Local Freelance Funding Formula

Local Freelance Funding Formula
Intro to Local Freelance Funding Formula 4
1 The Mechanics of Small Business Funding Sources of old 6
2 Small Business Funding Sources of NEW Explained 8
2.1 What Are The Requirements to Get Approved? 9
2.2 Risk and The Short Term Business Loan Model Explained 10
2.3 How Do These Loans Help? 12
2.4 Paying Back a Short Term Business Loan 15
3 How to Get High Quality Leads From Local Bank Turn-downs 16
3.1 How to Easily Find Bankers 19
3.2 Using Linkedin and Hunter.io to get banker emails 20
3.3 What to Say To Get Bankers To Respond 26
3.4 Staying in Touch 31
4 Getting Targeted Leads Through Indeed 32
5 Get Leads From Business Broker Sites 37
6 The Fast Track Approach Using Fiverr 40
7 How to Approach Small Business Owners 42
7.1 Contacting business owners the old fashion way 44
8 Where to Find Funding Sources & How They Pay 44
8.1 The Bird Dog Approach 45
8.2 The Broker Agent Approach 46
9 An Average Deal Payout 48
9.1 Getting Paid as a Bird Dog 49
9.2 Getting Paid as a Broker Agent 50
9.3 Other Income Opportunities 51
10 Where to Turn to Partner With a Business Loan Broker 53
11 Wrapping Things Up 55
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Intro to Local Freelance Funding Formula
Welcome and THANK YOU! In this program we will cover one of the most
lucrative vehicles for earning a full time income with small business
consulting.
You may or may not currently be consulting business owners to solve their
most pressing challenges. If you are… I am about to show you an easy
“side” gig that 1 out of every 10 business owners will need now or in the
next 6 months.
If you are new to offline marketing and you are giving this thing called b2b
consulting a shot, you may find that this can be the only solution in your
arsenal that you want to offer to small business owners. If you’re currently
offering other services like websites, lead gen, press releases, reputation
management… you’ll quickly find out that a simple “tail end” question can
get you consistent paydays that may even outweigh your present sources
of income in your b2b consulting business.
Coming from an ex-real estate agent and a current small business

consultant… how can I possibly be knowledgeable about small business
finance? In my passed ventures the accumulated amount of knowledge
and experience with business funding has piled up.
Think about it for a moment. As a Real Estate Agent, I dealt with business
owners on the commercial side. Many of these business owners wanted
referrals for good sources of fast capital outside of the commercial
mortgage sector of their business. After several sent referrals to business
loan brokers I started to wonder if I should get paid for sending a referral.
Why? Well, isn’t the hardest part of any business… just getting the
business? I mean getting that qualified lead that turns into a sale is the
hard part. If one is just slightly exceptional in their field, they can close a
good portion of the qualified leads that come in, right? So, I thought, why
shouldn’t I get paid for doing the hard part for these loan brokers?
But… is it really the hard part? Afterall, even though it may seem difficult in
their eyes… don’t I already have the business owner right in front of me?
(And if you are not already selling services to local business owners we will
show you how to start without any previous experience or services in your
portfolio)
We’ll get back to this in a moment.
Let me explain. When one rubs shoulders with business owners everyday,
one hears the reports of certain business owners needing to renovate or
relocate… we hear about the mass exodus of upset employees and the
need for hiring campaigns… we hear the rumors of tax trouble for certain
business owners in the community… and we even hear the gossip of
certain owners who need money to make payroll.
Seriously, the list goes on and these circumstances all have one thing in
common... they cost MONEY!
Stop right now and imagine: W hat if you could just take the business
owner’s name and phone number(and a few other bits of information) and
just… pass it along to a source of funding?... and Get paid to do it?
And I’m not talking about chump change. I am talking about a good wad of
cash!
Enough to be able to maybe even take over anything else you are currently
offering. And if you are new to small business consulting, this could even
be your only source of income allowing you to reasonably make enough
money to eventually quit your day job.
And listen to this… there is no license of any sort required to do this. While
many finance sectors of the consumer market often require state licensing
and national memberships for loan originators, in most cases the business
side still does not require any licensing to originate or even process most of
these business loan types.
As we begin it is important, however, to understand the need to be

knowledgeable in the basics of small business lending. Because of this, I
will give you a brief history of the business lending of the past and business
lending today. Then we will dive into how each method works and how you
can put the pieces together to assist your clients. This will help you look
like an expert in their eyes… which will ultimately help you close and get
paid on more loans.
And this brings us to the topic of where business owners traditionally turn
when they need capital.
1 The Mechanics of Small Business Funding Sources of old
Let me preface this section by saying that there IS a place for traditional
business funding. This can include a business owner who wants the lowest
rate for a long term loan. An owner who is patient and willing to take a
huge chance of getting denied for a business loan because, in my
experience, traditional business loans fall through the cracks with an
all-to-often “turn down” after 4-12 months of paper shifting. In fact, I’ve
seen these turn-downs at a rate of 8 out of 10!
Why is this? Well, business loan underwriting criteria does not only consist
of credit score but a multi-faceted list of other guidelines that make credit
score only a fraction of the entire list.(even though credit score is in part a
determining factor)
These other factors include length of time in business, a healthy cash flow,
number of transactions per month, history and experience in
business(different from length of time), a business plan, a business
proforma, tax return scrutinizing, and much much more regarding needed
docs for every deal and additional information on a case by case basis.
Think about this for a moment… a business owner needs capital to make
payroll in two weeks. She goes to a bank and they tell her to gather all of
these documents and drop them off as soon as you can. She says “It may
take a while for me to round up all of these papers, but I’ll do my best…”
Then the banker says “By the way, approval may take 60 days… and
funding may take another 30…” (It often takes more than 30 extra days.)
What do you think that business owner will do? She’ll hit the road. She
may resort to other options like personal loans, drawing from a present
equity line of credit on her home, or even get a credit card. Are you serious
Mike?! These are her only options?
Well yes and no. Prior to 2007, 2008-ish, most businesses only had banks
to turn to for business capital. This wasn’t too bad because underwriting
rules were not as stringent. Loans closed quicker and less was required for
approval.
After the financial crisis of 2007 certain banks stopped lending and the
ones who were still in the loan business were looking for reasons NOT TO
lend instead of reasons TO lend. This caused the evolution of small
business lenders.
2 Small Business Funding Sources of NEW Explained
Small Business Lenders are NOT banks. They do not operate like banks.
In fact, they are far from the stuffy image of traditional banks. Today they
are more rampant than you may think. They typically do not operate
primarily from a store front location. In a lot of cases, they do not even
have an office in the conventional sense of the word. Many are web based
or virtual offices with agents working remotely and some still utilize call
centers.
In the spirit of full disclosure, this newer source of funding is not for
everyone although many business owners will use one at some point in
their career.
Let me give you some specific needs this type of funding can satisfy.
● To pay taxes
● To make payroll
● For those seasonal businesses that need to bridge a gap of time
● Equipment financing
● Renovations
● Expansion
● Need to purchase large orders to take advantage of bulk discounts
● Hiring campaigns
● Marketing campaigns
● To just increase working capital
● To pay other debts
● Emergencies - storm damages key equipment, a key employee quits,
etc.
● Purchasing another business
● And much more.
2.1 What Are The Requirements to Get Approved?

