Loan Broker Network Review: Phillip F. Smith Scam?

Loan Broker Network Review: Phillip F. Smith Scam?

Today, we’re going to talk about Phillip F. Smith’s Loan Broker Network. Is this program legit? Find out in this Loan Broker Network review.

A growing number of people are becoming aware that they can do more than just being stuck on a 9-5 job. Especially now that they’re even more stressed with it.

As if their previous work conditions aren’t stressful enough, now they’re more exposed to it. With no thanks to the pandemic. Even worse, most of these employees are not properly compensated for this.

Even when the company has employed a work-from-home setup for its workers, problems may still occur. Especially when some of their superiors feel like it’s “proper” to call their employees for work-related concerns way after their designated work hours.

With these conditions, it’s no wonder now why most workers eventually quit their current job. And are now pursuing entrepreneurship opportunities.

This is the main reason why online programs like the Loan Broker Network are made. To teach those interested a new business opportunity.

The question is, is the opportunity that it will give you the right idea for you?

Before you go ahead and join this program, it’s better to read this Loan Broker Network review first. And hopefully, this can help you decide if you can benefit from this, or not.

This is a completely independent, and neutral Loan Broker Network review, based on my observation and honest opinion. As such, you won’t find any affiliated links for Loan Broker Network, as I’m not an affiliate of them.

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What Is The Loan Broker Network?

Loan Broker Network

The Loan Broker Network is a program that aims to give users a new idea for an online business. This time, the business opportunity they’re teaching is for you to be a loan broker.

As a loan broker, the idea is you’ll be finding several businesses that needed funding for themselves. And then find certain alternative financing solutions from which these businesses can get a loan.  And when the deals are closed, you can earn a commission from them.

The creators of this program claim that this business idea is effective and lucrative because of the following reasons:

  • You’re tapping into a billion-dollar infrastructure that has very low competition. Since right now, millions and millions of businesses needed to find alternative sources of loans other than the bank.
  • You don’t even need a license of any sort to take advantage of this business.

Another advantage that you’ll get from the Loan Broker Network is that even if the client business in question gets declined on a loan, you’ll still earn a commission. Because, as they explain, the majority of the market consists of companies that don’t qualify for funding.

Loan Broker Network is basically a “done-for-you” business program, where instead of you doing all the work, they’ll “do all the heavy lifting and close the deals for you”. And all you have to do is to collect your commissions.

Thus, don’t expect any training on sales techniques or anything from this program, at all.

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The People Behind Loan Broker Network

The Loan Broker Network is is founded and headlined by a team of two people.

They are Phillip F. Smith and Kevin Harrington.

oan Broker Network - Phillip F. Smith

Phillip F. Smith has over 20 years of experience as a serial entrepreneur. He has sold three businesses before and has been included in the Inc. 5000 list of the country’s fastest-growing private firms three years in a row.

He has worked with local enterprises as well as huge corporations such as IBM, Intel, AT&T, and HP. He claims to have an innate ability to figure out how to assist businesses in scaling their operations.

Phil opted to concentrate on his own brand in 2018. He has also been interviewed several times on television and radio. Finally, he’s also a speaker and a Forbes and Inc.com writer.

And for the Loan Broker Network, he’s currently collaborating with Kevin Harrington.

oan Broker Network - Kevin Harrington

Kevin Harrington, on the other hand, has an impressive track record of empowering entrepreneurs and visionary company leaders to convert their goals into mind-boggling reality for over 30 years.

He’s mostly known for his tenure on the hit American business reality television series Shark Tank, where he is one of the original “sharks”, their term for company investors.

He is credited for launching the modern format of infomercials today. He saw the late night and early morning dead air time on cable networks as an opportunity to show infomercials during that time period. And that format has been used ever since.

He was also a co-founder, and a former CEO, of HSN Direct International Inc. And during his tenure, he has launched several successful products, and worked with several celebrities.

What Can You Get From The Loan Broker Network?

Here is everything that you’ll get, once you joined in the Load Broker Network program.

