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With Global, you will learn how to make commissions up to 15% on transactions from $5,000 to $500 million or more
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How Much Money Can I Earn?
The first question that comes to everyone's mind is how much can I earn? Being a financial broker will give you the opportunity to earn the income you have always wanted. You will be able to:
Make commissions up to 15% on transactions from $5,000 to $500+ million
Make one time commissions and on-going fees resulting in high monthly incomes
You are NOT at financial risk, even if the client defaults
You are paid the day the loan closes
At Global, we are often using the line “work smart, not hard”. Often people make the mistake, thinking that working smart means working less. The truth is that people that work smart, work very hard. The difference is that working smart means that time is utilized in a way that you use your time wisely. In this business, what you put in is what you will get out, the sky’s the limit. This is a field with no limitations on income.
During the Global Financial Training Program, we will teach you how to meet your financial and lifestyle objectives. At Global, we use the 60-30-10 rule, which is a formula that we have been using for years and will continue using for years to come. It is the breakdown of the percentage of time you should be spending in certain areas so that you are not wasting your precious time.
You should be spending:
60% of your time on Transactions based on one-time fees
30% of your time on Residual Income Accounts
10% of your time on Large/Mega Transactions
Transactions based on one-time fees
We call these transactions our “bread and butter” transactions. The reason for that is because commercial loans yield very large commissions. These types of transactions have a quick turnaround time and you can do many of these deals a month. You will have many loan products that fall into this category.
A few of these loans, amongst the many you can offer, would be:
Equipment Leasing: you can earn up to 15 points of the total cost.
Example: $50,000 equipment loan at 15%=$ 7,500
SBA Loans can bring you 2-3% of the loan amount
Example: $1,000,000 at 3% = $30,000 commission
You can see the income you can generate by just doing 2-3 of these types of transactions a month. They open and close quickly and don’t require that much work to get these done. Your commission is paid on the closing of the deal, which means that you don’t need to wait to collect your money. In addition, you are dealing directly with your lenders so you are keeping 100% of your commission.
Residual Income Accounts
Residual income means that you will be receiving an ongoing commission every month. We call these the “set it and forget it” transactions. Building steady residual income can carry your business for years to come. You can achieve this by offering certain loan products or by building vendor relationships. This is worth substantial dollars should you decide to sell your company.
Accounts Receivable Financing and Factoring are probably one of the most needed types of financing for businesses especially newer businesses that are not yet established.
When a company goes into business selling a product or providing a service, they invoice the company and usually wait sixty to ninety days or more to get paid. This is a real problem for the business owner because they need cash flow to operate their business. You will be able to provide them with financing where the funding source will lend them up to 85% of the outstanding invoices and get paid back when the customer pays the invoice.
To explain how this type of financing works, let’s take a $100,000 invoice as an example. The lender would advance to your client 85% or $85,000. When the invoice is finally paid the lender will give them the 15% hold back less the interest charge for the time the invoice was outstanding.
The way you make a lot of money is you share the profits that the Lender makes on each account, every month. The Lenders will pay you between 10-15% a month of their gross profits. That is every month for as long as your client finances with the Lender. On average a client stays with the lender for 3-5 years or longer which converts into you collecting a check for 3-5 years or longer, month in and month out.
Usually when a company has working capital upfront, their companies will expand and grow as well, increasing your commission as well.
After a while, these “shared profits” build as you add to your portfolio creating a substantial source of residual or repeat income. You sell them once and they pay you for years.
Example: A small company that does around $2 million a year in volume will generate a commission of approximately $2300 to $2700 a month for the life of the loan and that will increase as the company grows.
Vendors will become your best friends when it comes to residual income. By developing a relationship with Vendors or suppliers of equipment, you are creating a sales force with no overhead. As they sell their equipment and their customers need financing, they are sending you transactions. You become their in-house finance company and help them increase sales while increasing your own profits.
Vendors could easily be able to send in five to ten transactions a month and in some cases much more. If you work with your Vendors you will see the dollars add up simply by answering the phone or receiving an application. Again this is what the industry calls residual income. Money you make each year with little further effort.
An example: a vendor sells $50,000 piece of equipment. You make 10% or $5,000. That same vendor sells 3-5 pieces of equipment each month. In your first year you should be able to open up 3 to 5 vendors....once again, you do the math!
Large or Mega Transactions
Large or mega transactions are more complicated and take longer to structure and close but when they do close, it means very large commissions for the broker. We call these “home runs” and we all know how often and how many ball games get won solely on the basis of “home runs”. Very few! They are great when they happen but all kinds of issues are possible that interfere with a successful outcome.
Excluding commercial real estate, which can exceed over $50 million, we define this category as anything that exceeds $10 million in loan principle.
Do “home runs” exist? Absolutely! One of our students completed a deal worth $115 million. It took him 8 months and he almost lost the deal three times, but he got it. It was a great payday making him approximately a $1 million dollar commission. While this is more than most people make in many years, your home mortgage bank is not waiting 8 months for you to close a deal, so it’s important to put these large deals in the right perspective.
We will teach you how to do these types of deals and provide you with the tools to do so but suggest not overspending time in this area as you will need the” bread and butter” and “set it and forget it” deals to carry you through the in-between times.
You Define Your Success
Once you understand all the transactions you can fund, you will be able to control your efforts which will allow you to define your own success.
So, do a little math. This is where you should take out a pad and paper and figure out, what is your objective and what is your level of willingness to “go after” a real substantial income and a great lifestyle.
If you follow the 60-30-10 rule, you will see that what you can earn, can add up pretty quickly. Close 2-3 deals a month and you will find yourself earning a 6 figure income.
Whether you want to make $50,000, $250,000, or $1,000,000+, the limitless opportunities are there. The finance business is such that you can truly earn what you want and best of all you can work where you want when you want. That’s what we call “WORKING SMART NOT HARD”.