There are differences in what these short term business capital companies
look for when weighing the facts that will bring a denial or approval.
1. They value cash flow over credit score. They want to see the amount
of sales the company generates and how often deposits from these
sales come into their business bank account.
2. Generally, approval amounts are close to the amount of their monthly
sales volume. So if the company produces $30k in monthly sales,
they can probably get approved for a $30k loan. Some offer more
and some less.
3. They want to help small businesses. So unlike banks, they will look at
every angle to get them approved instead of looking for every reason
not to approve.
Being that these lenders place more importance on cash flow, what other
factors are involved with getting a loan approved? Well, three main things
weigh heavy in their underwriting guidelines, but we will list 5.
● At least 4 months in business

● At least $10,000 in monthly cash flow from sales
● Minimum 500 credit score
● Minimum 3 deposits or more per month into a business bank account
● Minimal NSF’s
This is nothing compared to what traditional banks require as mentioned

above. Couple the bank’s extensive requirements with the 15-30 document
types required and it’s no wonder why more and more business owners are
exploring other options.
Since we’re on the subject of documents, take a look at how short and easy
the list of documents required are for a short term small business loan:
1. Generally, a one page E-App or paper application

2. 3 months of business account bank statements
3. The most recent year’s filed business taxes
4. Copy of driver’s license
5. Voided Check
Typically, this is all they need!
2.2 Risk and The Short Term Business Loan Model Explained
Let’s continue to discuss the aspect of this loan type compared to

traditional bank loans. These loans are typically short term as you have
probably concluded from the list above. This means a business owner who
is forgoing a several year long project may not use this type of funding if
they need to maximize profits. A business owner purchasing commercial
real estate will not utilize this type of loan either being that mortgages are
more long term and specifically leverage lower costs when considering
resell of the property. Longer term/traditional business loans are less
expensive when looking at the rate alone.
Which brings me to the next point. The reason longer term loans are less
expensive is because there is less risk. In other words, in the case of loans
for real property, there is collateral involved - usually the building. Even
traditional business loans have collateral so if the owner defaults… the
bank can repossess and liquidate to recoup any losses.
In addition to collateral, there is a gauntlet of underwriting rigmarole that the

owner has to go through before getting approved… or denied. Naturally
this reduces risk which, in turn, brings the cost of borrowing down.
So what about the short term business loans? What’s given up in

exchange for getting a business loan faster and with less underwriting?
The fact that there is less to go through when getting a short term business
loan makes it simple to understand that there is MORE risk involved. And
don’t forget about the collateral… These loans do not require any type of
collateral which also increases risk for the lender. So why would someone
lend for a riskier scenario?
Easy. They make up for the risk in cost. Fees are customarily higher if the
risk is also higher. But these business loan companies typically do not
measure fees by a “rate”. There is usually no interest rate in the sense
that you and I understand. Something called a Factor Rate is measured
as a decimal figure instead of a percentage and is typically used instead of
an interest rate. These can be anywhere from 1.2 to 1.5.
To find the total cost of the loan just multiply the factor rate by the loan
amount to find out to total payback of the entire loan. So someone
borrowing $100k at a 1.3% factor rate will pay back $130k.
Let’s put this into proper perspective for a moment. You may be saying…
WAIT Michael… that’s too high!!
Let me ask you, have you ever owned a home? Let say you have a
mortgage with the low rates that offered in today’s market. Did you
know you will probably pay a 3.3 - 3.4 factor rate back over the course
of 30 years? So if you borrowed just $100k… you will pay back… wait
for it… $350,000 back over the course of the loan!
But there are many more scenarios that justify getting these short term
business loans. Let’s take a look at how this financing type can truly help
the business owner.
2.3 How Do These Loans Help?
Are these loans really that much higher in cost?... but of course! (Don’t
forget risk and no collateral)
But are they really more “expensive” for every predicament? Not always…
Think about the business owner who has a load of inventory damaged from
a delivery truck accident resulting in a vehicle roll over damaging the
inventory that was being counted on to fill a key order for a key customer?
How much money will that business owner lose by not getting a short term
loan because traditional banks just CAN’T deliver funds on time. In this
crisis a higher cost short term loan can save that business not only the key
order, but also make the business money, and save reputation!
What about that business that is seasonal and has not had the means to
prepare for the off season like years passed. Sales have been down for
the company but they expect a hike in sales with a new product launch
coming for the IN season. The only problem is they don’t have the capital
next month to pay their employees. Wouldn’t it be foolish not to go to a
short term lender?
And it’s not always to avoid an unfavorable situation. A lot of times even
bankable clients utilize a short term business loan simply because TIMING
is involved.
With stiff-necked and slow banks, the approval time alone could take 2, 3,
even 8 months! Anything less just doesn’t exist with banks. Sometimes it’s
timing AND a promise of future gain that can entice a business owner to
seek a short term business loan. I’ve had this scenario come up several
times.
Those banks have their purpose, but you are here to crush those banks by
having the right answer for business owners who didn’t think there was
another choice!
What if the business owner just doesn’t have great credit. She owns a
restaurant and wants to add a balcony to the side of the building. Let’s say
since she cannot get a loan through the bank because of her 560 credit
score, she decides to get a short term business loan. She knows it will cost
her $30k to have the balcony built and to purchase new equipment like
additional tables and chairs. She will end up paying a 1.3 factor rate which
simply means she will pay back 1.3 times the amount of the loan. So she’ll
pay $9k in fees/interest over the course of the loan. BUT… she also knows
this new balcony will allow for more customers which will bring in over $40k
MORE every single month.
Plainly put, this business owner doesn’t care if it costs her $9,000 if it’s
going to bring her $480,000 in extra sales each year!
Do you get the picture? Here’s another.
A business owner secures a large contract to produce goods for a large

