Understand goals, gather the information needed, and boost your trusted advisor status.
When it comes to small-balance commercial loan opportunities, gathering the right information from borrowers up front helps to qualify the property and facilitates lending more quickly.
Brokers who use a consistent approach to qualifying small-commercial loan opportunities are often more organized, have a better understanding of the borrower’s overall objectives, and as a result are best prepared for placing the transaction with the right lender. Asking the right questions also helps to reinforce your position as a trusted advisor who understands the lending process and borrower needs.
We’ve found that a go-to list of questions and discussion points similar to the one provided below is valuable in guiding that first conversation between broker and borrower. You may wish to build on this or adjust as necessary to make it work for you.