What is a Commercial Loan Broker? What do they do?
A foundational overview explaining what commercial loan brokers are, what their daily role involves, and how they serve as intermediaries between borrowers and lenders.
Watch this Commercial Loan Broker Training video on commercial loan brokering. View on YouTube.
What you will learn in this video
- What a commercial loan broker is and how the role works
- How brokers serve as intermediaries between borrowers and lenders
- The daily responsibilities of a working broker
- Types of loans commercial brokers typically handle
Frequently asked questions
What is a commercial loan broker?
A commercial loan broker is an intermediary who connects businesses that need financing with lenders that provide it. They earn commissions on funded deals and handle the application and packaging process.
What does a commercial loan broker do day to day?
Brokers prospect for new clients, evaluate financing needs, package loan applications, submit to appropriate lenders, and manage deals through closing. This video covers the full role.
How is a commercial loan broker different from a bank?
Brokers work with multiple lenders to find the best fit for each deal, while banks can only offer their own products. Brokers offer more options and flexibility for borrowers.