Finding funds: 5 benefits of enlisting commercial finance brokers

The modern business arena is complex and convoluted, and it can be difficult for a business newcomer to secure the funding they need to thrive from operation’s outset.

Some time ago, it was easy for a small-to-medium enterprise (SME) owner to walk into their bank and have a chat about securing a loan. But things have changed: the business world is competitive and the number of people looking to start a business is markedly higher.

It’s not an easy task to get your foot in the door with proper financing, so this is where a reputable commercial finance broker can come to your assistance.

The simple fact of the matter is that a commercial finance broker acts as the link between you and securing that necessary finance. They can help you get your foot in the door with a bank or private lender whilst advocating for the funding your business deserves to receive.

Let’s take a look at a few valuable reasons why you should consider enlisting a commercial finance broker to help you receive that all-important outset funding.

1. Brokers are in your corner

The broker exists to help the SME secure the best funding for its operations. They will work tirelessly on your behalf to shop around, see what options are good and talk you through them. Once you have come to an agreement on which option is best for your business they will then advocate to the lender to secure that funding for your business.

2. Brokers provide professional finance advice

Commercial finance brokers have typically been in the industry for years and know exactly what kind of finance a new business needs to thrive from the outset. Often, it turns out that a new business owner is looking to secure funding they don’t actually need or that could be detrimental to their progress.

A reputable broker can help you decide which finance is right for your business. For example, you may think your business needs a loan to purchase a particular vehicle, but a broker could advise a leasing arrangement for a more cost-effective alternative.

The finances behind starting a business can be tricky – a commercial finance broker is in your corner and can help you navigate this challenging aspect of operations.  

3. Brokers can help you save time, effort & money

You can outsource your financing to a specialised commercial finance broker and this, in turn, can help you save plenty of time, effort and money when starting out business proceedings. You can take your time to find the best deal and your commercial finance broker will be there to help you achieve it.

4. Brokers have a traditional approach to financing

When you source a finance broker, you won’t be dealing with a computer – you will be talking to an experienced individual who is there to go in to bat on your behalf. They will take the time to understand you, your business and its financial needs.

They offer a personalised, highly consultative approach to securing finance, and will be there to discuss your concerns and queries regarding finances.

5. Brokers have the experience

Commercial finance brokers have the skills and knowledge required to help you secure the finance you need to thrive from the get-go. Securing funding can be difficult in the early days of business operations, and it is another stress that adds to your already incredibly full plate.

But a commercial finance broker can do the shopping for you, helping you secure the right financing for your business without impeding on the other aspects of running the business.