Prospa enables mortgage brokers to spot commercial opportunities

Here's how they can make the most of opportunity without overinvesting outside their core business

Prospa enables mortgage brokers to spot commercial opportunities


By Mina Martin

Prospa has made it its mission to help small businesses manage their everyday expenses and take advantage of growth opportunities by offering fast and flexible funding options.

To create awareness in the market of new funding options that would enable small businesses to grow, scale and succeed, the non-bank lender has also extended its reach to mortgage brokers.

But how is Prospa enabling mortgage brokers to spot commercial opportunities?

Roberto Sanz, national sales manager at Prospa, said “successful brokers are those who master the art of identifying opportunities and have the right solutions in place for their clients’ cash flow needs.”

“Mortgage brokers already have self-employed and small business clients on their residential lending books,” Sanz said. “When those clients have challenges or upcoming opportunities in their businesses, they may reach out to a broker who can offer a solution, so being prepared to support them is the first step to diversifying.”

It’s more likely, though, he said, that brokers will have to anticipate the residential borrower’s commercial funding potential and be ready to act when the client’s need arises.

Prospa helps mortgage brokers diversify their revenue streams and get involved in the business lending space, to empower them to engage with their clients about potential cash-flow issues and anticipate opportunities for growth.

“It’s not about mortgage brokers deviating from their core business – we know the expertise and experience that their core business involves.” Sanz said. “Rather, it’s about Prospa offering a ‘spot and refer’ service model that enables mortgage brokers to make the most of opportunity without overinvesting outside their core business.”

“Prospa provides the tools and training to help our partners identify opportunities to address the cash flow challenges of their SME clients. All the broker needs to do is engage with our team of dedicated business development managers or access the Prospa Partner Portal – which then manages the rest of the process.”

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