well known company. The order is much more than they are used to
producing which means they do not have the parts needed in inventory to
fulfill the order in time. They also do not have the money to make a large
order of parts and to pay the additional cost of expedited shipping.
They approached the bank down the street and of course this bank could
not deliver funds for at least 60 days if lucky.
So the company thinks they just have to turn down the order and say
“bye-bye” to the largest order in their company history which could have
boosted their sales volume out the roof for the entire year!!
Smart business owners who experience a similar ordeal to the one above
will approach a short term business capital company to get what they
want… which is a short term solution NOW so they can grab the largest
order in company history with both hands!
The cost is higher but the payout is now in sight. This company may pay
1.2 - 1.5 times the loan amount but end up profiting 100s of thousands of
dollars that they would have otherwise never seen.
Oh, I’ve heard it from so called “business experts”... “never get a short term
business loan”. Never say never, right. As you can see, there ARE plenty
of circumstances in which a short term business loan can help a business
owner’s company, shield their wallet, and ultimately help save their family
from potential disaster.
2.4 Paying Back a Short Term Business Loan
Most people understand the process for paying back a traditional loan
whether it’s a personal loan, a mortgage, or even a credit card. You get the
money and you make monthly payments for a certain term which can be
from 1 year to 30 years if it’s a mortgage.
Frequently, a short term business loan may use a different structure to

obtain payments in full from the customer. As stated before, the main
factor in paying back this type of loan is RISK. Essentially, the higher the
risk, the lower the payback term.
Since these loans are higher in risk compared to collateralized funding, the
term for payback can generally be 3 months to 2 years with funding
amounts of $10,000 to $500,000(some funding sources lend up to $1mil or
more). 1- The lender does not want to increase risk by a prolonged
process. 2- The lender can gauge a profitable loan risk with several factors
including the time to pay back the loan. It just makes sense to get paid
quickly especially if there is no avenue for recouping through liquidated
damages.
Here’s how the payment structure usually works to make the most sense
for both lender and borrower. The lender will most likely receive payments
on a daily basis. It’s called micropayments and it’s often a win-win for both
parties.
These micropayments are spread out over the term of the loan to be
collected as part of the business’s daily revenue. The business owner will
see daily automatic withdraws from his/her business bank account. This is
a “quick fix” for the lender in that they are seeing instant “skin in the game”
from the borrower making it even more likely for them to pay it back over
the long(short) run.
Another type of short term business loan is what we call Merchant Cash
Advances. This concept is similar to a regular short term business loan
with the same pricing structure using factor rates, but the payback is
slightly different.
WIth a Merchant Cash Advance, the business owner agrees to have

micropayments deducted from their credit card processing revenue. This is
ideal for a retailer, restaurant, or any other business type with a high credit
card point of sale cash flow. The advantage is that the business owner’s
income from credit card purchases are reduced by the amount of the
micropayment daily making is much more bearable than a large hefty end
of month payment - it is much more manageable for the business owner.
Also, for the lender, even though there is no collateral… it could be said
that the business’s credit card revenue IS the collateral for the loan.
It is very important to at least has a baseline understanding of these loans

before attempting to create referrals in this arena which is why I hope this
explanation can be beneficial for you and your business.
3 How to Get High Quality Leads From Local Bank

Turn-downs
Why not work smarter instead of harder. Instead of seeking out business
leads that may or may not need money right now, I am going to show you
how to get a steady stream of highly motivated business owner leads who
not only need money now, but they’ve already started the process with
someone else.
This someone else is a bank who could not help the business owner.
Now I know I’ve referred to banks as stuffy, stiff-necked, and slow, but I
want to also make it clear that they can be a great asset and maybe even a
key player in your loan generating business. Here is how.
As covered above, this prospect has approached a bank who naturally has
more strict guidelines for approval. The client either has approached a
banker who has said it is not worth starting… or… the business owner has
started the process of gathering documents only to be turned down.
Here are the basic guidelines for getting approved through a local
bank:
2+ Years of business history
$50k + of monthly cash flow(this can vary)
680 or more credit score
Extensive sales deposits
No NSFs(non sufficient funds)
Merchant processing history
And about 15-30 other supporting documents(things, like financial
statements, business plans, proforma, etc)
Here’s what YOUR criteria is(your lending partner criteria):
4 Months business history

$10k monthly cash flow(sometimes less)
500 credit score
And about 4+- supporting documents
Do you see how it can be much easier to get a business owner approved
through you?
Let me change course for a moment and explain why this may be one of
the best ways to create business for yourself. Think Mortgage Lenders for
a moment.
Do you ever see many mortgage lenders advertising online through FB,
google, etc? Do you ever remember getting a solicitation call from a
mortgage lender or broker? Have they ever stopped by your home or

apartment?
I’m guessing your answer is no. Although, many do advertise online or in

newspapers and magazines, the smart ones market to THE SOURCE.
And who IS the source of home buyers?
REAL ESTATE AGENTS.
Here’s how it works. A moderately producing agent will have a “hip-pocket”

of 6-8 buyers every month. Multiply this by 12 months in a year and you
get 72 high quality potential home buyer leads… on the low end!
Now what if that mortgage lender just made an effort to have 8 key
realtors who send them these buyers to get qualified for a loan every
month? That’s 576 motivated, quality home buyers every year! They
can realistically run their whole business model off just marketing to real
estate agents and many do just that!
Bringing it back to business owners, how can we apply this same idea to
banks?
Remember, 8 out of 10 business loans through a bank will get turned

