Business Loan Consultants Near You: How to Find Help

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How much do you need?
What is a business loan consultant?
How to find a business loan consultant near you
- How many lenders do they partner with? Look for a consultant with a large network that can shop your application around to multiple lenders and improve your odds of getting a competitive loan offer.
- Do they specialize in a certain type of business or funding? There are nuances to certain types of businesses and business loans. Startups, for example, want a loan consultant with a track record of securing funding for new businesses. Business owners hoping for an SBA loan, on the other hand, want to work with someone who is well versed in the current requirements and application processes.
- What is the fee structure? Some loan consultants charge an hourly fee or per-session fee, while others take a percentage of your total loan amount. When comparing options, get a clear, complete picture of each consultant’s fee structure, as well as what it includes. How many loan applications will they send on your behalf, for example? And how long will the process take?
- What happens if they can’t help you secure financing? Getting approved for a business loan isn’t guaranteed, even when working with a professional. It’s important to understand the worst-case scenario before signing on with a consultant or broker.
Finding an SBA loan consultant
Alternatives to business loan consultants
Article sources
- 1. U.S. Small Business Administration. About the Office of Small Business Development Centers. Accessed Jun 15, 2022.
- 2. Opportunity Finance Network. About Opportunity Finance Network. Accessed Jun 15, 2022.