can one broker small business loans to banks like a mortgage broker do with home loans?
Tuesday, January 5th, 2010 at
4:43 am
I am a mortgage broker and want find out how I can fund small business loans too. can I broker them to banks?
Tagged with: banks • broker • Business • Home • like • loans • mortgage • Small
Filed under: Small Business Loans
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Business loans are a lot more complicated then mortgages. Take a business course at your local community college before you try this.
Broker, no. Refer and get a referral fee, yes.
I have sold money in one form or another for 30 years. and I clearly remember when the mortgage banking industry started down the road to hell, which is always paved with “good intentions” from politicians, that was starting in 1994, and the states i do business in like Ohio arrived in Hell, about 1998.
There are still today 4 times the number of mortgage professionals than are needed, and only 80% are incompetent as opposed to the 12 fold excess of “real estate professionals”, of whom 97.5% are full blown flaming utter IDIOTS.
now ignorance, is a curable condition, but stupidity is ingrained forever.
the answer to your question is yes, but it is much like a which doctor trying to do brain surgery.