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A Sample Mortgage Brokerage Firm Business Plan Template

Are you about starting a mortgage brokerage company? If YES, here’s a complete sample mortgage brokerage firm business plan template & feasibility report you can use for FREE to raise money.

Okay, so we have considered all the requirements for starting a mortgage brokerage firm. We also took it further by analyzing and drafting a sample mortgage brokerage service marketing plan template backed up by actionable guerrilla marketing ideas for mortgage brokerage firms. So let’s proceed to the business planning section.

Why Start a Mortgage Brokerage Firm?

Shelter remains one of the topmost needs of humans. People can go all the way to ensure that they have a place to rest their heads after a hard day’s work. No doubt, it might be a herculean task for the average person- especially those in the lower class and even the middle class of the society to save up the required money needed to purchase their own apartment. But the good news is that with Mortgage brokerage firms, you are able buy your desire property and pay at your over a long period of time.

In reality, if you must be successful with your Mortgage Brokerage business, you must expand your network and build a thriving relationship with both key players in the Real Estate Industry and banks. This is so because as a Mortgage brokerage operator, you will definitely depend on the corporation of both your bank and Real Estate firms to be able to make profits since all you get is commissions from the loan payments.

It is important to note at this juncture that if you are not careful with this kind of business, you might land yourself in trouble and be sued. That is why you must follow due processes before securing a loan for your client. If you have clients that always default in their monthly payments, then you stand the chance of running out of business in no distant time. To secure yourself from any embarrassment, it is important that you buy liability insurance for your Mortgage Brokerage Business.

A good Business plan must be in place if you intend building any business that can survive the test of time. With a good business plan, you can easily attract investors and partners to help you realize your dream of establishing your own Mortgage brokerage firm.

The truth is that you would definitely need to present a workable business plan to any investor you want to speak with to invest in your business. Besides, with a good workable business plan in place, you are certain of business growth and expansion.

A Sample Mortgage Brokerage Firm Business Plan Template

  • Business Overview

Mortgage Brokerage firms are established with the sole aim of providing a convenient platform in form of long term loan to those who want to buy their own property. With the loan you get from the bank via a mortgage brokerage firm, you can finance any property of your choice, as long as you pass the screening and evaluation process.

The screening and evaluation is put in place so as to ensure that due process is followed before issuing a loan and the person receiving the loan must be credit worthy.

In other words, Mortgage Brokerage firms stand as the middle men between a Bank and Mortgage bank as the case may be and the individual or organization seeking to buy a property. Anybody, or group of investors may start and own a  mortgage brokerage firm as long as they meet the requirements for establishing such organization in the country they intend establishing the business.

The Mortgage Brokerage Services industry is indeed in a mature stage of its growth. The industry is characterized by growth in line with the overall outlook of the economy, consolidation from the largest players in the industry and wholehearted market acceptance of industry products and services.

The Mortgage Brokerage services line of business will continue to be in high demand by business establishment and individuals in the United States, most especially as the number of businesses and the need for accommodation increases.

The Mortgage Brokerage Services industry is indeed a major sector of the economy of the United States of America which generates a whooping sum of well over $8 billion annually from more than 12,609 registered and licensed mortgage brokerage firms scattered all around the United States of America.

The industry is responsible for the employment of well over 44,756 people. Experts project the mortgage brokerage services industry to grow at a 6.3 percent annual rate. The establishment (online brokerage firms) in this industry that has a dominant market share in the United States of America are; Zillow and Lending Tree.

Over and above, starting a mortgage brokerage firm requires professionalism and good grasp of the financial and real estate market. Besides, you would need to get the required certifications and license and also meet the standard capitalization for such business before you can be allowed to start a mortgage brokerage firm in the United States; the industry is heavily regulated to guide against fraud and criminality.

Mortgage Brokerage Firm Business Plan – Executive Summary

Pentagon Mortgage Brokerage Firm, LLC is a registered and licensed mortgage brokerage firm that will be located in the heart of Albany – New York. We have been able to secure a standard office facility in the heart of the city.

We will offer services such as brokering residential mortgages, brokering commercial and industrial mortgages, brokering home equity loans, brokering equipment financing arrangements, brokering vehicle loans, brokering residential mortgages online, brokering mortgage refinances online, brokering home equity loans online, providing an online mortgage marketplace and providing related mortgage cum loan advisory and consultancy services.

We are aware that to run an all – round and standard mortgage brokerage firm can be demanding which is why we are well trained, certified and equipped to perform excellently well.

Pentagon Mortgage Brokerage Firm, LLC is a client – focused and result driven mortgage brokerage firm that will provide broad- based mortgage brokering and loan brokering services at an affordable fee that won’t in any way put a hole in the pocket of our clients.  We will offer standard and professional services to all to our individual clients, and corporate clients. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they patronize our services.

