What if you can make 7 figures per month by lending other people’s money? Sounds crazy? Oz Konar assures that it isn’t. He claims that ordinary people without business lending experience have been making 5 to 6 figures a month after joining his program.
Business Lending Blueprint is a step-by-step training on how to become a business loan broker. This program is for aspiring loan brokers who want to grow from 0 to $25k in under 60 days. It was launched in February 2018 and is now one of the fastest-growing U.S. companies recognized by Inc. 5000. The course costs $2,197 upfront. You can also pay in three installments of $845. Business Lending Blueprint has a 90-day conditional refund policy. The fee includes
a 6-module video training,
weekly one-on-one calls with a designated business coach,
weekly Q&A with Konar and,
U.S.-based customer support.
Oguz (Oz) Konar is the creator of Business Lending Blueprint. He is a 7 figure business consultant and serial entrepreneur from New York City. He has a long sales and business history. His professional sales career started after he graduated from Montclair State University in 2009. He landed a job as a territory manager for Heartland Payment Systems. Oz realized he wanted to be his own boss. So, he started his first agency in 2013, Local Marketing Stars. Five years later, he found the opportunity to launch Business Lending Blueprint. His business grew to over 11 countries. Oz published several books to share his success as a loan broker and business consultant. His two published books are The Ultimate Guide to Online Marketing For Small Businesses and Start-Ups and Ways To Grow Your Practice In The New Age Of Marketing. Aside from Business Lending Blueprint, Konar offers three other programs: Business Credit Success Blueprint, Business Lending Mastermind, and Commercial Loan Broker Training. With a wealth of experience and business success, I’m not surprised famous publications like Huffington Post and Entrepreneur feature him.
Business Lending Blueprint and the Lending Brokerage Business Model
Business lending is a legitimate business opportunity. It’s an evergreen niche, it’s not saturated, and the biz is recession-proof. It’s also a multiple-income stream business because you earn from residual income, repeat loans, and commissions. Business loans are always in demand no matter the market condition. So, you’ll never run out of customers. Oz is a qualified business lending coach because he’s been in business for over a decade. He has a wealth of business experience which he can impart to aspiring entrepreneurs.
There are many testimonials from Oz’s students online. But, it’s hard to distinguish whether they’re authentic or sponsored. Business Lending Blueprint has a 4.8-star rating on Trustpilot out of 48 reviews given. One particularly caught my attention because of how detailed the review is. It’s a one-star review of a former student by the name ‘Greg’. The review is dated June 17, 2022. It enumerates 8 cons of the course, which include deceptive marketing, low-quality material, and questionable testimonials. He also emphasized that it’s very hard to get a refund because certain conditions are almost unattainable.
Oz is right when he said there are lots of business opportunities in loan brokerage. The Federal Reserve Banks’ Small Business Credit Survey found that 59% of small businesses have poor financial standing. This means they’re very likely to avail of a loan to sustain operations or grow the business. Alternative loans are increasing in popularity since banks tightened their loan approval terms following the pandemic. Small business owners who were declined financing by the bank explore lending alternatives.
Small businesses that apply for financing from banks dropped to 34% in 2021 according to the Federal Reserve data. Only 31% of this number were granted the full loan they were seeking. The latest Biz2Credit Small Business Lending Index reports that the business loan approval rate dropped to 13.3% as of July 2023. As an effect of this decline, alternative lending institutions have seen a steady increase in approval rates in the last 9 months. The approval rate of lending alternatives increased to 29.3% according to the same report.
There’s an income opportunity in loan brokerage. The average annual salary of brokers in the U.S. is $77,133 according to Indeed. The potential annual commission is $44K. Even though it's a legitimate business opportunity, it’s probably not the best biz for beginners and career shifters. The income potential is fair. But it's not enticing enough to commit to all the responsibilities and risks that come with it. It could be an additional income stream if you're already in the real estate and brokerage biz.
Loan brokerage is tedious work because you’re working with both the lender and borrower. The biggest issue with this business model is that there’s no guarantee of loan approval. If the loan is declined, all your efforts are wasted. Other business models like local lead generation are less-risky and low-maintenance. Income is also more stable and consistent.