Running a business takes a lot of hard work and long days - we know, we’ve been operating for more than 20 years now! Between all the paperwork, generating new business and managing your existing clientele, every day the to-do list seems to get longer and longer.
Whether you’re looking at expanding your business and grow it to keep up with the demands of your customers or you’ve seen a slowing in trade (which can occur for any number of reasons in the current climate), it might be time to have a chat with a commercial loan broker to help you get your business where it needs to be.
What is a commercial broker?
Just like many other industries including real estate, construction and more, when it comes to finance there are brokers who can specialise particularly in either the residential or commercial sector. These brokers have experience working in particular with businesses looking to get a loan, and will compare a great deal of commercial finance packages available from a wide range of lenders to find the perfect one to suit the business they’re assisting.
Commercial loan options a broker can assist with include:
- Chattel mortgages
- Asset leasing
- Equipment rental
- Cashflow finance
A good commercial broker will sit with you and get an in-depth understanding of your business, which enables them to help you decide which of the above types of finance would work best for you (though this will require a discussion with your accountant, as well).
How can it benefit my business to speak with a commercial finance broker?
There are several key reasons why utilising the services of a commercial loan broker instead of just speaking to the bank you’re with can provide huge advantages to your business - here are the top 5.
- Expertise specific to commercial finance
When you walk into a banking institution or if you call their customer service line and want to talk with someone about commercial finance, you may very well end up talking to someone who spends most of their time working on the personal finance side of things.
However, you can feel confident that when you start a conversation with a commercial finance broker, they have the experience required to not only be able to understand your situation better, but also have the knowledge of all the lenders that are better suited to your needs.
- Access to a multitude of lending options
Unlike a bank which is restricted to being able to offer only the few business finance products they have available, a commercial broker has access to hundreds of finance packages offered by a huge network of lending institutions.
This means they’ll be able to find you a sensational deal with great interest rates every time. Plus, because each lender has their own set of lending criteria you’ll have a much better chance of securing finance where you otherwise may not have been approved.
- Save yourself time and money
How long do you think it’d take to reach out to all of the different lenders out there, discussing your needs with each and every one of them to then ultimately decide which works best for the requirements of your business? A commercial finance broker removes the need for you to do all the legwork and will take care of it all on their end, saving you a heaps of time in the process.
And unlike many banks that charge fees to businesses looking to borrow, generally a commercial broker helping you find and secure a loan for your business will instead take commission from the lender instead, saving you money too.
Talk to a dedicated commercial loan broker at Stratton Finance now
With more than two decades of experience in the finance industry we’ve built up a solid reputation for getting outstanding results for our clients, and over the years have amassed a huge network of lenders we can tap into. That means you can rest assured you’re in the most capable of hands.
If you’re ready to have a chat with someone who’s got a myriad of experience working with businesses just like yours to secure the best commercial finance deals available, give Stratton Finance a call right now on 1300 787 288. If you’d prefer, you’re welcome to send us a message online via our contact page and you’ll hear back from one of the team ASAP.
Disclaimer: Nothing in this article should be assumed as personal advice. You should consider whether the information is appropriate to your needs, and where appropriate, seek advice from a professional financial adviser.