Advantages of using a Commercial Finance Broker

Utilising an independent commercial broker can offer you invaluable benefits, simplifying the entire process from tracking down the best deal to application submission, and acting as your intermediary with the lender.

In today’s hectic lifestyle, we could all benefit from having a calmer, more stress-free life, so here are our top reasons for using a broker.

1. Enhanced Access to Competitive Funding Deals
   Unlike banks limited to their own offerings, brokers will have access to a wide spectrum of funding options, catering to your needs. A Commercial Finance Broker works for you and is not tied to any one lender which means they will give you access to far more lenders and potentially more attractive loan terms than you would find as an individual applicant.
2. Efficient Administration and Support
   A commercial broker team will manage the process on your behalf, handling paperwork, liaising with various parties, and alleviating the burden of intricate procedures and terminology, ensuring a hassle-free experience for you. By preparing your business plan and forecasts and packaging your proposal in a ‘bank-friendly’ format, your application should be given priority. And, by approaching more than one bank, a degree of competition between the lenders will exist, ensuring you have access to their best terms.
3. Streamlined Processes, Reduced Stress
   With daily interactions with lenders, a broker will navigate the application process seamlessly, minimising delays and complications for a smoother transaction. They will save you time and do the time-consuming leg work in terms of proposal preparation, freeing your time up for both your business and your all-important home life.
4. Expert Insights and Recommendations
   By working with an independent broker, you will benefit from their expert knowledge and they will pinpoint deals tailored to your unique circumstances. A commercial Finance Broker will be aware of the lenders varied credit policies and pricing structures and should be able to shape and tailor a funding proposal to ensure you are portrayed in the best possible light for a positive lending decision.

5. Comprehensive Protection
   An independent broker should adhere to strict standards and guidelines. They should be FCA registered and ideally members of the National Association of Commercial Finance Brokers (NACFB).
6. Guidance Throughout
   An independent broker will provide guidance throughout the whole purchase process to ensure smooth progression to drawdown, including ongoing contact with the banks, sales agents, accountants, solicitors, and bank valuers to cover any issues that may arise during the purchase process.
7. Industry Knowledge
   A Commercial Finance Broker will have developed close working relationships with the main high street banks together with smaller niche providers. This means that you will have access to competitive and flexible deals suited to your needs – even if you are a first-time buyer!
8. On Your Side
   A Commercial Finance Broker works for you and is not tied to any one lender. They will have your best interests at heart, presenting a diverse array of options from various lenders, ensuring unbiased advice tailored to your needs.

In summary, a Commercial Finance Broker is on your side, with multiple lending options and will treat you as an individual. They will not just source your loan but will guide you throughout the whole purchase process to ensure you achieve your dream of business ownership.