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Do I need a license or a business entity to broker business loans?

What to check on licensing by state or province, and whether you need an LLC to start.

Written by Kaylan Pepin

Do I need a license to broker business loans?

Licensing rules vary by state and by province, and they change. Check your own state or provincial regulator before you start.

Levr is a software platform. We do not give legal or compliance advice, and we cannot tell you what your jurisdiction requires.

Do I need to incorporate or have a business entity to use the platform?

No. You do not need a formal business entity to sign up and start using the platform. Plenty of brokers start as sole proprietors or independent contractors.

Click through the walkthrough above to see what setting up a workspace from scratch looks like.

Whether to incorporate later, and what structure fits, is a question for your own accountant or business advisor. We do not give tax advice.


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