down. A bank with healthy traffic will have these numbers every single
month. Take 8 motivated business capital leads and multiply that by 12
months… you get the picture, don’t you?
What if you just had just 5 key bank branch managers in your hip-pocket?
That could be 480 quality prospects for your business loan side gig!
3.1 How to Easily Find Bankers
When targeting bankers on Linkedin it’s important to realize that this is not
the usual cold-email strategy because of the ease involved in getting
banker emails and the fact that they are targeted regardless because they
already work with businesses who need capital.
Think about this for a moment. National, even local banks are very
predictable.
Most bank organizations have a common pattern for email addresses

assigned to their employees. For example
“firstname.lastname@bank.com” or “lastnameFirstInitial@bank.com” or
firstname.middleinitial.lastname@bank.com. I know you’re catching on.
Here is how we take advantage of this knowledge. We will use 2 tools to

find just about any bank branch manager’s email address. Once this is
done, I will show you the best subject lines along with a few email
templates to use to get high response rates.
3.2 Using Linkedin and Hunter.io to get banker emails
First make sure you have a Linkedin account and a Hunter.io account. Both
resources are free and will be a vital tool in helping you reach out to bank
branch managers, business bankers, relationship managers, and merchant
service reps.
https://www.linkedin.com/ (you’ll be prompted to sign up when the page

loads)
https://hunter.io/ (Click top right to sign up for a free account)
Once you have both accounts in place, move on to step one.
1 - Go to this link to install the hunter extension on your chrome browser.

https://chrome.google.com/webstore/detail/hunter/hgmhmanijnjhaffoampdlll
chpolkdnj
Just click “add to chrome”
2 - Sign in to Linkedin. And search “People” for your local area. Then click
on “all filters” on the next page.
3 - Now we will filter your results as follows. Search for “branch manager”
in the title section. Make sure you are searching in your local area. And
make sure the industry is “banking”. Once these are filling in go ahead and
click “apply”. ( You can also search “business banker”, “personal banker”,
or “relationship manager”, but “branch manager” is the best target.)
4 - On the next page you will see many results for local branch managers
for branch banking locations in your area. Pick one and then find the
website for that person’s bank employer by scrolling down and clicking on
their current bank employer.
Once on that specific bank’s profile, scroll down to the “About” section to
find their website address. Click on the link and move on to step 5.
5 - Once on that branch manager’s employer’s site, in this case SunTrust

bank, you can click on the Hunter.IO extention icon in the top right section
of your browser. You will see many emails listed. What we are trying to
see here is a common format for employee emails for SunTrust Bank.
In this case, we can safely assume that the format is

firstname.lastname@suntrust.com. So if your potential client’s name is
Jim Brown, you can bet his email is jim.brown@suntrust.com. You can
now repeat the process and compile a list of 20-30 onto an excel
spreadsheet to start.
Now this takes some time, but if you can spare about $20, it may be better
to outsource this to a freelancer on Upwork.com. Feel free to use my
video to train them on what to do.
Next we’ll cover how to send high response emails to get them to agree to
use you as the go-to business loan resource for their turn-downs.
3.3 What to Say To Get Bankers To Respond
In this section, I will teach you what to say in an email to get these bankers
to respond positively to your idea. It’s all about what they want. In this
case we’ll be discussing what local branch manager’s want; things what will
help THEM grow their branch deposits.
There are several things that bank branch managers need to… well… stay
the branch manager. The main ones are:
● Deposits(the amount of money they have in customer deposits

overall)
● Loans
● Partner referrals(not necessarily referrals to them, but they are
graded on the amount of referrals they send out to partners within
the bank. This can be business bankers, mortgage loan officers, and
Investment bankers.)
So, give them what they want and they will give you what you want. We
will focus most of our attention on Deposits and investment referrals for
now.
First, take the first person off the list you compiled. You will be emailing
him or her a special message that will stand out… and it starts with the
subject line.
The main purpose here is to grab their attention so that they open the
email. Here are a few good subject lines for branch managers.
“I’m a present customer of yours” (only if you are a customer of their

bank - doesn’t have to be that branch location)
“Hi [name], a question about your deposits?”
“Hi [name], a question about mutual clients?”
“Regarding your business customers down the road”
“[name], need to know about your recent turn-down”
“Don’t close that file yet [name]”
“I have an idea to make you look better, [name]”
“I am in need of someone to open accounts”
“Can I send you local business customers?”
“Can I send you people to increase your deposits?”
These subject lines do two things. They raise curiosity and they pose a
possible benefit to the branch manager/banker. Use them. Put your own
twist on them, and create new ones of your own.
Once you have a powerful subject line, you’re now ready for the body of the
email. The following email covers 3 areas: 1 - who you are, 2 - the benefit
to the banker, 3 - what you want in exchange.
Hi Jim,
I’m ___________, and I may have some customers for you. Are you taking
new clients?
We work with local business owners every week to increase their exposure
and provide short term capital… they often ask me if I would recommend a
bank for their business accounts.
I never have a recommendation which is why I started to think about this.

You’re local and so am I so we both run across the same business owners
I’m sure. Can I send you those who are searching for a bank?
In exchange, I want something… but don’t worry because it takes no work

on your part and it will even make you look better.
Let me know if you are interested and I will explain.
Kindly,
[your name]
2nd Email
Hi,____________.
[name] here again(if they responded to your first email, of course you will not include
this line)
I’m glad you are open to me sending you new business account leads. I
really hope it will help your branch deposits.
Let me ask you this one question. Do you ever have business owners get
turned down for capital?
If no, don’t worry about it. If yes, I would like to help you not just turn them
away. This will also ease the tension for your business customers who get
turned down. In other words, you won’t just have to send them out the door
with nothing anymore. This will keep your relationship with those customers
healthy… and make you look good.
As I said before, we specialize in helping [your town] area businesses get

short term capital fast. Often, we can help the ones that get turned down
by your bank.
If you can send me your denied customers, I am sure this will position you
in the best light with these clients.
Thoughts?
Kindly,
[name]
Email 3
Subject: [name], I apologize for forgetting
Hi, ___________. I almost forgot. The other day I mentioned we help

small business owners get short term working capital and we are interested
in your denied business loan customers.
We come across a lot of business owners who need a bank

recommendation for business accounts. We also come across business
owners who have investments(as you know, a lot of them do).
Can you help with this too? If so, please reach out to me.
Kindly,
[your name]
Email 4
Subject: (follow up) I missed a huge part of this
[name], __________ here again.
I am starting to see why you’re the expert when it comes to bank stuff. I
was reading something the other day which jogged my mind about what
you do best.
Consumer products. We’ve been talking about how I can help you with
your business clients who get turned down and how I can send you
business customers who need to open business and investment
accounts…
But I totally missed your other customers. Even though we specialize in

helping business owners get short term working capital - a lot of them need
regular things too! Like mortgages and car loans, etc.
Just wanted to see if you can be my “go-to” for these referrals?
All the best,

