For many people the process of obtaining finance can be quite daunting, not to mention time consuming. Working out how much you can borrow then shopping around to find the right loan on the right terms is just the beginning. There’s the paperwork involved in the application process, making sure you’ve dotted all the i’s and crossed all the t’s. And if you’re a time-poor business owner, this can be even more stressful. This is where a business finance broker really can make your life so much easier. But what does a finance broker actually do and what are the key benefits of working with a broker?
What is a finance broker?
If you're looking for a business loan, whether it be for equipment, machinery, inventory, business vehicles or to buy or lease premises to grow your business, a finance broker can be a great partner to have in your corner.
We essentially act as a liaison or go-between to negotiate with banks and credit providers to obtain and arrange loans for a variety of purposes. An experienced commercial finance broker will be familiar with a wide range of lenders and products, so we are able to evaluate the best products for your particular needs.
What does a business loan broker do?
The difference between working directly with a bank and working with a broker is that generally a decent finance broker takes the time to understand the specific circumstances and needs of a client. This includes working out what you can afford to borrow. We then compare multiple products and lenders to recommend the right solution for you.
But our role doesn’t stop there. Finance brokers also negotiate terms and conditions of loans, such as interest rates and payment schedules. We manage the application process, doing all the legwork involved in getting approval from lenders.
We will give professional expert guidance throughout this process so that you can make an informed decision about what is best for you.
What are the benefits of using a professional Commercial finance broker?
Using the services of a professional finance broker brings with it a number of significant benefits.
Access to a wider range of lenders and loan products: Finance brokers have relationships with many different lenders and can help you find a loan that is tailored to your specific needs and financial situation.
Expertise and experience: Finance brokers have a deep understanding of the lending market and can guide you through the loan application process, answering any questions and addressing any concerns you may have.
Relationships: Changing bank managers can be inconvenient as it can take time to build trust with a new manager and for them to understand your business and financial needs. A business finance broker provides a consistent point of contact and a long-term partner to help you achieve your financial needs.
Better loan terms: Finance brokers have the negotiating power to help you secure more favorable loan terms, such as lower interest rates or better repayment terms.
Convenience: Finance brokers can complete the loan application process on your behalf, meaning you don't have to deal with the hassle of completing applications, gathering documentation, and following up with lenders.
And it’s worth remembering that we work for you, not the bank which means we are always in your corner, finding competitive rates and loan terms, negotiating great deals, saving you time and money and taking the hassle out of the application process.
What type of business loans can we help with?
A business finance broker can help you with a number of different loan types including:
Commercial loans for assets, equipment, machinery or real estate
Working capital loans to grow your business
Expansion and renovation loans for businesses that want to expand but need funding before they can increase their sales volume
Finance brokers can also help you purchase inventory or supplies as well as business vehicles
Pairing ambition with capital can produce incredible results. Whether for an established business or a new entrepreneurial venture, an injection of cash into the business can help take a new company to a market and a seasoned business to a new level.
Business loans help underwrite the dream, venture, idea or expansion plan. By securing this crucial funding, business owners can turn their attention to building their vision for a company's future.
When you have so many other plates to spin, it doesn’t make sense to try and go through this process without the support of an expert. You most likely use an accountant to help with your business tax, so why would you not engage an expert to help with your business finance?
Finance brokers are a great resource for small businesses and entrepreneurs looking to get financing for their ventures. They can help you find the right loan or financing option based on your needs and circumstances, saving you time and effort in the process. If you're interested in learning more about how our business loan broker can help your business grow then contact us today!
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