Could using a Commercial Finance Broker help your business achieve its growth plans?
A few years ago when a business wanted to borrow money or discuss their finance requirements they would make an appointment with their local bank manager. Many people in business would now say the world has changed with less businesses having access to an experienced bank manager. Businesses are now exploring alternatives to obtain the growth finance they need to help their business prosper.
Here are 10 reasons why using a broker could be the best option for sourcing lending options and supporting you with your finance needs.
- Expert advice: Brokers give expert advice on the correct finance structures and options available, which might be solutions not previously considered.
- Save time and money: Brokers can research the market for the best finance deals on the clients behalf and source quick and easy finance comparisons.
- Skills, Experience and Contacts: Brokers come with skills, experience and contacts to help explain the plethora of finance options and rates in the market.
- Access to a wide range of lenders and alternative finance providers: Brokers have access to a panel of lenders and alternative finance providers and with over 200 in the market they can ensure you get the finance you actually need.
- Personal customer service: Dealing with a broker means you are dealing with an individual who will take the time to understand you and your business.
- Working for the client: Brokers work for the business and not the lender. The importance of having someone the business can trust with a broad market view cannot be understated.
- Support: Brokers will guide you through the lending process from start to finish allowing you the freedom to concentrate on running your business.
- Trusted Partner: Good brokers will stay by your side and provide ongoing support and guidance, this can be invaluable when things become complicated or confusing.
- FCA regulation: some brokers are regulated by the FCA which means they have been through a rigorous application process and you can be confident in the advice they are providing. Even if an unregulated lender is chosen, you can be confident of the extra layer of security afforded by an FCA regulated broker.
- Members of an independent trade body: Brokers who are members of the National Association of Commercial Finance Brokers (NACFB) all adhere to an industry recognised Code of Practice.
South West Business Finance (SWBF) is an independent finance consultancy and commercial brokerage. We are based in Corsham, near Bath but are able to help businesses all over the South West with their finance needs. We are members of the NACFB and regulated by the FCA.