail.com
  • Cherise said on April 15, 2013
    good day, please provide me with more info of how to get connected to all the lenders to provide personal loans. CPT SA.
  • cam said on April 16, 2013
    hi my name is cam i'm in daveyton and i want to know which steps to take in order to start a money lending business. how do i make it legal.
  • Pardip roy said on April 17, 2013
    I want to be a loan broker. plz help me. I am in Bankura .west Bengal. India
  • MARTIN CHINNAPPADAS said on April 23, 2013
    Good day sir, I could start a loan shop in TAMIL NADU STATE IN INDIA IN VILLUPURAM DISTRICT AT VILLUPURAM PLS ADVICE ME WHERE I CAN DO THE COURSE & GET THE CERTIFICATE
  • Graeme Walker said on April 30, 2013
    Hi I'm in the pacific region, Lae PNG. I have a good network of expat clients looking for loans both personal, business and commercial, can you assist. Graeme
  • Donald Tapper said on May 11, 2013
    I am an Independent Consultant specializing in Business and Commercial loans, Legal Service memberships, and several opportunities for anyone looking to make extra money or wanting to make a career move. Send email to tappmedia@gmail.com
  • Benjamin luiz said on May 17, 2013
    What could be the best interest rates to start with like in uganda? Luiz
  • willie said on August 6, 2013
    Hi, I am a young driven individual wanting to start a cash-loan business can anyone please assist me on how to begin my journey to become a legal cash loan company, I am right at the beginning of my journey but saw a great market so I want to take the opportunity and make it worth my while but I want to do everything legally so that there is no future hang ups. Willie van Tonder
  • S Saayman said on October 3, 2013
    Kzn,Durban,South Africa. Have insurance brokerage. Plz direct me in the correct direction to obtain license for loan brokerage
  • MAUNDA A SHARIF said on October 8, 2013
    I am Maunda and i want to start a money lending business. Please advise me on how to take it forward. Thank.
  • PIETER NEL said on October 8, 2013
    GOOD DAY PLEASE PROVIDE ME WITH MORE DETAIL ON HOW TO BECOME A BROKER. THANKS PIETER NEL 0768474152
  • keketso Marole said on November 20, 2013
    Hi there, I need to become a broker or agent to sell loans.
  • Cgo said on January 18, 2014
    I want to start cash loan business where can i get license
  • Alta said on March 26, 2014
    Hi please e-mail me more detail of how to become a Personal loan Broker. I have done my NCA. Are currently doing vehicle finance but want to know what exams and accreditation I need to do all types of other loans as well.
  • BENOUDINA AISSA said on June 20, 2014
    Importer in medical material and consumable goods in constantine (Algeria) I am in the search of a financing for the development and the modernization of my company. I need your financial assistance for the purchase of the equipment of the modern imagery Such as: SCANNER CT, I.R.M, ECHOGRAPH and CONVENTIONAL RADIOLOGY. I thank you for your good collaboration. Best Regards. EURL BENOUDINA AISSA, IMPORT-EXPORT BP 406,CITE DU 20 AOUT 1955, CONSTANTINE-25000- ALGERIA, GSM:00213557472594, TEL: 00.213.31.56.89.32 FAX: 00.213.557.47.25.94, EMAIL: aissa_bendz@yahoo.fr
  • amelia makae said on June 26, 2014
    Tonero and sons investment pty from south africa ,gauteng,kempton park
  • Orlando Alvarado said on October 4, 2014
    Freedom Equity Group, ORLANDO ALVARADO #16129(you will need this number as to who referred you)....LETS MAKE SOME MONEY!!!
  • Miss M said on October 22, 2014
    Hi I would like to start my own loan business where I would act as a middleman. How do I go about it? I'm based in Cape Town
  • kiran said on November 10, 2014
    Hi, in kiran from hyderabad. i earlier worked for a housing finance company for more than 10years. unfortunately i met with an accident and i got one year gap in this field. now after a such long gap i would like to start up my own in this field. plz suggest me how to start on my own. thnx
  • Dan said on January 7, 2015
    Hi m dan interested in starting an auto money loan broker business so pliz provided me with information on how to get the security license n training
  • shehzad iqbal said on January 25, 2015
    My name is shehzad iqbal from pakistan peshawar, i need a loan i will start a small business in my city, plz loan me any one, $150,000. plz contact me(shehzadiqbal4650@gmail.com)i am waiting plz.
  • olushola Ikuomola said on February 3, 2015
    I want to become an international loan broker
  • Ali said on February 15, 2015
    I'm looking for international loan brokers. bayhanali01@gmail.com
  • thanasis arvanitis said on June 25, 2015
    i am from Greece and i try to find 3.000.000 euro to make a new company. if you are interested send me an answer
  • Tlale Paul Masimong said on August 5, 2015
    I am in Pretoria, South Africa and I am interested in loan brokerage.
  • dathathreya raju bm said on October 2, 2015
    I am very much interested to become independent in business and to become the boss of my own , so kindly help me to start a personal loan provider agent in bangalore, not commercially but wanted to start soon please help me out
  • avinay singh said on November 2, 2015
    Portland Oregon usa. i have tons of small businesses liking for long and short term loans. Contact 5037534601
  • Jeremiah Dovico Radebe said on January 5, 2016
    I want to start a loan broker business. I don't know which documents to have to start a business- If there is a marketing slide please email it to me
  • vikram said on February 7, 2016
    I am working as a DSA of kotak mahindhra and want to be a broker of many companies.How can I do this.
  • Tintswalo said on March 5, 2016
    Can you help me with fifty thousand i want to hire an office for broker i am south african from limpopo phalaborwa.any one can assist me
  • sourangshu said on July 25, 2016
    Hi myself Sourangshu I want to start loan business as a broker. kindly mail me.
  • ravi said on January 16, 2017
    hi my self ravi bankalagi. i need to start loan broker by putting my own office please suggest me by mailing

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