[your name]
P.S. Just a reminder, I am offering this because I want to get your

business loan turn-downs. You can send them to me for another chance at
getting an approval. This is be much better for you than just telling them to
hit the road :)
These 4 emails are powerful in that they address 3 key sweet spots. And it
all revolves around them, the banker. These 3 areas are what you can
give them, how you will help their customers, and how it will make them
look. Them, them, them. Make sure you make THEM center stage!
3.4 Staying in Touch
This may be the easiest, most effective, and enjoyable part of the process.
Since this is a long term approach which will yield more closed paychecks
in the long run, you will need to follow up.
Some use autoresponders for this, but I would suggest not doing this. Only
because the effect of these “keep in touch” emails will be so potent coming
straight from you. And it’s easier than you think… Just 2 steps.
1 - As you compile a good list of bank branch manager leads who

response to you, start putting them in your outlook(or any other digital
calendar) calendar for key “reach out” dates.
● This will be some of the main holidays like Christmas, New Years,
Thanksgiving.
● But also make sure you throw in some holidays that are not really
celebrated much but they get the day off(bankers hours) Like
Memorial Day, Independence Day, and Labor Day. (You can rest
assured that no one else will be wishing them a good day off on labor
day!)
● In each email remind them about their turn-down clients.
2 - Reach out to them periodically/randomly with small emails like this
● “Just keeping in touch, hope all is well.”

● “Just wanted to remind you I am here is you need me”
● “Hope your week is going well. We’re here to help if you need us.”
That’s it! You can use the model above to build a strong foundation of
referral business that will eventually blossom into a very lucrative plan.
4 Getting Targeted Leads Through Indeed
Have you ever searched and searched for something you lost, only to later
find it right in front of you? This next method is so simple yet so profound.
Motivated leads are right in front of you! And they’re willing to tell you
everything!
Go to any employment website and search “expanding” as a search term.

What will you find? Business after Business who are going through a key
change that will usually cost them… you guessed it… money.
They even supply you with a method to directly contact the decision maker!
Here we will go through a few short steps to find businesses who need
money right NOW.
1 - Go to any employment site. We will use Indeed.com for our example.
Type in “expanding” in the search field along with the city and state you are
targeting.(You can also use relocating, opening a new location, etc - these
things all cost losts of money)
2 - Next take a look at your results and choose a business you want to
approach. In this example you will see a bakery, a moving company, and a
physician. All prime prospects for a business loan.
3 - Now all you have to do is reach out to them. Click on any of the ads
that apply and then click “Apply”.
4 - Type a compelling but non-salesy message in the “cover page” section

that is brief and to-the-point. Short messages like these will get best
results. Attach a flyer in the “resume” section (we provide 9 to choose
from in the OTO) and let the flyer do the explaining.
It’s as simple as that. I would even recommend outsourcing this on

Upwork.com.
A word of Caution - You must be very non-salesy. Just provide the

info in a pleasant way. Make it short and courteous. Indeed may flag
you if you get complaints. You can always just create a new account,
but why bother with the hassle. If you want to avoid this challenge
you can research the business’s website for an email address
alternative.
5 Get Leads From Business Broker Sites
One reason business owners need capital is to buy more businesses.

Loans for business acquisition can be very lucrative. In fact, some loan
agents specialize in just this one area.
And Guess What?!
These guys and gals all hang out in the same place!
They’re called business broker sites. These sites list businesses that are
for sale. Usually, business brokers(agent who work on behalf of the
business owner to sell the business) have these sites flooded with
advertisements, but actual business owners who want to buy also
advertise on these sites as well.
Think about it this… They will actually say “I want a loan for $200,000 to
buy a restaurant.” BOOOOOM!!!
While others are paying per click for leads or shoveling lots of cash into the
pockets of lead vendors, these business owners are yelling at you to lend
them money!
Since they don’t utilize paid ads to tell you they need a loan, they are a little
harder to find, but I’ll show you a simple 2 step method right here.
1 - Go to any business broker website. For this example we will use

BizBuySell.com. Scroll to the bottom right and click on “Small Business
Forum”.
2 - Now click on “Buying a Business” and take a look at the results! Just
reach out to any of these business owners who need money.
Now I imagine, after this launch folks will be blowing up this site, so it may
be smart to search for other sites. Either way, it’s a numbers game with
this or even paid leads.
Also, take a look around the site. There are several other ways to generate
leads. If you come up with ideas, let me know!
6 The Fast Track Approach Using Fiverr
There are many vendors online for business loan leads, but you’ll quickly
find that the cost is enormous. In fact, you may find that you’ve never paid
for leads that expensive in your life!!
Here’s the solution; Fiverr. I personally use Fiverr and the banker partner
method as my primary source of leads.
If you go about business loan lead generation yourself, you will also have a
rude awakening to the cost per click and cost per lead if you don’t have
experience or know your target demographic. Some areas have horrible
conversion rates for PPC ads... Some ages do not respond well...etc.
When all is said and done, using ppc advertising with little experience or
research of your target market to generate business loan leads can reach
$50 per or more!(and $30 on the low end. It can be done, but that’s
another training)
With a professional telemarketer who only specializes in business loan and

