setting up shop
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  1. #1

    setting up shop

    Hello everyone,

    My partner and I finally decided to pull the trigger and setup a broker shop. I would greatly appreciate your advice and things to look out for.

    We are trying to stay away from the backdooring lenders any of them you can suggest I stay away from?

    Thank you so much

  2. #2
    Senior Member Reputation points: 226125
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    The first thing to do is to learn to use the "search" on the top right. We literally discuss this every other week or so. Compile a list and then post it here, and ask about experience of specific places. These guys change names regularly and their banks apparently don't care.

  3. #3
    Senior Member Reputation points: 15523
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    Quote Originally Posted by smurf View Post
    Hello everyone,

    My partner and I finally decided to pull the trigger and setup a broker shop. I would greatly appreciate your advice and things to look out for.

    We are trying to stay away from the backdooring lenders any of them you can suggest I stay away from?

    Thank you so much
    Do you have experience in the industry? Have you worked as a broker yourself? It sounds like maybe the answer is no because then you would already have an idea of funders that you like and don't like from those you have funded deals with in the past. This is going to be a very tough industry for you to navigate without at least someone on your team who has been around for a while. Or if you have an extremely large war chest and can spend your way into the all the right answers. Because make no mistake as a new shop especially you are heading into battle.

  4. #4
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    Quote Originally Posted by smurf View Post
    Hello everyone,

    My partner and I finally decided to pull the trigger and setup a broker shop. I would greatly appreciate your advice and things to look out for.

    We are trying to stay away from the backdooring lenders any of them you can suggest I stay away from?

    Thank you so much
    You are going to need some good tech. We are dedicated to the finance sector and offer a ton of products all under one roof.

    https://www.centrexsoftware.com/

    Cheers,

    Trey Markel
    (888) 622-5810
    tmarkel@centrexsoftware.com
    www.centrexsoftware.com

  5. #5
    Senior Member Reputation points: 72398 Olderguy's Avatar
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    2,244

    Reach out if you have prospects outside the MCA arena and need help in any of those areas.

    SBA, Equipment, personal loans, any real estate, asset based lending, etc.
    Steve Benjamin
    Professional Business Loans

    522 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

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