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Antonio:
It was a great decision to join BLB because I said, well, in a very simple step by step, I’ll get familiarized with different lenders that I didn’t know before. Even though, I mean, as I mentioned to you, not 30 plus years in the industry, but that was mostly residential. No, this is completely different because everything else that you have in there is certainly amazing.
Oz Konar:
Hey everyone, Konar here with Business Lending Blueprint. I have another special guest today with me, one of our BLB members, Antonio. He joined BLB and is an international business owner.
So I want to get to know him, and I want to make sure that you guys are a part of this too. We have many people who are having major success within our community, however they’re already also successful in other areas of their lives.
And you know, this is not just about BLB. BLB is the great connector for me to get to know amazing people. I make business partnerships through this, I meet new friends through this, we have live events, these people come join us together, it becomes like a big family.
So whenever I get a chance to talk to our clients, I basically record and share with you guys so we get to know each individual better and we can also help their business grow.
So Antonio, great to have you here, great to have you a part of BLB. Could you take like two minutes and help us get to know you a little more?
Antonio:
Thank you for having me, Oz. Well basically, I’m an entrepreneur and I have several companies that pretty much fall into the real estate and financing industry.
The idea of joining BLB was to say, okay, let’s see. I don’t have clients that pursue a real estate residential purchase, but they want commercial, or they already have a commercial business. No, I don’t have a product for that.
So that’s why I joined BLB. Even though, as I mentioned to you, less than 5% probably will fall into that category from my referral business, I see there is a lot of potential. I like to probably explore a little bit more into that.
Oz Konar:
Yeah, not everyone wants to show off their wealth, right? A lot of social media characters love to do that, but especially the clients that you’ve been dealing with, I guess we can call them “old money.”
They really do have it and they don’t want to flash it on social media, which you have to respect. And obviously that’s why you’ve been in business for over 30 years and it’s a 100% referral business.
Just because there’s social media doesn’t mean that you have to be there, right? As long as your business is fine and your customers are happy, you found an amazing angle.
Adding lending to it, like you said, the majority of them might not need it, but as you and your team get more informed about funding options, you’re going to add more value.
From another business perspective, it’s lead monetization. You already have leads who need your help and trust you with very private and personal business-related things. Adding funding makes you more of an expert and adds another tool to your arsenal, making your business more lucrative.
Businesses want a trusted advisor. They don’t want an app. They want someone they know, trust, and like.
So you recently had a few successes. Can you walk us through who you worked with and what that success looked like?
Antonio:
Sure. That particular case was with AFR Financial. One of my old clients—probably 25 years old relationship—he owns a restaurant in New York and has been doing that for almost 25–27 years.
He was trying to buy something in Miami, and I asked him, “How about your restaurant? Do you need funding?” He said it was difficult because his credit wasn’t the best.
When he told me it was around 660, I said, “I believe I have a product,” because the first thing I did when I joined BLB was go over all the lenders and their criteria.
For restaurants, 660 was the minimum. When we ran credit, he was around 640-something and the wife was 659. So we said, okay, in one month, pay off credit cards and we’ll reapply. In the meantime, we gathered all documentation.
Once the 30 days passed, we submitted and were approved for $300,000. Later, another $300,000, and now I’m also working on an SBA loan of about $3.2 million.
Oz Konar:
Wow. That’s amazing.
Antonio:
Yes, and I realized that maybe for this product—funding—I might get a little more involved in social media because there’s a niche with potential, even if it’s small.
Oz Konar:
That’s incredible. Restaurant funding is one of that lender’s specialties. I think you worked with Marie—they do an amazing job.
So two rounds of $300,000 and a separate SBA of over $3 million. Is the funding completed?
Antonio:
The first round is complete. The second is still in process and should be done by the end of this week. The SBA should close in about 10 days. It’s New York, so lawyers handle closings there.
Oz Konar:
That’s awesome. Congratulations. Were you happy with the commissions?
Antonio:
Very happy. Residential takes 45 days. This took about five days, maybe more for documents. My commission was 8%, which compared to residential—2% or 3%—is great.
Then after the second round, there was a bonus because it exceeded $250,000. I don’t remember exactly how much, but it was a bonus.
They’re professional, quick, and hands-on. Not just emails.
Oz Konar:
That’s incredible. Two $300,000 deals at 8% is about $48,000 plus bonuses. Over $50,000 in commissions through referrals.
Any feedback on BLB?
Antonio:
The step-by-step teaching is very easy and interesting. The only suggestion is more lenders for special cases—consulting, real estate companies, international ownership.
But overall, everything else is extremely amazing. It was a great decision to join BLB. Commercial funding is a different animal, and I’m very happy.
Oz Konar:
Thank you. We recently added more lenders and launched BLB Network, giving access to direct lenders across alternative lending. We’ve already funded over half a million in the first week.
We’re always listening to feedback from members like you.
We have a live event in Orlando coming up—I’ll send you an invite. Also, I’m launching a podcast next week. I’d love to have you as a guest.
Antonio:
It would be a pleasure. Thank you.
Oz Konar:
My pleasure. Thank you for joining today. Looking forward to seeing more success from you. Take care.