mca(merchant cash advance) leads, you will pay only $12-$15 each.
But here’s the kicker...
Usually leads that are self generated are not qualified. Meaning, yes, they
are business owners who want money, but a lot of them will not qualify -
not even for your program.
Remember the basic criteria to get qualified for a short term business loan?
4 Months in business, $10k/mo in cash flow, 500 credit score.
A lot of self generated leads will not have one of the 3 criteria above met.
And this is fine, because it’s the name of the game with any type of sales.
You have to go through the numbers.
But what if I told you that you can get leads that are already qualified in
these three areas?
This is what the right vendor on fiverr can provide. Here’s what this means
to you.
Every lead they send you will 1- be motivated to need money now, 2-
qualify for the loan they want, and 3 - most likely have the paperwork ready
to go.
Not a bad deal huh?
Here are a couple of fiverr gigs I recommend:
https://www.fiverr.com/shahriyar9661/provide-merchant-cash-advance-lead
s-acd7d389-5492-40d0-aec7-74a16f59344a?ref_ctx_id=26330e73-6291-4
5ef-a647-6540455cfb6e
https://www.fiverr.com/neo9661/generated-business-loan-leads-for-you?co
ntext&context_referrer=search_gigs&context_type=auto&pckg_id=1&pos=5
&ref_ctx_id=c11abedb-29eb-4959-a63c-669c83221be8&funnel=6e72027c-
3f9d-4244-8a92-ddb80b737196
The first link, I have personally used. Highly recommend.

When using this paid method to get leads you will need to know what to
say when you call these business owners. Let’s dive into what to say when
you call.
7 How to Approach Small Business Owners
There are several ways to do this which includes cold calling, door
knocking, or emailing. For the motivated leads that we just covered, I
would recommend to just call them. You also need to call them within a
short time frame of receiving the lead.
Once you have them on the phone here is what you say.
Script:
Hello, this is __________ with ___________ can I speak with
____________. (if they are not available, leave a message with your
name, website, contact number) Hi, _________, I’m Michael and I work
with__________ , I’m partners with several companies that bring business
capital to business owners in ____ (their city)____ . And we tend to
specialize with bakery shops(their niche). Have you heard of this kind of
financing ? (this will tell you if this is the owner)
If they respond YES or NO:

Good! It’s really very simple, we provide you with working capital in 3-4
days as long as you have a constant flow of deposits into your bank
account or credit card processing transactions.
I know businesses are always on the lookout for more capital at the right
rates, so that they can invest more in inventory, equipment, or even just to
bump up cash flow. I’d like to email you some information on how we
provide what you want in the time you want. Can I have your ok to do this?
IF THEY SAY YES - They ARE INTERESTED

If they say no -(ask them point blank - “Do you need money for your
business right now?) If they still say no - move on. We ask this because,
maybe they weren’t listening or they just dont want to give their email right
now. Some will say YES, and you can restate how you can help them - if
they still say no, just move on. )
If they say YES: Great, I’ll get that email out very soon. Let me ask a
couple quick questions so I can get you an available capital amount.
Based on your bank deposits, what is your company’s total revenue every
month.?(this is help determine how much they qualify for - usually multiply
by .75) Also, this will help to tranfer to your lender even though you will not
be doing this work. It will make you look good and they will appreciate it to.)
And have you been in business for at least 12 months?(Yes - continue - no

- send email and put them in your drip campaign- you’ll be surprise how
many reach back out to you when 12 months approaches. )
Great!
7.1 Contacting business owners the old fashion way
If you decide to go the old fashion route(not using Fiverr or contacting

bankers) and just go visit businesses or call them on the phone this is what
to expect.
About 1 in 30 need a business loan or merchant cash advance today.

About 1 in 10 need a loan within 6 mos. So don’t get discouraged if you
talk to 20 people and none are interested because with business
funding/cash advance you really need to play the numbers. So in about 1
out of 20 or 1 out of 40 will need money and if you pitch it the right way they
will buy… almost every time.
Some business loan brokers swear by this method. They just make it a
goal to talk to 10 businesses a day and eventually they will have closed
loans every single week.
Keep in mind the ones who don’t need it, really don’t want it and it probably
doesn’t matter what you say - this is good new because you can just go to
the next one. Think about it this way. When you call them and they need
money…(we’re talking MONEY here), they will be VERY interested in what
you have to say. (there’s no convincing, no selling - they either need it or
they don’t ) So don’t waste time with the ones who don’t need it - just keep
them on your list for later.
8 Where to Find Funding Sources & How They Pay
Now that you have the basic knowledge of the mechanics involved by
providing business loan solutions for your clients, the last piece of this
puzzle is having the right partners.
It may surprise you that these short term lending companies are
everywhere. Perform a google search for business loans or no-collateral
business capital and you will find a plethora of choices. Yes, they are
somewhat similar in what they offer the business owner who needs money,
but they differ in what they have to offer a partner like you.
First you want to decide what type of partner you want to be.
● Bird dog
● Broker Agent
Whether you take the bird dog or the broker agent approach, there is no
license required. It is, however, advised to go through all of the training
provided by lending partner you choose. This will ensure you use the
appropriate terminology, have a clear understanding of their processes and
programs, and keep you “on the books” with that lender.
8.1 The Bird Dog Approach
Whether you choose to be a bird dog or a broker agent, you will have
potential to make significant money in proportion to the work involved.
With bird dogging you will only pass the prospect’s contact information to
the lending partner plus have them answer a few questions(most likely on a
web form). The lender partner will pay you a referral fee when the loan
closes and you are done. Be prepared to do a little but of follow up even
with this choice of generating income from just referring business owners.
For example, the main part of bird dogging is sending the business owner’s
information to the lending source. Information like:
● Name
● Business name
● Email
● Phone number
You’ll most likely, send this email to a dedicated email address of the
lending company. Or direct your business owner client to a web form
which may ask them specifics like loan amount, business history, number
of transactions, purpose of the loan, etc.
To ensure the best chances of a funded loan with bird dogging, you may
want to follow up some. When they initially go to the website to fill out the
form you directed them to, the lender will send them a follow up email.
Sometimes, the business owner may never see the email. Maybe it gets
lost in the flood of emails they get everyday, maybe it ends up in spam…
who knows. It’s best to give the business owner a call to say “ Hey did you
get the email from your lender?”
Even a small amount of follow up will go a long way.
8.2 The Broker Agent Approach
Being a broker agent involves the same steps as above, but with a little
extra work. Initially, you will contact your business owner prospect and
make a rough determination of their eligibility(PRE- Qualify) based on the
points below:
● Length of business history

