Broker in a Box

So you want to learn how to start closing business loan deals as a broker?

The startup costs and resources needed are very low but the earning potential is very high! 

With that said, we don’t promise equal results. The differing backgrounds and experiences of people determine how fast they start, but hard work and perseverance will help get anyone to a successful place.


Business Lending Ecosystem

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1) What Does A Loan Broker Do

2) How To Setup The Business


The following are the steps to take to get a business loan brokerage off the ground to start earning the income you desire. 

We break this down in simple terms to push through the analysis paralysis that can affect many people before they start on a challenging journey, whether that be a new job or a tough diet.

It’s really important to understand that taking just a first action will lead to more actions if you are committed to it. 


Being a successful business owner is full of these types of behavioral challenges so it’s better you get used to it. Learn to overcome any fears right away when starting out in the alternative or commercial finance industry. Get comfortable with being uncomfortable.


Steps to take to start generating deals:


  • Use and study the Broker Lean Canvas provided below. Follow it until you know enough to make adjustments. 

    • If you are thinking you need your own lengthy Business Plan, it typically isn’t worth it and you likely will waste weeks before it’s done or months before you generate any income. Start quickly, small and lean. Follow guidelines of what works.

  • Starting from home is perfectly acceptable, you just need these assets: a laptop, cell phone, a free CRM, and lists of businesses to call, text, and email(which can be found free online). 

    • However, you need to marshall resources; meaning, bundle everything that you feel you will need after reading this into an organized format, i.e. people you know in the industry, capital available to spend, business owners in your network, referral sources, etc.

  • You need a company name. Choose a ‘Doing Business As’(DBA) name to use. If you are going to file for an LLC( contact CPA or attorney for advice) right away, you can use the DBA name or a separate name. 

    • However, you can get Start as a Sole Proprieter but it’s recommended that you register as a legal business entity before accepting your first application to protect yourself.

      • Search business names on the Secretary of State website where you plan to file the business entity.

  • Once formed LLC, apply for an EIN from

  • A business loan application that business owners will fill out or you will have to create an electronic version on your website. We provide a PDF application free that you can use by PDF or also send via software to simplify the process for the merchant.

    • Other documents needed for some loan products would be a Debt Schedule and Personal Financial statement. 

  • ACH or Check Processing software to collect optional Professional Service Fees. We provide options for vendors to use.

  • Open a business bank account to keep everything separate. Free accounts include Bluevine and Novo among others that are listed on our site

  • Build a simple, inexpensive website or have one built for you. We can refer you to website business financing specialists. You can upgrade and invest more into it as capital becomes available. Key points are to look legitimate, capture leads and applications.

  • Start a marketing system and funnel of generating leads from various channels including your website as you use SEO to get traffic, social media accounts, Google Ads, collecting emails and building lists as well as purchasing targeted data from different lead providers. 

    • Make sure all leads purchased are scrubbed against all TCPA laws and any other telemarketing regulations.

  • Once you have Funders and Lenders for products that you will start off selling, then you are ready to start contacting business owners. This process would be adjusted for Real Estate backed loans. We won't cover that process now because we don't want you to be overwhelmed which can cause analysis paralysis. We believe the short-term financing products such as MCA, loans, lines of credit, equipment leasing, and Invoice factoring offer a simpler place to start.

    1. The process starts by getting in contact with business owners

    2. Get filled out application with corresponding other documents like bank statements, invoices, equipment purchase orders, tax returns, etc...

    3. Submit application package to Funders/Lenders

    4. Receive decision(s): Offer or Decline

    5. Pitch Offer(s) to merchant

    6. Close Offer, send contracts to merchant

    7. Merchant signs contract, you receive it.

    8. Collect any other stipulations(documents) needed to close funding

    9. Merchant talks to funder/lender to finalize approval

    10. Funds sent via ACH or Wire to merchants business bank account 

    11. You are paid your commission within 1-7 business days typically

    12. Follow up with merchant regularly but especially when approaching 50% paid in.

    13. Contact merchant for Renewal deal.

    14. Rinse and repeat!

  • Tips for website:

    • Do have it proofread by several people, use Grammarly, and possibly a professional writer.

    • Make sure its simple to gather emails and inquire about funding

    • Do not mislead or lie with things like “as seen on CNBC”, “ 1 Billion funded in the last 6 months”, or fake Trustpilot or other reviews and testimonials.

    • Phone number is visible at the top and bottom of the page. If you are hiding phone numbers and only want to be contacted via email you are not serious about growing your business. 

      • Also if you hide your email more than likely it can still be found embedded in the site with email hunter extensions.

    • The ‘3 step’ funding process graphics are on almost every broker or funders website, be different.

    • Include all the products you will sell even if you are not ready to sell them. You will figure it out.

  • Tips for leads:

    • Start with free marketing and promotions. Tell everyone you know what you are doing. Create at least 3 social media accounts, posting consistently even if it means once per day or week.​ Read our blog on Lead Sourcing

  • Sign up to become a member so that once you start closing deals you can leave Reviews for your funding partners and they can so the same once you add your business to our listings.

Documents Needed

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  • Funding application - is the form that business owners fill out and you submit to lenders

  • Debt Schedule form - is used to view business financial obligations in an organized format

Get Loan Broker Lean Canvas Model:
Just $19.99, automatically emailed to you.

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Broker Lean Canvas is an incredibly valuable tool for all which outlines the business model information you need to start or grow your early-stage Business Loan Broker company. It is a must-have for anyone serious about reducing the time it takes to build and grow their

loan brokerage!


Click Next Page for #3, The Loan Products That You Can Offer