Has anyone ever dealt with "loan brokers" before?

June 27, 2020

by a searcher from Cornell University - SC Johnson College of Business in Providence, RI, USA

Example being the following: https://www.multifunding.com/about-us/

They "work with hundreds of lenders across the country in order to find you the best loan for your business." Curious if anyone (searchers, lenders, etc.) had any insight, thoughts on pros/cons, etc. A couple have been referred and it's the first time I've heard of them. Thanks.

Reply by an admin
from Stanford University in Honolulu, HI, USA

Hi, ^redacted‌: Your membership includes our matching feature, which will match investor and lenders to your deal. Here is a tip sheet: Filling the Gap: https://www.searchfunder.com/post/tip-for-the-week-matching-your-deal-to-investors-lenders-filling-the-gap

Be sure to click "I want to buy this company." ~ Karen

Reply by a searcher
from University of California, Santa Barbara in Los Angeles, CA, USA

I would be careful on this as some will want an upfront retainer check and the tail on their search might make it hard you to get a loan down with someone else if they fail. If it’s success only and they identify who they are going to go out to, it’s probably worth it. I’m always happy to pay fees if I get a deal done because getting deals done is how we make money in this business

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