  • Access to a 35-man team that has the experience and good track record of closing millions worth of loan deals.
  • All types of loans are covered by this business model. From purchase order financing, startup loans, lines of credit, equipment financing, accounts receivable financing, SBA loans, credit card stacking, business acquisition loans, merchant cash advance, etc.
  • Your loan brokerage business will be entirely done-for-you, so you don’t have to do any hard work. The team will handle it for you.
  • 10% commission on every successful funded deal you make. For example, closing a $70,000 worth of loans will net you $7,000 in commissions.
  • If your client company gets declined for the deal, you’ll still earn at least $2,000.
  • Access to their private Facebook group.
  • Lead Generation Training
  • The option to buy leads
  • Exclusive online training and the proper guidance to get you started
  • Join the thousands of existing Loan Brokers in the network for unlimited support and assistance
  • Exclusive invites to mastermind sessions, whether live or online

How Much Does The Loan Broker Network Cost?

The initial cost for joining the Loan Broker Network is set at $597. But they also offer a “fasttrack program”  that costs around $3,000-$5,000. The benefits of the fasttrack program can’t be really determined, but you can already guess it by the name…

I personally think that, for a new business idea, it’s too expensive.While these “done-for-you” systems take away the all the hard work of setting up and running your business, the disadvantage is that not all people can afford this service.

Besides, won’t it be better if you’re given quality training on how you can set up your business?

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Will You Recommend Joining The Loan Broker Network?

For me, the Loan Broker Network is a high-quality and legitimate moneymaking program that leverages a highly profitable industry. After all, at some point, people may need to apply for a loan when starting a new business.

For example, when someone wants to invest in real estate (though sometimes, it’s not needed).

Therefore, if you’re someone who’s interested in the loan brokerage industry, then this program is for. It’s also a good program for anyone who wants to add a new income stream to their arsenal.

HOWEVER…

The pricing of this program, means that it’s definitely not for anyone. It’s just too high, and not anyone can afford it. It’s like, it’s only intended for people who already have a good amount of capital on their hands, and wishes to earn more.

When in fact, most people who usually look for ways to make money online, usually start with almost nothing but their desire to learn a new skill. If it only came with a good amount of training on how to be a loan broker (and not just on lead generation), then this program could be much better.

Then again, there are plenty of other online course that offer better training in lead generation. Such as this one

Loan Broker Network Review: Pros And Cons

Pros

  • The creator of this course, Phillip F. Smith, is definitely legitimate. If he’s able to be partners with someone like Kevin Harrington, then there’s no doubt about his credibility.
  • The business model is currently unsaturated, and even in demand. So there’s a good chance that you’ll never run out of clients to work with.
  • Everything about this program is “done-for-you”, so you only need minimal work to run this business, while an expert team takes care of the heavy work.
  • The commissions you can earn are lucrative enough. And the fact that you still at least earn a bit even when a client gets rejected for a loan, is a plus.
  • If a reputable name like Kevin Harrington is involved in thos program, then there’s no doubt about the quality of these courses.

Cons

  • It’s just too expensive. Hence, not everyone can take advantage of this (and it seems like they intended it to be).
  • There’s absolutely no training about loan brokerage here at all, because everything is “done-for-you”.
  • Lead generation training could be better.

Loan Broker Network Review: Final Thoughts

Relaxation

Before I end this Loan Broker Network review, I would like to share a few more insights that could help you.

After reading this review, I hope you already understand that dedication and hard work are the keys to success. You simply can’t produce money out of thin air. And you can’t expect to be amazing at something after just one attempt.

Discover your passion and customize your skill set to your life goals. Spend time and effort into something before expecting it to bear fruit.

You must put up the effort if you want to be successful. You must conquer whatever that stands in your way. Make a case for yourself.

Keep in mind that certain things aren’t designed for you. Therefore it’s up to you to figure out which professional route is best for you.

There are a lot of options you can pursue. I am confident that you can achieve anything you want as long as you put your heart and soul into it.

Thus, if you feel something like the Loan Broker Network is something that you can’t (or won’t) do because of its high price ceiling, don’t lose hope at all.

Plenty of opportunities to build your own business always exist. In fact, I’m here to recommend you something that has worked wonders for me.

If you want to find out about it, keep on reading beyond this Loan Broker Network review.

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This opportunity is a good one, and it’s guaranteed to give you great results.

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See you on the other side.

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  1. TD
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