Little Boy In Maze

7 reasons why using a Commercial Broker can help you

Getting finance for your business can be a complex maze!

Here is a quick guide outlining how the expertise and experience of our friends at FundingRound can help you plan financial investment and make the whole process much simpler for you.

  1. On your side 

When you approach a bank for finance, they are looking to sell you a loan. A broker however works for you! The importance of having someone you can trust, cannot be understated.

  1. Specialists

Obtaining finance can be quite a complicated matter, and whilst you are an expert at your business, this might not be your forte. It can be confusing (and time-consuming) to understand the huge range of options, interest rates and repayment choices which are available.

That’s where a broker can help – they have the experience and expertise to help advise about the different options available to you, highlighting the benefits and pitfalls of each.

The finance you think you need, may not be the finance you actually need!

  1. It’s their industry

Each lender provides funds based on different criteria – some will be more willing to lend to certain businesses than others. Brokers know the best places to go to for the right finance. We know banks which might never have made it on to your radar!

An independent broker, will assess a number of funders, not just one – shopping around for a good deal is commonplace now, and they do the shopping around for you!

  1. Existing relationships

If you apply to a bank, the process you go through will no doubt be a series of hoops. If you fail on any of their tests, the loan will likely be refused, even if your overall application has merit – a case of “computer says no!”

Since brokers are on good terms with the banks, they can help you get past these obstacles and achieve the right funding.

  1. Your one-stop shop

Getting finance can be tricky. Along the way, you may need to speak to lenders, valuation specialists, suppliers, solicitors and others. And getting them to meet timescales and deadlines is even trickier.

A broker can help with this process, keeping track of your application and chasing any parties which aren’t keeping to deadlines.

  1. More flexibility 

Sometimes circumstances change, and clients can, for whatever reason,  want to change the loan term or amount mid-way through the process. With a bank, this can become difficult – and sometimes you may have to go through the whole process again.

However, a broker manages the change for you to cause you as little disruption as possible.

  1. A real time-saver

If you run a small business, chances are you are working flat-out to making your business successful.

Using a broker can help you manage the process, from application to completion, and so save you time and effort, meaning you can focus on running your business.

And if the above isn’t enough reason, how about this: Dealing with a broker means dealing with an individual.

At FundingRound, we will take the time to understand you and your business and offer a personal, one-to-one service tailored to your business needs.

We are in an excellent position to secure you the most suitable deal because we understand your business and your requirements.

Call Funding Round on 01636 640 830 or visit their website to see how they can help you out of the maze.