The Finances House | UK Commercial Finance Broker

The Benefits of using a Commercial Finance Broker

1. They do the leg work
One of the biggest advantages of using a fully independent commercial finance broker is that they take the hard work out of finding the best business loan that is right for you. Essentially, they look at your lending requirements and match you to the right business loan lender.

Doing it yourself at one point may have been a little easier, but now there are so many different types of lenders available other than traditional banks, and everyone offers their own set of terms and conditions and wave sparkly perks in front of borrowers to make each lender seem like they are the best one for you.

Most good commercial brokers have been in the game for a long time. They do not buy into the smoke screen of sparkly perks that are hiding high interest rates, they know the industry more than google research can give you.

2. They know what the banks want

A fully independent commercial finance broker possesses all the experience, skills and contacts that are essential to get you the very best deal that caters to every single one of your business needs. The broker's sole aim is to strive to find you a lender with the best financing solution for even the most complex scenarios. A good broker will already have quick and efficient systems already put in place to ensure smooth running of any finance requests.

They will also already have existing links with lenders on their funding panel, which means they have the necessary in-depth knowledge of various types of requests and conditions each lender is most likely to accept. If you think about it this way, it is a broker's career to know the ins and outs of how all loans work and are bound to make a lot of links along the way.

Their job is to build relationships with the banks themselves and use their links to secure the best deal possible for you and your business. Especially after providing many banks with so much business through them, you can be assured that using a broker will only increase your chances of getting approved for funding.

Commercial finance brokers know what a successful application looks like. They know what information, data and documents are required, and they know how banks want them to be formatted and presented. Using a commercial finance broker gives you the best chance of having your loan application accepted.

3. They can get you better terms

The relationship that many brokers have with banks helps them to personally negotiate deals, interest rates and fees. Now, this does not mean you will get a huge discount of your loan repayment, it means that they will be able to tweak certain aspects of your loan deal that you may never even think of or be able to do by yourself.

Commercial finance brokers have ongoing relationships with financial lenders. They constantly bring them new business. More than this, they constantly bring them viable, profitable businesses they know the banks will want to invest in. Commercial finance brokers can sometimes use this goodwill to get you better terms than you would be able to get on your own.

4. They will teach you

If you manage to get yourself a good financial broker, they will not only get you a good deal and walk away. As a financial broker they can act as a type of personal mentor, teaching you all you need to know about lenders, loan applications and sharing their financial wisdom with you. They can guide you through what big lenders and other secondary lenders are looking for and what you need to personally do to ensure that you not only get approved for financing but you also get the best possible deal that suits you.

5. They're here for the long haul

As previously mentioned, the information that these brokers have isn't something you can simply google. It comes with their lifetime experiences, which is the service that you will be paying for. Throughout the course of your career and business, you are likely you need more than one loan.

A client and broker can build a good working relationship and rapport allowing for easier future applications to take place. You'll find out after your first time working with a broker that their job is essentially to use their expertise to help you in the most efficient way possible.

Commercial finance brokers build great working relationships with their clients and the lenders. They will get to know your business and its finances and have a good working knowledge of exactly what your business needs at each stage of its growth.