Frequently Asked Questions
Our accelerated loan broker training program is designed to teach ordinary people without any background in finance, the latest techniques in operating a loan brokerage company. Our certification classes are taught by seasoned professionals with direct experience in the Loan Brokerage industry. This initial three day training session is required to qualify you to work directly with our wholesale lenders as a Finance Consultant.
Is TLC really the oldest and largest loan broker affiliate program?
Yes! The Loan Consultants was founded in 1983 by Stephen Weeks after he spent decades in the world of finance. Prior to establishing The Loan Consultants there was no company offering this type of business opportunity and we remain the industry leader. After a successful career as a bank officer, President of a mortgage company and one of the founders of $100 million bank (Sterling Bank in Beverly Hills, CA) Mr. Weeks saw a need for well trained independent loan brokers who could assist clients in virtually any situation. In 1992 he joined forces with current President, Dan Alaniz who was instrumental in establishing our international presence. More Info.
Can I really be successful in this business without experience?
Yes! For over 30 years our specialty has been helping people from all walks of life to be successful as a financial consultant. You need to provide the willingness to learn and the enthusiasm for this industry. We will provide you the tools, training and support you need to help achieve your goals. More Info.
Do I need an office or any special equipment?
No. The most important thing you need is a desire to help people and to create or keep jobs in the community. Naturally, there are some tools you will need such as a phone, computer, and business cards. However, you do not need to lease office space, purchase a phone system or have office staff unless you choose. More Info.
Why would a customer choose to use me?
The most important reason is a loan broker acts as the borrowers’ advocate in a loan transaction. With all the different financing options available, the borrower needs someone who has their best interest in mind to help them determine what type of financing they need and how best to obtain it. Compare that to a bank loan officer who works for the bank and is loyal to the bank. In the case of business financing, a loan broker also allows the business owner to focus his efforts on running their company, not visiting with multiple lenders trying to find the best deal. In addition to savings of time and money, our brokers also have access to 100+ lenders offering the largest array of solutions for your client. More Info.
How do I know you will really support me and my business?
Your support is guaranteed in writing in our contract. Additionally, we have negotiated agreements with our lenders that allow us to earn residual income based on loans funded by our affiliates. These fees do not come from your commissions, but provide an important revenue stream and ensures we have a vested interest in your success! Our staff of highly trained professionals will assist you in determining the quality of your transaction, as well as the proper lender to submit it to. You can contact them by phone, email, or fax – whatever works best for you. More Info.
How do you help me find borrowers?
We will work with you to customize our 100 point marketing system to fit your comfort level and unique needs. Whether you want to use Web-based marketing, traditional marketing, non-traditional marketing, networking, or other methods, we have one that is right for you. More Info.
How do I know that you are legitimate?
We have been in business for over 30 years. We are licensed and registered with the Attorney General and we are in full compliance of all Federal Trade Commission requirements. Additionally, if you are in Los Angeles, we invite you to make an appointment and visit our world headquarters and meet us in person. Come examine the awards and commendations we have received from the city of Los Angeles and national publications. More Info.
Can I hire people to work under me?
Yes! You can grow this business as large as you would like. We will even provide you with the tools to train your team and provide the various forms such as commission and non-compete agreements you will want to have in place. More Info.
What license do I need?
For the vast majority of states there is no special license required. Please call and speak to one of our representatives to discuss your particular situation. More Info.
Why can’t I do this on my own?
Perhaps you could, but it will take you years to develop relationships with the best lenders in the industry, many of whom will require experience or minimum volume if you are not part of our network. We have these relationships already established for you and a staff of professionals to assist you in qualifying your client and packaging the loan properly. In short, we believe that we shorten your learning curve by years and you still keep 100% of your commissions. More Info.
I am a licensed real estate professional. Can I still do this business?
Please call and speak to one of our representatives. They are experts in the laws of every state in the U.S., and every province in Canada. More Info.
Do I have to attend the closing with the lender and borrower?
No. The lender will take care of all those details and send you your check. You do not need to be present at that time. More Info.
