While starting a new business in the UK or needing funds for your existing ones, you may not consider using a commercial finance broker. But if you need easy solutions while you are busy with other things, commercial finance brokers can be your best option. They won’t charge you (as the lender pays the broker) while putting in efforts and time on finding the best finance options for your situation.
There are alternatives like banks or approaching lenders directly, but for you to know, it’s a time-consuming activity.
Let’s know what exactly does a commercial finance broker do?
Commercial finance brokers dig in the best business loan deals keeping in mind your lending needs, business size, situation, and many other factors. They cut the confusion caused in this crowded marketplace of finding the best and the most competitive quotes that fit you.
Now, wondering how they do so?
These commercial finance brokers do the hard comparison work for you by creating a detailed business plan and presenting it to get good rates from those who want to deal with you and not to the ones who don’t. They have relationships built with various banks and lenders and have got absolute knowledge on which financial product suits your needs. This enhances the chances of your business getting top rates and deals and know the best suppliers of the products you require, which you might get if you went out solo to these banks and lenders.
Also, if you leg out solo on hunting the best options, you miss on a lot of opportunities as some lenders are only accessible through a broker as part of proceedings.
Now let’s look into why choose a commercial finance broker?
Firstly, they are experienced and experts in this field of raising commercial finance, whether you are a sole trader, partnership, or limited company. Plus, they have many sources of finance, including ex-bankers who can make your deal proceedings easy.
And they can study your business and plans and define the right requirements of your business and then prepare an ideal case to secure the right deal.
So basically a good broker is one with knowledge, experience, and sources.
Now to know further about how we deal and what we offer in different types of commercial finance, and how we can help your business, simply connect with us and enjoy the free benefits we offer.