Loan Broker Network Reviews: 10 Things You Should Know About Philip Smith! (2022 Update)

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By: Scam Risk - Expert Reviewer

Loan Broker Network Reviews: 10 Things You Should Know About Philip Smith! (2022 Update)

Table of Contents

Will You Take Advantage Of The Booming Lending Industry?

Having your own business sounds sexy but going through the process of having one, let alone making it successful, is not as sexy as it sounds.  

But even at this time of the pandemic, the lending industry, believe it or not, is actually booming! 

Unfortunately, only a fifth of the small businesses applying for a loan gets approved by banks considering they’re the ones needing that loan. 

So, they’re easy prey for some business loan scams as they try to build their national business capital.

So what will these small businesses do? 

They will look for other alternatives to get that loan and run the risk of bumping into a business loan scam in the process, which brings us to this Loan Broker Network review. 

Is the Loan Broker Network heaven-sent not just to these businesses but also to those who are seeking alternative ways to earn money?  

To give you a glimpse before we go further, here are the things that I like and do not like with the Loan Broker Network.

Now, I want to be completely honest here, so…

DISCLAIMER:
This Loan Broker Network review has been thoroughly researched with information and testimonials that are available online to anyone in the public. Any conclusions drawn by myself are opinions.

This review will go over The Loan Broker Network to see if it really is the best loan brokering course out there.

You’ll learn whether loan brokering is the right online business for you.

And at the end, you’ll find answers some of the most frequently asked questions regarding Loan Broker Network and loan brokering in general.

But most importantly, you’ll see the exact system many others have used to build their own internet marketing business to over $40,000 a month in mostly passive income.

This system made them swear off loan brokering for good, because it uses some of the same skills but in a much more powerful and profitable way!”

Loan Broker Network Review:

Loan Broker Network Pros:

  • Proven track record: $1B + funded businesses most likely mean the system actually works.  The numbers speak for themselves.
  • Learn from celebrity entrepreneurs Kevin Harrington from Shark Tank and Philip F. Smith, a seasoned entrepreneur: This is a no-brainer!  Be the best by learning from the best.
  • No effort wasted: You get paid for your efforts. Get a 10% average commission for every funded deal and $2,000 for every declined deal.
  • Lead generation training provided: You will be trained on how to tap quality leads.  All you need to do is apply them well. 

Loan Broker Network Cons

  • Expensive: Pay $500 to join and pay additional thousands of dollars to fast track your way to success.  Though this is reasonable given the wealth of information and training you will get, there are still far better options without paying that much.

What To Expect From This Loan Broker Network Review?

This review will go over the business Loan Broker Network to see if it really is the best online business for you.

And at the end, you’ll find answers to some of the most frequently asked questions regarding the business Loan Broker Network and loan broker business in general.

But most importantly, you’ll see the exact system many others have used to build their own internet marketing business to over $40,000 a month in mostly passive income. 

This system made them swear off this business for good because it uses some of the same skills but in a much more powerful and profitable way!

Brokering 101:

Before we go any further, let’s familiarize ourselves first with a number of terminologies to grasp what these service professionals do.  

What Is A Broker Loan?

A broker loan refers to the loan that needs to be paid by the borrower to the lender within the agreed period of time. 

This is also referred to as a call loan or a demand loan that is given to a broker requiring capital for his client’s portfolios.  

This is actually risky.  Interests may accumulate rapidly and the loan may be required by the lender at any moment.

What Is The Meaning of Loan Broker?

Simply put, a broker refers to an individual or a company that serves as a middleman between two parties: the one borrowing money and the one loaning the money. 

A broker gets broker referral fees when the transaction materializes.

These service professionals, business loan brokers, and mortgage brokers have similar responsibilities, the former providing more lending solutions like business loans, equipment financing, and many others.  

In short, business loan brokers offer one-stop funding solutions for all financing needs of their clients.  All these add up to the clients’ national business capital.

What Are Mortgage Brokers?

Mortgage brokers, like the service professionals business loan brokers, play as the middleman specifically between the mortgage borrowers and mortgage lenders. 

The only difference is that mortgage brokers do not use their own funds and resources.  

They match borrowers and lenders in terms of the former’s financial situation and interest-rate needs.

Mortgage brokers also collect the necessary documents from the borrower and submit them to the mortgage lender for approval purposes.

Mortgage brokers earn a commission once the transaction is sealed.

