How Savvy Brokers Earn More on PPP Referrals
- Feb 15, 2021
Round 2 of PPP is well underway, but there’s still time to capitalize on referral incentives through non-bank lenders. As a broker, you can earn fees in two ways: through PPP client referrals and bank loan sales.
- Participating lenders are processing both first and second draw loans. Refer your borrowers and earn a fee on closed deals.
- Select lenders are also buying previously funded PPP Loans. If your banking partners want to offload forgiveness, you can connect them with a referral source and earn an additional fee.
SBA-approved lender Liberty SBF is accepting both borrower and bank referrals. You can monetize your relationships by signing up for our PPP Referral Program today. Click here to get started.
PPP Quick Facts
Here’s what your clients need to know about the second round of PPP:
- The relief bill includes $284 billion in PPP funds
- Borrowers can apply for first or second draw loans
- Applicants need five documents to substantiate their loan request
- Loans are processed on a “first-come, first-served” basis
- The program ends on March 31, but borrowers should apply as soon as possible to secure their loan request
- Banks can offload forgiveness by selling previously funded loans
Referring Borrowers or Banks
The Covid-19 pandemic continues to stifle the wider economy and small business owners desperately need this capital to maintain payroll and protect their future and their employees’ jobs. Borrowers are anxious about choosing the right lender and going through the PPP application process. As a broker, you can do your part by connecting borrowers with an experienced lender who can fund loan requests quickly.
If your bank partners aren’t participating in PPP, let them know they can send their clients to an authorized lender like Liberty SBF. You can also facilitate an introduction if they’re looking to offload forgiveness processing by selling previously funded loans — we’re accepting portfolio sales with no size limit.
Our referral program gives you volume-based incentives, so the more you refer, the more you earn. Uncapped commissions!
Liberty SBF: Approved Paycheck Protection Program Lender
Liberty SBF is an SBA-approved lender, handling underwriting, processing, funding, and servicing. We can be an all-in-one resource for your borrowers and banking partners. We facilitated over 3,200 loans in the sum of more than $350 million during the first round of PPP funding and are on track to double these numbers during round 2.
We’re also a trusted referral resource for commercial real estate loan brokers, property agents, and other lenders that need to provide their small business customers with timely and necessary financing.
Connect your banks and borrowers with a trusted PPP resource. Join our broker referral program and start earning today.