● Monthly cash flow from sales
● Number of deposits from sale into a business account
● Rough idea of credit score
● Purpose of the loan
Along with:
● Name
● Business name
● Email
● Phone number
Still not a ton of work, but enough to get an idea if they are worth sending
to your funding source. You want to make sure that, through experience,
your lending partner LOOKS FORWARD to getting your business. It’s also
good practice and professional to send them workable deals so that they
LIKE to hear from you and go a little further for you to make a deal work
because they know you are pre-qualifying the client upfront.
You will also gather the few documents needed by your lending source and
assist with any other needed requirements up until closing day. You may
even present the offer terms once you feel comfortable.
This is super easy because you will be told what you need, but you will also
have a list of document requirements on hand(we also provided this list
above). In exchange, the lending source will pay you an even higher
commission which we will cover in the next section of this training.
9 An Average Deal Payout

Before diving in, we need to understand that you will be working for a
‘success’ fee, meaning… if the loan doesn’t fund, there will be no
commission paid. Also, overall income is based on results produced by
the bird dog or broker agent. So, yes, there’s no guarantee, but there is
also no ceiling!
I do my best to only mention conservative numbers so that if you are willing

to work and follow this simple model, you can very well be one who finds
results that are more than satisfying.
You will find that lending companies for this financing type want to make it
worth your while. And their compensation plans are built so that you can
earn a full time income on your efforts alone!
Their culture is one of drawing in new clients. Much different from the
stuffy and cold-shouldered image of traditional banks, these companies
want you to succeed while doing what they can to help you and your
clients.
So if you are a determined person who isn’t afraid of a little work and
consistency, you can get what you want this year… maybe even this
month!
And if you’ve come this far in the training, I know you are not like most.
You must be serious of about something. Whether it’s goals for your family
like taking your children to Disney World… or paying down some debt… or
telling your boss to take a hike… or just making your husband or wife proud
of you… this can be the vehicle that takes you there.
And what if it is? How will you feel once you start to check off your list of
accomplishments because of this simple choice you have made. Will you
feel proud? Or maybe it will be a feeling of ease because your head is
above water now from the options you’ve created. Imagine the feeling and
imagine it often. Then go to work with the feeling in mind.
Here’s a bird’s eye view of what kind of income you can create from helping
another business owner get their hands on the capital they need.
9.1 Getting Paid as a Bird Dog
Let’s take a look at what an average loan of $80,000 will pay you.
To keep things simple it’s good to know that the bird dog cannot generate
any other income, bonuses, trips, etc other than the 2% commission. This
commission is generally paid within a week of the loan funding(this means
when the loan docs are signed, and money has hit your client’s bank
account).
If you would rather act as a bird dog alone and just refer the client’s
information, the commission structure should be close to a straight 2%
commission with no increase in commissions based on production, no
bonuses, and no trips. This is still extraordinary and you can still earn a
pleasing income by just closing 2 - 4 loans each month as a bird dog:
2 average size loans(80k) funded per month @ 2% = $3,200/mo

4 average size loans(80k) funded per month @ 2% = $6,400/mo
This can equal a $38,000 - $77,000 per year side gig for just referring
business owner info as a Bird Dog!
9.2 Getting Paid as a Broker Agent
Now we’ll review what a small adjustment in activity can do to your income
as a Broker Agent or Loan Agent. If the Broker Agent road is chosen by
the consultant, they will have a chance to earn greater income than a bird
dog by leveraging better commission models and extra income
opportunities in exchange for a minimal amount of added hand-holding for
your business client.
Commission minimums are generally 2.5% which can increase to 4% with
certain production increases. This commission is generally paid within a
week of the loan funding(this means when the loan docs are signed, and
money has hit your client’s bank account). Let’s look at an average size
loan of $80k for this example.
$80,000 loan amount @ 2.5% commission = $2000

$80,000 loan amount @ 4% commission = $3200
Now one loan a week is very attainable for those with consistent lead
generating activity. Consistency is the key word, of course.
1 average size loan funded per week @ 2.5% = $8,000/mo

1 average size loan funded per week @ 4% = $12,800/mo
Remember if you are producing just one closed loan each week, you will
most likely be getting a commission of more than 2.5% for some
companies. This means the first example is most likely non-applicable if
you are producing 1 or more loans each week. This also means that just
one loan every week can produce a commendable six figure yearly income.
Four $80k closed loans/mo = $153,600/yr

9.3 Other Income Opportunities
As a Broker Agent you will also have a shot at other income opportunities.
With consistent production you may even receive monetary bonuses and
trips. So remember… you are paid on results, not your efforts or attempts.
This is extremely liberating! And there is no cap to your income potential.
I’ve been able to generate enough production to win all expense paid trips
to five star resorts like the Fountaine Bleau in Miami Florida. SO they don’t
skimp on their rewards program. Here’s a photo of the view from the VIP
room balcony they gave us on our first trip there.
In additions to trips, with consistent production, your commission

arrangements will increase. It’s usually based on your previous months’
production. Let me give you a generic example:
2 Closed loans in your previous month = An increase bonus to 3%

