A loan broker generally works as an intermediary between the individual/entity taking out the loan and a commercial lender.

An angel investor, on the other hand, is a wealthy individual who provides the capital/loan entirely on their own, and are seeking a higher return or ownership equity through their loan.

So while, in theory, the person charging 10-15% could be either a loan broker or angel investor, I tend to believe it's a loan broker representing the amount that the commercial lender is asking for up front (potentially bundled with a brokerage fee that they are charging to act as intermediary).

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