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but they know of individuals or business looking for help.  
When you do get a referral, be sure to elicit as much 
information as possible, then make a contact with them. You 
can also send out letters in search of lenders or private 
investors. All of these efforts are helpful in establishing 
and building your business. When you have put a loan or an 
investment proposal together, and you intend to sell it to a 
lender, you should first call the lending officer or the 
head of that lending organization. If you want to present 
your package to a private investor, you will more than 
likely have to call his attorney, broker or investment 
counselor. The purpose of your telephone call is to set up 
an appointment in order to present your package in person. 
Thus, during the course of this telephone call, you should 
brief the lender on the highlights of your client's loan 
proposal.  
If he's interested, he'll probably want you to send him a 
written summary. After he's received the summary and decided 
he's interested, he'll get back to you and set up an 
interview with you, and then with you and your client. You 
and the borrower should rehearse the entire loan proposal 
and have all examples, charts and graphic illustrations 
ready to go for a winning presentation. Any lender willing 
to listen at all wants to hear the full story, and when they 
have a question, they want the answer without hesitation. So 
be sure you're ready when you show up for that loan-selling 
interview - with a complete presentation. Once you start 
processing loan applications, you'll find that about 80 
percent of the loans granted to small businesses are made by 
commercial banks. A few more than ten percent are made by 
friends or relatives of the borrower, and about three 
percent by finance companies. Another three percent will be 
granted by insurance companies. This will give you an idea 
of possible money sources for your clients.  
You must remember, when a prospective borrower tells you how 
much money he needs, and what he wants to use it for, it is 
your job to evaluate his proposal and match his particular 
proposal with sources likely to be interested. As you build 
your list of money sources, you will find those that 
specialize in specific categories of loans - for apartment 
buildings, medical facilities, recreation setups, and a 
myriad of others. Most money brokers cultivate the savings 
and loan companies, union pension funds, life insurance 
trust companies, credit unions, private investor groups, and 
even the small loan companies. The important thing to 
remember is that if you're going to bring together people 
needing money and people with money to lend, you have to 
continually develop contacts in order to build your list of 
money sources. It is very helpful to get to know your local 
bank officials because oftentimes they can refer you to a 
person you can really serve, because he doesn't qualify for 
a bank loan.  
You will learn also that most sources of venture capital - 
money for business start- ups - want an equity share of the 
business. They generally don't require that the money they 
put up be repaid, because they're hoping to make their 
profit from a share of the business as it grows and becomes 
more and more profitable. They especially like to get in on 
the "ground floor" of small companies who plan to issue 
public shares of stock when they begin to grow. Still 
another angle that money brokers should develop is contact 
with a number of people who might be interested in investing 
as silent partners in new or growing business ventures. 
Silent partners invest in a business without assuming any 
liability relative to debts the business may incur, while 
still sharing in the total profits of the business.  
In most areas of the country, there are always a number of 
wealthy people around who are interested in investing small 
amounts of money in any number of business ventures - 
sometimes as many as they can get in on. Until you've 
actually placed a few loans, you're undoubtedly going to 
occasionally spend a lot of time attempting to sell a loan 
that just can't be sold. You will have to develop your skill 
in evaluating from the facts your borrower gives you, the 
possibility of obtaining a loan for him. Your evaluation 
will be based upon how much he wants, for how long, and 
terms (time period and interest rate), his past business 
experience, and the feasibility of his plan for success in 
the planned business. While it does take some time and 
concentration to differentiate the "winners" from the 
"losers," be aware from the beginning, and you will be less 
likely to be caught up in efforts to place a loan that just 
can't be placed. Of primary importance to your lenders is 
your client's collateral, which would assure repayment of 
the loan in the event of failure of the business. Lenders 
won't even listen to, or bother to look at a proposal that 
is not backed up with realistic collateral to support the 
loan. And you may count on this: They will call you on any 
profit projections based only on your borrower's glowing 
predictions. These are the things you as a money broker must 
evaluate before getting too deeply involved.  
If the loan doesn't have the look of at least an even chance 
of being approved, better to give it to your client 
straight. It will save him grief in the long run, and will 
allow you to go on to another proposal with better chances 
of success. When you go into the matter of collateral with a 
client, by all means be thorough and inquisitive in working 
with him. Many borrowers have collateral they have never 
thought of in terms of security. For instance, antiques, 
coin or stamp collections, life insurance policies, even a 
wealthy friend or so who would sign as guarantor(s) of a 
loan. Remember also any accounts receivable, promissory 
notes, machinery and equipment, and any real estate equity. 
When you've listed all the collateral that can be dug up, 
you have to demonstrate very clearly just how the loan is 
going to be repaid - and particularly if the business fails. 
Collateral is a necessary part of any loan transaction, but 
it usually is not enough to satisfy the entire face value of 
the loan. Thus, in addition to collateral, the borrower has