Do you offer financial assistance?
Yes. We offer a veteran’s discount as well as assistance to qualified candidates. Please call and speak to one of our representatives for more details. More Info.
Do I have to pay TLC any ongoing fees?
No. Unlike franchises and other business opportunities, you will not pay any on-going fees to The Loan Consultants. Everything we provide to you is included for the one-time investment. More Info.
Do you provide me with a website?
Yes! As part of your investment, we provide you with a customizable, cutting edge website that is designed for this industry. It features everything your client needs to do business with you: payment calculators, amortization charts, Frequently Asked Questions, a description of why you can fund deals that banks cannot and of course it has a No-Obligation Application that your client can fill out 24 hours a day. You just check your inbox and see who needs your services! More Info.
Who hosts my website?
To ensure that you are pleased with your service provider, we allow you to choose the hosting company. We can also refer you to one of our preferred hosting companies or you can choose one on your own. More Info.
Can I see an example of the website?
Yes, we have examples that we can email to you. Please call and ask one of our representatives to assist you. More Info.
Do I have to lend my own money?
No, as a loan broker you are an intermediary and do not put your own capital at risk. You are simply helping connect the borrower with one of our many wholesale lenders and facilitating the paperwork between them. You are simply your clients’ financial consultant!
How do I get paid?
It may vary slightly based on the type of transaction you are funding but generally, as an independent financial consultant, you will have a fee agreement with the lender. Upon funding the lender will pay you directly. This is how you know that you are keeping 100% of the commission! Your commission is guaranteed in writing so you don’t have to worry about getting paid. More Info.
Is this just a list of banks?
No. We have established relationships with some of the best and most aggressive wholesale lenders throughout the United States and Canada. These include private lenders, asset based lenders, institutional lenders, investment banks, pension funds and more. More Info.
How do I know they are legitimate?
Before a lender is accepted into our network they must go through a two-step interview process to ensure that they are right for our affiliates. Once accepted, they are monitored to ensure they are adhering to all the criteria we set forth. This allows you to focus on finding clients while knowing that quality lenders are available to assist you. More Info.
What if my customer has bad credit?
You can help clients with a variety of needs and backgrounds. Our lender relationships include many non-bank and private lenders that consider other factors besides credit. This allows you to to execute bank-quality transactions as well as help those with less than perfect credit.
Where is the certification held?
Classes are normally in our world headquarters in Los Angeles, CA but, we have also conducted training at satellite locations in Dallas, New York and Toronto.
Can I take the 3 day training by webinar?
No. We believe it is very important to instruct you on the core aspects of the business in a live, in-person certification. We limit the size of the class to 5 parties or fewer to ensure everyone gets the individual attention they need. After the initial 3 day certification, we have a series of live web-ex seminars that you can attend from your home or office. More Info.
What does certification mean?
When you complete our three day course, you will be officially recognized as a Business Finance Consultant. This certification gives you access to our vast lender network that would typically require years of experience before accepting your loan package. However, they can waive that requirement for our graduates because they know the level of training you have received and they know your transaction was reviewed by of our staff professionals to ensure it meets their criteria. More Info.
How long is the certification?
The live, in-person certification is 3 very intense days. After that, we conduct a series of live web ex seminars on various topics. More Info.
When do you hold certification classes?
Classes are typically held on Friday, Saturday, and Sunday. This allows participants to travel to Los Angeles on Thursday night and travel back home on Sunday evening, allowing them to be back to their “normal life” on Monday morning. More Info.
What is the cost of your program?
If you are accepted into our network, there is a one-time-only investment that provides you all the training, tools, materials, lender access and support for the life of your company. Currently the investment is $13,800. Please call and speak to one of our representatives for more details. More Info.
Support For The Life Of Your Company!
We support you for no additional costs or fees for the life of your company. Our Senior Loan Officers are available Monday through Friday to help work on your deals. Whether you need our help ten times a day or once a month, we’re always there to assist you! You will have the confidence of knowing you are offering the one product that everyone needs… money!