At Pentagon Mortgage Brokerage Firm, LLC our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the mortgage brokerage and loan industry.

Pentagon Mortgage Brokerage Firm, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our plan is to position the business to become one of the leading brands in the mortgage brokerage and loan brokerage services line of business in the whole of New York, and also to be amongst the top 20 mortgage brokerage firms in the United States of America within the first 10 years of fully launching the business.

This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that Albany – New York is the right place to launch our mortgage brokerage firm before sourcing for clients from other cities in The United States of America.

Pentagon Mortgage Brokerage Firm, LLC is founded by, Mr. Campbell Smith and his immediate family. Campbell Smith has good grasp of the real estate and loan industry. He has well over 15 years of experience working at various capacities within the financial consulting industry with strong bias for mortgage in the United States of America. Mr. Campbell Smith graduated from both University of California – Berkley with a Degree in Accounting, and University of Harvard (MBA).

  • Our Product and Services

Pentagon Mortgage Brokerage Firm, LLC is going to offer varieties of services within the scope of the mortgage brokerage and loan services industry in the United States of America and of course on the global stage. Our intention of starting our mortgage brokerage firm in Albany – New York is to leverage on the opportunities available in the city.

We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition. Our business offering are listed below;

  • Brokering residential mortgages
  • Brokering commercial and industrial mortgages
  • Brokering home equity loans
  • Brokering equipment financing arrangements
  • Brokering vehicle loans
  • Brokering residential mortgages online
  • Brokering mortgage refinances online
  • Brokering home equity loans online
  • Providing an online mortgage marketplace
  • Providing other related loan cum mortgage consulting and advisory services

Our Vision Statement

Our vision is to build a mortgage brokerage and loan services brand that will become the number one choice for individuals, smaller businesses and corporate clients in the whole of Albany – New York. Our vision reflects our values: integrity, security, service, excellence and teamwork.

  • Our Mission Statement

Our mission is to provide professional, reliable and trusted mortgage brokerage and loan services that assist individuals, start – ups, corporate organization, and non-profit organizations in sorting out their mortgage and loan related concerns.

We will position the business to become one of the leading brands in the mortgage brokerage and loan services line of business in the whole of Albany – New York, and also to be amongst the top 20 mortgage brokerage and loan services firms in the United States of America within the first 10 years of operations.

  • Our Business Structure

Pentagon Mortgage Brokerage Firm, LLC, is a mortgage brokerage and loan services firm that intend starting small in Albany – New York, but hope to grow big in order to compete favorably with leading mortgage brokerage and loan services firms in the industry both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

Ordinarily we would have settled for two or three staff members and settle for just online mortgage brokerage services, but as part of our plan to build a standard and world class mortgage brokerage and loan services firm in Albany – New York we have perfected plans to get it right from the beginning.

The picture of the kind of mortgage brokerage and loan services business we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around Albany – New York as long as they are willing and ready to work with us to achieve our business goals and objectives.

At Pentagon Mortgage Brokerage Firm, LLC, we will ensure that we hire people that are qualified, hardworking, and creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Mortgage and Loan Brokerage Consultants
  • Admin and HR Manager
  • Marketing and Sales Executive
  • Accountant
  • Customer Care Executive / Front Desk Officer

Roles and Responsibilities

Chief Executive Office:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Mortgage Brokerage and Loan Services Consultants

  • Responsible for Brokering residential mortgages
  • Responsible for Brokering commercial and industrial mortgages
  • Responsible for Brokering home equity loans
  • Responsible for Brokering equipment financing arrangements
  • Responsible for Brokering vehicle loans
  • Responsible for Brokering residential mortgages online
  • Brokering mortgage refinances online services
  • Brokering home equity loans online services
  • Providing an online mortgage marketplace services
  • Providing other related loan cum mortgage consulting and advisory services

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Designs job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversees the smooth running of the daily office activities.

