A loan agent is a person who works individually in finding potential leads who require a loan. There are many loans available in the market like personal loans, business loans, home loans, mortgage loans, car loans, gold loans etc. The loan agent will research and help the people get the loan they want. For doing this work, they get paid a certain commission from the Bank which can be termed as a “Payout”.
How do the loan agents approach a Bank?
Loan agents usually will be affiliated with a Bank/NBFC under their affiliate partner program. Hence they would work on getting loan leads in favor of that specific Bank.
What is a loan partner program?
A Loan partner program is where a loan agent works and generates leads. These leads might require any kind of a loan. The agent would be in charge of handling all their information, getting their form ready. Once they complete their application, the form must be submitted with the Bank. The Bank will then complete the loan process and disburse the loan amount to the customer. For this work, the loan agent will be paid a certain commission.
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