If you are an accountant and have a client requiring finance to:
• Fund a new start business
• Expand an existing business
• Purchase new equipment
• Fund seasonal shortfalls
• Or even simply just manage their cash flow
The choice of business financing options is endless. You will need to take time to research the best and most cost effective business finance package for your client’s business.
If you are a ‘time starved’ professional, a business finance broker can save you time. You may ask:
• Wouldn’t I get a better deal if I went directly to a commercial finance company?
• And, how can a business finance broker get my client the best deal?
• Furthermore, how will I know what is the best deal for my client’s company?
These are all valid questions, and highlight the fact that when sourcing any type of business financing options, there is a lot of choice. But where do you start and how do you decide? A business finance broker can help. And here are ten reasons why:
- Using a business finance broker will save you time and money. If you are not a plumber, you probably wouldn’t tackle a plumbing project on your own. So why take a chance on finding sources of finance for a business? Commercial finance is complex topic. Finance packages can be tailored to the exact needs of a business. Therefore wouldn’t it make sense to talk to an expert, who has the knowledge and skill to be able to shop around for the best deal?
- A good business finance broker will have extensive knowledge of the commercial finance sector. As well as extensive relationships with many if not all of the mainstream sources of finance. More importantly the broker will know where to find alternative business finance facilities that you may not even know existed.
- The role of a broker is to act as an agent for your client’s business. A business finance broker will take the time to understand your client’s business. The broker will speak to you, meet you and discuss your client’s business objectives.
• How has your client got to where it is now?
• What are your client’s plans?
• How has your client financed its business to date?
Armed with this information the business finance broker will then be able to work with you to find the most appropriate business finance facilities for your client.
4. Each industry sector has its own unique challenges. It would be useful if your business finance broker has experience of your client’s industry sector.
5. A business finance broker will be able to ask any awkward questions you may be hesitant to ask a finance company directly.
6. After conducting initial research, a business finance broker will be in a position to connect your client’s business to commercial finance companies that want to do business with your client, rather than you hoping the lender will accept your client.
7. A business finance broker will chase decision makers directly, on your behalf. It will also respond immediately to any queries raised by the lender.
8. In addition your broker will keep you informed at every step of the process. You won’t be kept in the dark.
9. As a result a broker will be in a position to be able to help you to negotiate the right deal for your client’s business.
10. Finally, a business finance broker provides commercial finance lenders with significant amounts of new business, so you will often get a better deal than if you approached the lenders directly.