Marketing and Sales Executive

  • Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of relevant projects.
  • Writes winning proposal documents, negotiate fees and rates in line with company policy
  • Responsible for handling business research, marker surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents the company in strategic meetings
  • Helps to increase sales and growth for the company

Accountant

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • create reports from the information concerning the financial transactions recorded by the bookkeeper
  • Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Client Service Executive / Front Desk Officer

  • Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
  • Receives parcels / documents for the company
  • Distribute mails in the organization
  • Handles any other duties as assigned my the line manager

Mortgage Brokerage Firm Business Plan – SWOT Analysis

Pentagon Mortgage Brokerage Firm, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured mortgage brokerage and loan services firm that can favorably compete in the highly competitive mortgage brokerage market in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Pentagon Mortgage Brokerage Firm, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Pentagon Mortgage Brokerage Firm, LLC;

  • Strength:

Aside from our robust business network with financial lending institutions and players in the real estate industry, our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details and to deliver excellent returns for the business. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

  • Weakness:

As a new mortgage brokerage and loan services firm in Albany – New York, it might take some time for our organization to break into the market and gain acceptance especially from corporate clients in the already saturated mortgage brokerage services industry; that is perhaps our major weakness. So also, we may not have enough budget to give our business the kind of publicity we would have loved to.

  • Opportunities:

The opportunities in the mortgage brokerage and loan services industry is massive considering the number of individuals, start – ups and of course corporate organizations who can’t afford to do without the services of mortgage brokerage and loan services. As a standard and well – positioned mortgage brokerage and loan services firm, we are well – equipped and ready to take advantage of any opportunity that comes our way.

  • Threat:

Some of the threats that we are likely going to face as a mortgage brokerage and loan services firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

Mortgage Brokerage Firm Business Plan – MARKET ANALYSIS

  • Market Trends

The mortgage brokerage and loan services industry is indeed a very large industry and of course it is one industry that works for individuals and businesses across different industries. If you are conversant with the trend in the mortgage brokerage and loan services industry, you will realize that loads of people are leveraging on the services provided by the industry to empower themselves and businesses.

The truth is that, without the services of players in the mortgage brokerage and loan services industry, it will be pretty difficult for some individuals and even start – up businesses to access loan or save – up to purchase a property. They are responsible for helping individuals and businesses bypass the bureaucracies involved in obtaining loans from banks and other financial institutions et al

Another notable trend in the mortgage brokerage and loan services industry is that in the last five years, the industry has performed impressively as a large reduction in unemployment boosted the revenue generated in the industry. So also, the mortgage brokerage and loan services industry has benefited from the advancement of online platforms. Going forward, increasing product penetration and of course an expanding customer base is expected to drive growth in the industry.

  • Our Target Market

The demographic and psychographics composition of those who need the services of mortgage brokerage and loan services firms cuts across individuals, small businesses and large corporations.

Pentagon Mortgage Brokerage Firm, LLC will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading mortgage brokerage and loan service firms in the United States.

As a standard and licensed mortgage brokerage and loan service firm, Pentagon Mortgage Brokerage Firm, LLC offers a wide range of mortgage brokerage and loan related services hence we are well trained and equipped to services a wide range of clientele base.

Our target market cuts across businesses of different sizes and individuals. We are coming into the industry with a business concept that will enable us work with individuals, small businesses and bigger corporations in and around Albany – New York and other cities in the United States of America.

Below is a list of the businesses and organizations that we have specifically designed our products and services for;

  • Real Estate Investors
  • NGOs
  • Churches and other religious organizations
  • Corporate Organizations
  • Schools
  • Individuals and households
  • Entrepreneurs and Start – Ups

Our Competitive Advantage

We are quite aware that to be highly competitive in the mortgage brokerage and loan services industry means that we should be able to make available easy to access mortgage loans; bypassing the difficult to surmount hurdles of obtaining loans from the bank and other financial institutions.

Pentagon Mortgage Brokerage Firm, LLC might be a new entrant into the mortgage brokerage and loan services industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified mortgage brokerage and loan services consultants in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare packages will be amongst the best within our category (start – ups mortgage brokerage and loan services firms) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

Mortgage Brokerage Firm Business Plan – SALES AND MARKETING STRATEGY

We are mindful of the fact that there is stiffer competition amongst mortgage brokerage and loan services firms in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis, so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent service deliveries speaks for us in the market place; we want to build a standard mortgage brokerage and loan service business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our mortgage brokerage and loan services firm to become one of the top 20 mortgage brokerage and loan services firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Albany – New York but also in other cities in the United States of America.

Pentagon Mortgage Brokerage Firm, LLC is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to households, corporate organizations, schools, players in the real estate sector, and other key stake holders in Albany – New York and other cities in the United States of America.
  • Advertise our business in relevant financial and business related magazines, newspapers, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local real estate , finance and business expos, seminars, and business fairs et al
  • Create different packages for different category of clients (individuals, start – ups and established corporate organizations) in order to work with their budgets
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients

Mortgage Brokerage Firm Business Plan – Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the hearts of our target market. We are set to take the mortgage brokerage and loan services industry by storm – which is why we have made provisions for effective publicity and advertisement of Pentagon Mortgage Brokerage Firm, LLC.

