A few years ago when somebody wanted to borrow money such as agreeing or extending an overdraft, agreeing a loan for a new venture or property project/investment for example, they would make an appointment with their local bank manager or, if they did not already have one, select a bank, often their parents’.

They would then approach, someone who would listen and consider their proposal carefully, more often than not agree (or not) lending on an overdraft or loan on the spot, often with some words of advice.

Many people in business would now say the world has changed with less people having an experienced bank manager or sometimes even access to one when they need advice or borrowing unless their turnover or borrowing requirements are fairly substantial.

So where to go when you don’t have a bank manager?

The market for Commercial Brokers has grown out of this development.  Some brokers simply package a funding request to a small number of known lenders in an attempt to achieve the intended objective.  Others, such as South West Business Finance, are experienced ex-bank managers who have “sat on the other side of the fence”, know what is reasonable/acceptable and how lenders want the proposal presented to achieve a swift, positive and competitive response (preferably several).

They will know the right lenders (from a huge number of options) to approach and appropriate structure where now there are a plethora of alternatives beyond the traditional overdraft or loan.   They will also shape and guide deals, pointing out issues and presenting solutions or, sometimes, suggesting that it would be unwise to proceed with reasons why even if this means foregoing a fee but, when agreed, they will also guide and push the deal through to completion.  They will also share the benefit of their experience, providing the tailored advice that was a mainstay of the old fashioned (in the best sense of the term) bank manager (who are still around but are becoming rarer).

The modern truly professional commercial broker such as those found at South West Business Finance could now be viewed as the first port of call when wanting to see the bank manager.