Commercial mortgage brokers are always looking for new borrowers through their referral network and social media. But what about the small business you visit on a regular basis? There are plenty of mom-and-pop businesses housed in small commercial properties in your community who might have trouble securing bank financing. Talk to these owners when you stop in and let them know that you specialize in small balance commercial mortgages for non-bankable borrowers:
The next time you need your brakes realigned or a tune-up, talk to the owner of your local auto-repair shop. Smaller shops can often have a tough time getting the loans they need to pay off debt or expand their business. Tell them you can help.
The corner deli where you grab a bite during the week could need a small-balance commercial mortgage to purchase equipment or to make improvements to their business. When you order your sandwich, chat with the owner for a few minutes about how you can assist if they ever need a loan.
Local bars and restaurants:
The places in town where you can sit down for a few drinks with friends or a nice meal with your family generally face some obstacles in obtaining bank loans. If you’re a regular, talk to the owner and let them know that you can give them financing options.
Whether it’s the local grocery store, hardware store or clothing boutique, smaller retail operations might find it difficult to get a mortgage in order to buy more inventory or pay down their debts. Be sure to tell these small business owners that you can help them secure commercial mortgages if they need them.
At the end of the day, small business owners will be the people you need in order to succeed as a commercial mortgage broker. Get to know these people, and let them know that you understand their unique situations and can help them acquire the loans they need in order to keep their businesses strong and growing.