Why Use a Broker?
Here are some of the reasons why you should use a Finance Broker. Below we explain some of the reasons we think you should choose us as your finance broker. Any other reasons we’ve missed? Please let us know.
Finance brokers are a preferred and growing channel for Australian banks and financiers, finance brokers generate over 60% of all new finance and mortgages.
A good business finance broker has many different lending options. We have over 40 different financiers on our panel, these include banks, independent and international finance companies, peer to peer lenders, private lenders and more, each has a different credit policy and many of them do not have direct channel. Approaching a bank or financier directly can be like finding a needle in a haystack. A business finance broker will get to know your business objectives and challenges before selecting the appropriate lender, a process which could take you weeks or more, time you could better spend focusing on growing your business.
A business finance broker can help preserve your credit rating, which trial and error applications, if made to the wrong financiers could be damaging.
A business finance broker saves the banks and financiers time by packaging and presenting applications that meet the lenders policy, this leads to lower processing time and better outcomes. Banks only pay brokers on settled loans, saving them money employing sales staff. Savings are passed on to broker in form of rate discounts, that enable business finance brokers to compete with the bank’s direct sales channel, and the branch network.
In most standard lending scenarios a business finance broker’s services are provided to customers for no additional payment.
Business finance brokers are likely to be more experienced than your direct bank contact. Our average finance industry experience is 20 years, and we have previously worked for Australian and international banks and finance companies, in a variety of positions and industry sectors.
Because your business finance broker can speak the bank’s language we can advocate effectively for our customers in ways that direct applicants cannot. As such you have a much better chance of approval if you apply for finance with an experienced business finance broker fighting in your corner.
Business finance brokers help you reduce your reliance on the bank. Having all your lending with the one bank exposes you to lender concentration risk, especially where the same bank has security over your house or business. By spreading finance among a number of lenders, business finance brokers can help you reduce this risk.
Your bank is not going to tell you if they don’t need your house as security, a business finance broker knows how much collateral you need to offer the lender to get an equivalent loan from another lender, if we can get you a similar deal with lower collateral or cash, this leaves it free for other purposes.
By spreading your lending requirements across multiple suitable lenders, a business finance broker can multiply the amount you can borrow, enabling you grow your business quicker, increasing your returns.
Finance brokers are business owners too, we understand the challenges of running a business. We are available to our customers.
Why Choose Us as Your Finance Broker?
We are accessible and experienced and we aim to make the finance process easy for you.
We are paid by the finance company once your finance has settled, most of our customers receive our service for no additional payment. Being paid on your success motivates us to work hard on getting your application over the line.
While we have a very high approval rate, if your finance can’t be approved, we will let you know what is possible, or what could be improved to get a better future result.
As your broker we will help you move your business ahead and achieve your goals with finance. This is our mission and the reason why we became business finance brokers.
We are licensed finance brokers, we hold our own Australian Credit Licence (#459022) issued by ASIC. We are full members of the Commercial Asset & Finance Brokers Association of Australia (CAFBA) and we are members of the Credit and Investments Ombudsman Service (CIO).
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