What Is A Personal Loan Broker?

A personal loan broker, another service professional, acts as the middleman between the borrowers and the lenders. 

The borrower here borrows money for various personal purposes like home renovation, dream wedding, etc., hence the name personal loan.   

It is his responsibility to find the best financial products that meet the borrower’s requirements.

What Is Equipment Financing?

Equipment financing, like SBA loans, is one of the loans that business owners apply for to help in their businesses like a photocopier or a restaurant oven. 

It is important for these businesses to have upgraded or well-functioning pieces of equipment.  

Buying equipment outright will definitely hurt their cash flow that’s why they apply for equipment financing instead. 

Besides, having the right pieces of equipment will keep their small businesses running very well as well as manage the increasing demand. 

This adds up to the clients’ national business capital.

What Are SBA Loans?

SBA loans or Small Business Administration loans, just like equipment financing, is a type of loan that is availed by small businesses to keep them very productive. 

These all add up to the national business capital or the total investment cost in the business.   

SBA loans are needed usually to fund their operations. 

Since these are small businesses, they need all the help they can get to manage their business while making their financial status healthy, especially their national business capital. 

SBA loans will definitely help them stay afloat and grow steadily. 

Deeper Dive Into the Loan Broker Business

After learning a few important terminologies, we’re ready to dig deeper into the world of this business should you be interested to venture into this.  

What Does A Business Loan Broker Do?

As mentioned, business loan brokers are the middlemen between the borrowers and the lenders. 

If you choose to be one, you will provide borrowers with the best possible lending rates and terms from a network of lenders.  

You will work like matchmakers – matching the right borrower to the right lender with the goal of making that “marriage” work out well.

More importantly, you will give them one-stop funding solutions, as well as stop funding solutions, offers that match their needs. 

Unlike a banker who works for the bank, you will work for your clients as your source and give them the best possible rates and options from different providers. 

In return, you will earn broker referral fees.

Who Will Benefit Working With A Business Loan Broker?

These are the different groups who will benefit from working with business loan brokers:

  • Small business owners who do not have the time to search for the best SBA loans, equipment financing, and other business lines.
  • Businesses whose business loans were declined by traditional lenders.
  • Startup companies would benefit from business lines not offered by traditional lenders. 
  • Companies with poor credit as brokers can find lenders who are willing to grant them loans for wide business lines despite their bad credit record.

 

What Is The LoanBrokerNetwork?

Remember that a lot of small businesses look for alternative lending sources when their loan approval gets declined by the bank? 

The business Loan Broker Network is the matchmaker to those alternative lending sources.  It can provide a wide range of business lines that will benefit its clients.

Loan Broker Network is a program that provides its lending partners with the right training and resources so they can be successful business loan brokers. 

They boast of their infrastructure that is ready for you to start your business. 

No need to start from scratch so you can jumpstart your business right away.   

And just imagine, you will learn from Shark Tank’s Kevin Harrington and Philip F. Smith, a successful entrepreneur whose expertise is in lead generation.

Who Is Philip F. Smith?

Philip F. Smith is a successful entrepreneur for more than 2 decades. 

He boasts of being on the Inc. 5000 list of fastest-growing private companies from 2018-2020.  Besides working for local businesses, he has done consulting jobs for huge corporations like IBM, Intel, and HP.  

In 2018, Philip F. Smith started building on his personal brand as well as working out his passion to help businesses scale up. 

He partnered with a Shark – Mr. Kevin Harrington from the Shark Tank – to run Loan Broker Network. 

He shares his expertise in entrepreneurship as a speaker in various speaking engagements as well as a contributor to Forbes and Inc.com.

Philip F. Smith is truly impressive and you can say that the Loan Broker Network is definitely in good hands.

Can I Make More Money Online In Loan Broker Business?

Yes, you can!

But…

There’s a lot that comes along with the loan broker business that many people struggle with. 

Now, don’t get the wrong idea… 

It’s not impossible to make money with Loan Broker Network, or any other existing loan brokers, but if you’re gonna put in the amount of grueling work to do this business (which, trust us, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes. 

The program that helped skyrocket many online businesses to over $40,000+ per month is so simple that making money really does become second nature.

Is The Loan Broker Network Legit Or A Scam?

The Loan Broker Network is not a scam.  It is a legitimate company despite the varied Loan Broker Network testimonials there are online. 

