Earn Money Brokering Business Notes

Start Your Own Business Promissory Note Business

Brokering business notes can be a good source of income either as part of an overall cash flow business or as a single source of revenue if you wanted to just focus on business promissory notes.

Brokering business note purchases can certainly be an excellent home-based business opportunity.

How You Get Paid

First, you market for and find people who have created a seller-financed business note as part of the sale of their business.

Next, you would have a note holder interested in selling note payments fill out your quote request form.  You would then submit this information to your funding source.

Then, your funding source will give a full quote.  From this amount, you would subtract out what you would want to get paid as your referral fee and then use the remaining amount as your quote to your note seller.

Finally, if your note seller accepts your quote, you get compensated for your efforts with a check for your referral fee after the closing of the business note purchase.





The 3 General Steps For Starting And Running Your Note Brokering Business

1. Set up your business correctly.

2. Find a funding source office to which you will submit your business note purchase quote requests.  There are a handful of business note funding sources out there and they can be found through some online research.

3. Learn the particular funding criteria and guidelines of your particular business note funding source for purchasing notes.  This information can usually be found on the website of the funding source.

Doing this ahead of time will save you time in qualifying leads and will save your funding source time in reviewing a business note quote request. 

After you learn the business, your time will become more and more valuable.  You will not want to waste time filling out and submitting quote requests for leads that you should already know do not meet your funding source funding criteria.

Your funding source will probably have many other quote requests to review so that they will not want to be bogged down with requests that you could have easily turned away yourself simply based on the funding criteria of the funding source.

4. Market for business promissory note purchase leads.

5. Qualify your leads and submit qualified leads to your funding source for a note quote request.

6. Deduct your referral fee from the quote your receive from the funding source and present the remaining amount to the note holder as your note quote.

7. If your quote is accepted, inform your funding source of the accepted quote and then collect whatever initial documents the funding source directs you to collect.

8. The funding source will then take over the handling the business note purchase transaction.

9.  The note purchase closing process will be scheduled.

10. After a successful closing transaction, the funding source will then send you your check.


Related Articles:

Business Note Quote Request

Learn what information is needed to process a quote request from a seller.

Business Note Purchase Underwriting Process

Learn what documents are most likely going to be needed by the funding source before a business note can be purchased.



 

 


©  Capital Projects Enterprises |
Brokering Business Promissory Notes