A loan broker is an intermediary between individuals or businesses seeking loans and lenders (such as banks, credit unions, or private lenders). Their primary role is to help borrowers find suitable financing options while assisting lenders in finding creditworthy borrowers. The responsibilities of a loan broker include the following:
1. Understanding Client Needs
- Consult with Borrowers: Meet with clients (individuals or businesses) to assess their financial needs, goals, and the type of loan they are seeking (e.g., mortgage, personal loan, business loan).
- Analyze Financial Situation: Gather financial information, including credit history, income, assets, liabilities, and business plans (for business loans), to understand the borrower's qualifications and requirements.
2. Loan Product Research and Recommendation
- Identify Suitable Loan Options: Research various loan products available from different lenders to find the best terms, interest rates, and repayment schedules based on the client’s needs and qualifications.
- Present Loan Options: Present and explain different loan options to clients, providing clear details on terms, interest rates, fees, and conditions.
3. Loan Approval and Disbursement
- Monitor Loan Approval Process: Keep clients informed about the status of their loan applications and follow up with lenders as needed to ensure timely approval.
- Assist in Finalizing the Loan: Once a loan is approved, assist the borrower with the final steps of the loan agreement, ensuring that all legal and contractual documentation is properly completed.
4. Building Relationships
- Maintain Relationships with Lenders: Develop and maintain strong relationships with a network of lenders to provide clients with a variety of loan options.
- Client Retention: Build long-term relationships with clients by offering ongoing support for future borrowing needs and refinancing options.
In summary, a loan broker acts as a trusted intermediary who helps borrowers secure loans that align with their financial needs and helps lenders find suitable borrowers. They play a critical role in streamlining the loan application process, negotiating favorable terms, and ensuring that both parties are satisfied with the loan agreement.
Requirements:
- No experience required. Only Singaporeans and SPR are welcome
- Fresh graduates are welcome to apply
- Disipline and self motivated
- Highly motivated with a strong desire to excel
- Excellent communication, negotiation, and closing skills
- Able to work independently in a fast-moving environment
Working Hours:
Monday to Friday 10:00am -5.00pm
We are closed on weekends and PH
Only shortlisted candidates will be notified.