4 Closed loans in your previous month = An increase bonus to 3.5%
5 closed loans in the previous month = An increase bonus to 4%
(This is very general. The lending partner you choose will have a
commission structure that varies from the above example)
There are even opportunities to run a virtual agency by hiring your own
broker agents on your team to produce deals. This is where you can build a
business that generates a true residual income.
And speaking of residuals, if you only produced for yourself, you even get
commissions on the funded client’s that renew their loan. When a current
client has sufficient payment history, they have a chance to renew and add
to their loan limit. It is essentially refinancing their present loan with a
higher amount if they need extra funds for other projects.
10 Where to Turn to Partner With a Business Loan Broker
There are many Loan Brokers out there to partner with, but it’s very
important to realize what to look for before making your decision on who to
use. Here are 3 simple qualities to look for:
● Variety
● Support
● Training
Variety meaning your business capital broker partner will most likely be a
company that finds the right lending source FOR your client. I know I
have referred to these companies as “lenders”, but in reality they are not
the actual lenders.
It is common practice, when speaking with those in this field, to hear the
word “lender” in general conversation with business owners. To be exact
though, these companies are “brokers” because they send your client’s file
to several “lending/lender sources” in order to find the best deal for your
business owner client.
You want a broker or “lender” who can offer many different lending sources
or Variety to your client.
You also want a partner who offers adequate support. Support that is
happy to help and not support who only caters to seasoned loan agents.
This would be ideal if they have a dedicated phone number for broker
agents to call with any questions while out in the field.
Lastly, you will need training. Even though this training program will give
you a solid foundation of knowledge like the nuts and bolts of what is
required to get a loan funded, each company is different. Different because
their processes can vary.
Because of this, you will need training to gain knowledge of how they work
and what they expect.
In addition, they may have different lenders in their portfolio. You will need
training on their core line product so that you can be that much more
effective in the field.
With the three areas above covered I will now offer 2 Broker/lender
recommendations.
1 - GoKapital
Once registered with GoKapital you will have access to their training and
support material. If you ever wanted to expand your arsenal of loan types,
they also offer secured loans, commercial mortgages, invoice factoring,
and more.
The process is very simple. Just go to

https://www.gokapital.com/business-loans-affiliate-program/ and follow
three simple steps. First register. Second promote. Third get paid! You’ll
have access to their variety, support, and training. They even have paid
programs for monthly leads and business cards.
2 - David Allen Capital
Disclaimer: I am a current broker agent for David Allen Capital. If you use this link, I will
stand the chance of making money from your sales… which is music to my ears! Also,
you could have me as a resource and ongoing support.
Based out of Michigan, this company offers weekly training, a dedicated

support line and email, and the option to hire other agents to multiply your
efforts to create a virtual agency.
Their specialty is short term business loans only.
To sign up go to www.davidallencapital.com/102135044 Then go to the

bottom right and click on “Partner with us”.
11 Wrapping Things Up
You now have enough knowledge to get started with your business loan
business. Like anything worth doing, it will take some work and
consistency, but the rewards can be great.
This is not an idea, theory, or another over-hyped sales fad. Broker Agents
and Bird Dogs all over the country are making serious money with this
vehicle right now. The short term business loan is here to stay and many
business owners need what you have to offer. In fact, they’ve looked to
banks for help thinking this was there only option.
If you’ve come this far, I am guessing you feel this is not only a needed
service for your future and present clients, but a vital service for a large
portion of business owners today.
They now have another option. An Option they may have not known about.
This option is YOU… and my suggestion is to jump in with both feet!
Follow the few powerful steps in this program consistently while knowing
that the seeds of your efforts will grow… maybe even flourish in proportion
to your activity, results, and mindset.
I am here to help if you have any questions. I look forward to hearing about
your success stories!
-Mike Paul

Local Freelance Funding Formula

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Local Freelance Funding Formula

Local Freelance Funding Formula

Intro to Local Freelance Funding Formula 4

1 The Mechanics of Small Business Funding Sources of old 6

2 Small Business Funding Sources of NEW Explained 8

2.1 What Are The Requirements to Get Approved? 9

2.3 How Do These Loans Help? 12

2.4 Paying Back a Short Term Business Loan 15

3 How to Get High Quality Leads From Local Bank Turn-downs 16

3.1 How to Easily Find Bankers 19

3.2 Using Linkedin and Hunter.io to get banker emails 20

3.3 What to Say To Get Bankers To Respond 26

3.4 Staying in Touch 31

4 Getting Targeted Leads Through Indeed 32

5 Get Leads From Business Broker Sites 37

6 The Fast Track Approach Using Fiverr 40

7 How to Approach Small Business Owners 42

7.1 Contacting business owners the old fashion way 44

8 Where to Find Funding Sources & How They Pay 44

8.1 The Bird Dog Approach 45

8.2 The Broker Agent Approach 46

9 An Average Deal Payout 48

9.1 Getting Paid as a Bird Dog 49

9.2 Getting Paid as a Broker Agent 50

9.3 Other Income Opportunities 51

10 Where to Turn to Partner With a Business Loan Broker 53

NO GUARANTEE OF EARNINGS, PROMISES, OR REPRESENTATIONS:

Intro to Local Freelance Funding Formula

Coming from an ex-real estate agent and a current small business

We’ll get back to this in a moment.

As we begin it is important, however, to understand the need to be

1 The Mechanics of Small Business Funding Sources of old

2 Small Business Funding Sources of NEW Explained

● And much more.

2.1 What Are The Requirements to Get Approved?

● At least 4 months in business

This is nothing compared to what traditional banks require as mentioned

1. Generally, a one page E-App or paper application

Typically, this is all they need!

Let’s continue to discuss the aspect of this loan type compared to

In addition to collateral, there is a gauntlet of underwriting rigmarole that the

So what about the short term business loans? What’s given up in

2.3 How Do These Loans Help?

Do you get the picture? Here’s another.

A business owner secures a large contract to produce goods for a large

2.4 Paying Back a Short Term Business Loan

Frequently, a short term business loan may use a different structure to

WIth a Merchant Cash Advance, the business owner agrees to have

It is very important to at least has a baseline understanding of these loans

3 How to Get High Quality Leads From Local Bank

Here’s what YOUR criteria is(your lending partner criteria):

4 Months business history

mortgage lender or broker? Have they ever stopped by your home or

I’m guessing your answer is no. Although, many do advertise online or in

REAL ESTATE AGENTS.

Here’s how it works. A moderately producing agent will have a “hip-pocket”

Remember, 8 out of 10 business loans through a bank will get turned

3.1 How to Easily Find Bankers

Most bank organizations have a common pattern for email addresses

Here is how we take advantage of this knowledge. We will use 2 tools to

3.2 Using Linkedin and Hunter.io to get banker emails

https://www.linkedin.com/​ (you’ll be prompted to sign up when the page

https://hunter.io/​ (Click top right to sign up for a free account)

https://www.linkedin.com/ (you’ll be prompted to sign up when the page

https://hunter.io/ (Click top right to sign up for a free account)

4 - Type a compelling but non-salesy message in the “cover page” section

A word of Caution - You must be very non-salesy. Just provide the

One reason business owners need capital is to buy more businesses.

1 - Go to any business broker website. For this example we will use