The Key to Sourcing Commercial Loans

When we develop a brand for a financial client, as part of onboarding we discuss ways that we can help our clients obtain leads for their business.

One of the topics that always comes to discussion is How to Source Small-Balance Commercial Marketing Leads
One of the main reasons why residential originators are hesitant to break into the commercial lending space is because of leads.

Where do I find them? How do I get them?
These are questions you may be asking yourself right now. The good news is the process of building your commercial business is easier than you think. In fact, you probably have commercial sourcing channels within your network already!

Here are some of the most effective channels for sourcing new prospects:

1. Banks
Typical bank underwriting requirements restrict them from lending to a wide range of credit-worthy borrowers. Instead of issuing a flat denial, many banks attempt to appease their clients by referring them to a professional who can better meet their needs. You can be that professional!

Banks are a great source of leads because their turndowns are already pre-screened for you. If you have a strong relationship with a bank loan officer, you can get all the prospect information you need without having to do the digging yourself.

2. Existing Residential Clients
Think about the clients you work with on a daily basis. If they own residential properties, chances are they either a) also own commercial properties or b) are looking to buy a commercial space. They could be the perfect prospect for your commercial business.

Pro-tip: Check the 1003 section of your closed loan files to see if your clients are in possession of commercial real estate. Since commercial mortgages usually last 5-7 years, there is a good chance those clients need assistance with their refinance.

You can also find potential commercial leads by identifying the self-employed and small professional clients within your database. Those who run their own practice are frequently looking to purchase a commercial property.

3. Trade Shows and Events
Business-to-Business networking events, chambers of commerce events, and tradeshows are excellent resources for growing your personal business network. Not only are these events full of networking opportunities, you can also improve your expertise by attending panel discussions and workshops.

4. Social Media Marketing
Now more than ever, it’s crucial to have a presence online. If your customers are online, so should you. Every post, every share, and every like is an opportunity for you to make a connection with a potential lead.

My suggestion? Stick to LinkedIn. While each social network can be valuable to your business, this platform makes the most sense for individuals in the mortgage industry. Add commercial lending terms to your profile so that potential networking partners can easily find you online. Then make an effort to join and participate in relevant discussion groups.

Once you start successfully closing commercial deals, think of ways to communicate that success through your LinkedIn profile. Many originators choose to create and share closed loan graphics that highlight the loan amount, property type, and reason why their client needed a professional’s help.

5. Appraisers, Title Companies, Accountants, Etc.
The organizations listed above all serve different purposes, but they have one thing in common: constant access to your target borrower.

Establishing close connections with professionals from these types of companies will get you access to more


opportunities each month. And like those from bank partners, the scenarios you receive from these partners will already be pre-screened. That means less work for you!

Related Articles