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Get Your MLO Business Up & Running

July 11, 2023

A Step-by-Step Checklist to Building Your MLO Business

It can feel daunting to get your MLO business up and running. There are many things you need to know before beginning. That’s why we’ve created this checklist for you, with all the steps from start to finish!

1. Find a Mentor in the IMB™ Community

You don’t have to brave the new world on your own. IMB™ connects you with a community of like-minded MLOs who are successfully enjoying the benefits of working for themselves. Mentors can be found by following the link on your home page or in IMB’s “Find a Mentor” section. Select one that is knowledgeable about MLO businesses and has time to help you.

2. Name Your Business

Select a business name and register your business with the Secretary of State. It’s also a good idea to register your business with the IRS and state tax authority. Choosing a business name is one of the most important steps for an entrepreneur. Be sure to pick a name that is easy to pronounce and is not likely to be misspelled when prospective clients search for the name or enter the URL directly. You can take inspiration from your own name, your location (i.e., local geography or cities), or creative names that will resonate with your future customers. Business Name Generator with Domain Name Availability

3. Create a Website

Creating an initial digital footprint is the first step in growing your brand online.

  1. Launch your website
  2. Setup your Google My Business
  3. Setup your Social Channels to promote your website on social media.

Setting up your brand online is a foundational step. In addition to using them for future promotions, they work as trust signals to prospects that you have professionalism and legitimacy.

4. Generate Clients AKA “Leads”

Where do you find prospects? IMB™ registered users have access to marketing resources in the portal. After you signup, navigate to the MLO Marketing Strategy area to explore the following strategies to generate more clients:

  1. Search Engine Optimization (SEO)
  2. Social Media Marketing (LinkedIn Sales Navigator and Facebook Ads)
  3. Email Marketing
  4. Creative Content Postings for Facebook Groups
  5. Local Market Events, Networking/Meeting New People
  6. Expanding your Brand

As you know, one of the easiest ways to generate new business is through referrals. Generating new business requires marketing education. We’ve done all that work for IMB™ users, who have a fast
track to what works.

5. Setup Shop

Decide if you want to be remote or go for traditional brick & mortar office space. Today, there are a lot of options for meeting with clients. Shared co-working spaces offer a hybrid approach and lower costs. You
get a professional working space, and access to conference rooms, with lower overhead. This may be a good approach to keep a close tab on your revenue in the first 3-6 months.

6. Grow Your Team

Invest in people and partnerships. Successful MLO businesses do not happen without team members who share your passion for what you’re doing. Seek out those with complementary skills, as well as professionals with experience in your industry or related industries to provide the business expertise you don’t have. You may be surprised at how many people want to join a company that’s on the move and clearly cares about its employees and customers.

“You are always one decision away from a totally different life.” —Mark Batterson

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  • Angela Armbruster ★★★★★ a year ago
    IMB made the transition from the banking side of lending to the broker side easy, comfortable and supportive. They are always available when we have questions, or … read more need help with difficult loan scenarios. It's wonderful to be able to offer our clients competitive rates and to have a higher compensation on each loan. We are able to provide exceptional customer service to our clients, which is our top priority, with the support and success from IMB.


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