The finance factor: how a commercial finance broker can help secure you a loan


Starting a business isn’t easy – anyone who has ever tried can tell you that. There are so many elements to running a business, from winning clients to managing taxes, paying vendors and more.

But that shouldn’t put you off the excitement that comes with starting your own business, as it can be the most rewarding thing you can do in your work life! You might need a little financial assistance to get started, and this is where talking to an experienced commercial finance broker can help.

Here is how they can help you secure some of that extra funding to get your business up and running smoothly.

What is a commercial finance broker?

Just as there are residential finance brokers there are commercial finance brokers: those who can help you secure loans to fund elements of your business that you may not have had to buy. This can include anything from business equipment to vehicles, IT equipment and more.

Experienced commercial loan brokers have the skill and knowledge to compare offers and decide which one is most suitable for your business. They will go through a range of packages from a host of lenders and can assist in finding the following:

  • Asset leasing
  • Cashflow finance
  • Chattel mortgages
  • Equipment rental

A skilled commercial broker will work to gain an in-depth understanding of your prospective business, which in turn will help them decide on which kind of finance, and from where, you should receive it.

How a professional finance broker can help your business

There are multiple reasons as to why using the skills and knowledge of a proper finance broker can help.

Here are those three reasons…

  1. They have targeted commercial finance skills

When you speak to banks about commercial finance, you may find yourself dealing with someone who spends more time working in residential finance, and actually won’t be of much use to you trying to secure a healthy business loan.

In contrast, commercial finance brokers have spent years perfecting their skills, knowledge and craft, and can provide you with an idea of how to secure a good loan from the get-go and before you even head in for a meeting with one.

  1. You will save time & money using a commercial loan broker

It takes so much time for an individual to apply to loaning institutions. What’s more, there is no guarantee you will be approved of the loan if you don’t meet the lender’s specific criteria. Your experienced commercial loan broker will work to find a solution that best suits you, thus saving you plenty of time that can instead be spent working towards opening your business.

Finally, commercial loan brokers usually take commissions from the lender, meaning you save money on providing them a commission once they have helped secure your loan.

  1. You gain access to more lending options

Banks can only provide a few business finance products. However, if you talk to a commercial broker, they will provide you with access to numerous financing options with one that could be absolutely perfect for your needs.

This may mean you will find an incredible deal that also has the best interest rates. Furthermore, your commercial loan broker will provide you access to lending institutions that have their own lending criteria, meaning you will have a better chance securing finance with a particular institution than if your options were limited.