As the economy hits highs and lows, many businesses have difficulty maintaining growth and profitability. A career as a broker in commercial lending offers a unique, recession-proof business opportunity that thrives in every economy. By Elice Morgenson
As the economy hits highs and lows, many businesses have difficulty maintaining growth and profitability. A career as a broker in commercial lending offers a unique, recession-proof business opportunity that thrives in every economy. The Global Financial Training Program has taught commercial lending for 38 years and is able to stay at the forefront of lending activity by being an active lender.
“I have been operating a lending business since the ‘80s, and I have seen economies that are high and low. Even during the pandemic, my business was up by 30%. In every economy, there are businesses that are doing well, so we focus our lending on those areas that are hot at that particular moment”, explained Phil Dushey, CEO and president of the Global Financial Training Program.
A career in financing does not require any prior lending experience. However, the key to success is grounded in developing relationships with clients and direct access to lenders.
“It is very important to be a people person because people naturally do business with people they like,” Dushey said. “We also deal directly with lenders, so there are no third parties who would take a percentage of the profit, and this helps us to be competitive with our pricing. Our lenders are institutional lenders, which means they lend out their own money, so 90% of our credit requests are approved within 48 hours, which is much faster than traditional banks.”
The Global Financial Training Program is offered as a monthly event and involves one-on-one training in a virtual classroom environment. Graduates will learn the difference between various types of loans, lenders and approval techniques, and they will learn how to identify what the client needs quickly. Once they get their business up and running, graduates will be able to offer a wide range of loan solutions with immediate approval from lenders and have a mentor and support for the lifetime of their business.