Below are the platforms we intend to leverage on to promote and advertise Pentagon Mortgage Brokerage Firm, LLC;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms; we will also advertise our mortgage brokerage and loan services firm on financial magazines, real estate and other relevant financial programs on radio and TV
  • Sponsor relevant community based events / programs
  • We will leverage various online platforms to promote the business. It makes it easier for people to enter our website with just a click of the mouse. We will take advantage of the internet and social media platforms such as; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Albany – New York.
  • Engage in road show from time to time all around Albany – New York to promote our brand
  • Distribute our fliers and handbills in target areas all around Albany – New York
  • Ensure that all our workers wear our branded shirts and all our official vehicles are well branded with our company’s logo et al.

Sources of Income

Pentagon Mortgage Brokerage Firm, LLC is established with the aim of maximizing profits in the mortgage brokerage and loan services industry and we are going to go all the way to ensure that we do all it takes to attract both corporate and individual clients on a regular basis.

Pentagon Mortgage Brokerage Firm, LLC will generate income by offering the following mortgage brokerage and loan services for individuals, real estate companies, NGOs and for corporate organizations;

  • Brokering residential mortgages
  • Brokering commercial and industrial mortgages
  • Brokering home equity loans
  • Brokering equipment financing arrangements
  • Brokering vehicle loans
  • Brokering residential mortgages online
  • Brokering mortgage refinances online
  • Brokering home equity loans online
  • Providing an online mortgage marketplace
  • Providing other related loan cum mortgage consulting and advisory services

Sales Forecast

The fact that it is pretty difficult for the average individual and start – ups out there to obtain mortgage loans from banks and other financial institutions gives leverage to mortgage brokerage and loan services firms like ours. This goes to show that the potential to generate income for the business cannot be ruled out.

We are well positioned to take on the available market in Albany – New York and on our online platforms and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Albany – New York to other cities in the United States of America.

We have been able to critically examine the mortgage brokerage and loan services market and have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Albany – New York.

Below are the sales projection for Pentagon Mortgage Brokerage Firm, LLC, it is based on the location of our business and the wide range of mortgage brokerage and loan services that we will be offering;

  • First Fiscal Year-: $250,000
  • Second Fiscal Year-: $550,000
  • Third Fiscal Year-: $950,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

It is a fact that mortgage brokerage and loan services both online and offline is driven by the demand of availability of real estate / properties which is why the prices cannot be fixed; prices for properties fluctuates on a regular basis. Besides, mortgage brokerage and loan services firms rely on commissions since they serve as middlemen between those seeking for mortgage loans and mortgage banks and other financial institutions / loan lending institutions.

At Pentagon Mortgage Brokerage Firm, LLC we will keep the prices of our services and commissions a little bit below the average market rate for all of our customers by keeping our overhead low and by collecting services charges in advance from corporate organizations and individuals who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.

  • Payment Options

At Pentagon Mortgage Brokerage Firm, LLC our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

  • Payment by via bank transfer
  • Payment via online bank transfer
  • Payment via check
  • Payment via bank draft
  • Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our service charge.

Mortgage Brokerage Firm Business Plan – Financial Projections and Costing

Starting a mortgage brokerage and loan firm can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment. Aside from the working capital or capitalization as is required by the regulating body.

Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount to purchase the required software applications, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.

This is the financial projection and costing for starting Pentagon Mortgage Brokerage Firm, LLC;

  • The Total Fee for incorporating the Business in the United States of America – $750.
  • The budget for basic insurance policy covers, permits and business license – $2,500
  • The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
  • The amount required for capitalization (working capital) – $50,000
  • The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $5,000
  • The cost for purchase of the required software applications (CRM software, Accounting and Bookkeeping software and Payroll software et al) – $10,500
  • The Cost of Launching your official Website – $600
  • Budget for paying  at least three employees for 3 months plus utility bills – $10,000
  • Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
  • Miscellaneous: $1,000

Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a medium scale but standard mortgage brokerage and loan services firm in the United States of America.

Generating Funding / Startup Capital for Pentagon Mortgage Brokerage Firm, LLC

Pentagon Mortgage Brokerage Firm, LLC is a family business that will be owned and managed by Mr. Campbell Smith and his immediate family members. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

MORTGAGE BROKERAGE BUSINESS GROWTH: Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Pentagon Mortgage Brokerage Firm, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our mortgage brokerage and loan services (service charges and commissions) a little bit cheaper than what is obtainable in the mortgage brokerage and loan services industry and we are well prepared to survive on lower profit margin for a while.

Pentagon Mortgage Brokerage Firm, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Leasing, renovating and equipping our facility: Completed
  • Generating part of the start – up capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In Progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress
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