In today’s episode of The Money Friends, join Brandon Duff as we invite Jantzen Fugate over to our podcast channel to talk about his Being A Business Loan Broker And The Success And Epic Failures In His Business.
1:20 Business Loan Broker Intro
Brandon is a serial entrepreneur. He is an open book. You could Google him up from the bad to good stuffs about his past. He had a couple of successful businesses and fought through a bunch of failing businesses. Right now, he is teaching with the Business Loan Broker Academy.
4:07 Understanding Banking
A broker will help entrepreneurs understand about bank financing; underwriting criteria, lending capacity, and risk tolerance.
8:08 "No Risk" in Business Loan Brokering.
Brandon said one of the beautiful things about this industry is its ‘no risk’ because, it’s kind of unregulated, there’s not really a lot of licensing. Only a couple of states that require it such as; California and North Carolina.
13:20 Commissions As A Business Loan Broker.
Brokers are primarily paid by the lending institutions, not by the entrepreneurs. Business Loan Brokers go through an onboarding process, promote the lending institution’s products and connect with the borrower. Borrower accepts the terms then gets funded then the broker will receive a commission from the institution after the borrower receives the funding. Commissions are insane! I've Seens some make a couple hundred thousand a month.
18:15 Learning Opportunities.
Learning opportunities comes with hiring and firing. Know who to work with. Be very cautious. Constantly be asking why. Be very cognizant with your business. This Is A Huge Takeaway for any business owner since there is so much that can go wrong in a business.
22:43 Be Consistent
The more you’re going to fail, the more you go to success. This is about ‘fitness’. Just be consistent. Because, being consistent, when you’re good at it, it becomes easier, and you don’t even need to think about it and you are able to focus on other things. Learn To love to fail because it will take you closer to success.
24:40 Being Patient
As a loan broker, you need to have skill or talent of relentless and committed. If you are committed you are going to see success. If you are not going to sell, that does not necessarily matter. If you are an introvert, that does not necessarily matter. If you are not smart, it does not necessarily matter. If you don’t have college degree, that does not matter. Continue to keep persevering. Being A Loan broker can be rough but has huge payouts.
26:54 Be Committed
If you are committed to this industry put in to work. Follow our blueprints, you will be successful.
Mentioned in the podcast:
- Get to know more about Jantzen on his Facebook page and the academy’s official Facebook group
- Visit to Jantzen’s website on
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Contact Jantzen Fugate
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