It is entirely possible to build a profitable, successful loan broker business especially with a lot of business loan deals available… But there are better ways to build a business other than with the Loan Broker Network

Our #1 pick proves this.

Because, unlike the Loan Broker Network, even with its business loan deals, it actually provides real proof of real success from real people as recently as a few days ago.  But, when it comes to building a business, you have plenty of options.

And even if you’re dead set on becoming a business loan broker, you’ve got way better options than the Loan Broker Network.  You can also check trending searches relevant stores for more options.

Keep in mind, we don’t get paid to promote any of the programs we review. We personally think the loan broker business is a great business model, but you could end up leaving way too much money on the table. 

How Much Is It To Join The Loan Broker Network?

To join them, you need to pay $597.  And then you will have to pay around $3,000 – $5,000 to fast track your way to success.

That is the price you will have to pay for working with celebrity entrepreneurs and joining a company that has a proven track record already.  You just need to take advantage of it and you’re good to go.   

How Much Money Can You Make With The Loan Broker Network?

The beauty about working with the Loan Broker Network, if you decide to join them, is that all your efforts get paid.  For every approved loan that you brokered, you get about 10% commission.  

Good, right? 

This should really encourage you to go out there and get a lot of clients.  This is actually a win-win situation – for you, the business loan broker, and your client, the borrower. 

And if ever your client’s loan doesn’t get approved, you will still get $2,000.  Awesome!

Loan Broker Network Review: To Join Or Not To Join?

On the website of the Loan Broker Network, this is what they say, “Tap into our existing infrastructure… We will also do the heavy lifting and CLOSE YOUR DEALS FOR YOU, so you can make MASSIVE COMMISSIONS.  All we ask you to do is generate a lead, and we will teach you how to do that via free and paid marketing.” 

If you join the Loan Broker Network, you get to be trained on how to be a successful business loan broker especially in lead generation, work with celebrity entrepreneurs with proven track records, and utilize their efficient and proven infrastructure. 

All your efforts are also rewarded well, whether your clients’ loan applications get approved or not.  Not a bad deal at all!

The catch?  You need to invest heavily initially.  If you have $5,000, no deadline to reach your national business capital, and a strong determination to win, then joining the Loan Broker Network is for you!

If not, then you can always search for better alternatives.  And there are always better alternatives.  You just have to search for them.

What Is Our Top Recommendation For Making Money In 2021?

Our review team has come across a program in the real estate industry that is next level!

Although it’s not real estate in the traditional sense, it’s all digital.

Yup, Digital Real Estate!

Where Loan Broker Network falls short is in profitability. 

You can’t realistically expect to be able to make any REAL passive income when you’re only bringing in maybe (average weekly earnings).

But what if you leverage it?

With this digital real estate program, you can have the ability to completely walk away from manual labor!

Sound too good to be true? Of course it does! But it isn’t…in fact, business owners wish they had this skill!

All you have to do is build and rank a website and forward the jobs off to a business owner in town, you could even email it to them!

This works for literally any service based business, tree service, plumbing, towing, etc. 

How do you get paid and how much?

Simple, after you forward the jobs off to a business owner and he makes some money off of them, you simply ask to make the deal beneficial for each other.

A fair price to charge per lead, depending on the industry is 10-20%…

let’s just use the tree service industry for example and go by worst case scenario.

Let’s say you build and rank the site and only 20 jobs a month come in. The average tree service job is anywhere from $500-$2000!

That means at bare minimum you have an asset worth $1000 a month!

See why they call it digital real estate now? That’s a rent payment. 

The great thing is how easy it is to scale. You don’t have to answer the phone…all you have to do is get the phone to ring.

Remember Loan Broker Network and all the small profit margins? 

This one actually allows you to collect that without working in a brick and mortar business all day. Truly passive income!

The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.

You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.

Once the training program is completed you will also have access to a Facebook group where you can ask questions and be in a community with others on the same journey as you.

Unlike Loan Broker Network, where you have to keep trading your time for money over and over…. You can finally get on the financially-free side of life. A business will always want more leads and another job. In fact, it doesn’t even matter that the job isn’t coming from their website name…they see it as it is…expanding digital real estate.

Unlike Loan Broker Network, more people have been able to become financially free as well. 

Digital real estate allows you to have passive income with most of your day being spent OUT of the brick and mortar landscape.

Now, I know you probably have tons of questions… So, check this out to learn more.

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