“How to become a commercial loan broker in the USA?”There are no formal qualifications for becoming
a commercial loan broker. Some commercial loan brokers have college-level business, finance, or economics education,
while others don't. Some lenders may prefer working with brokers with an associate's or a bachelor's degree.
You'll need a sound grounding in finance and accounting to become a successful broker, regardless of your educational background. You must understand
bookkeeping, accounting, and how businesses run so you can assess their financial health and capture your client's financial needs.
Tangible industry experience is crucial to accelerating your career as a commercial broker. Securing an entry-level job or internship at a brokerage firm can prove valuable. Some firms offer in-house training to polish your skills and abilities. You can use the job to gain experience and hone your skills before branching out independently.
Alternatively, you can enroll in a reputable commercial loan broker training program and get certified. Many states don't require certification for loan brokers, except those dealing with real estate loans. However, certification can help lend credibility, earn client trust, and land more business. Check with your state licensing board or local Small Business Administration (SBA) branch about the state's licensing requirements.
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