Business owners increasingly need help to access necessary finance to meet their obligations and pursue their objectives.
Before 2008 over 90% of all commercial funding was provided by just 5 banks – now we have many new established banks and funds who are lending to SME’s. So the choice of lender and availability of funding is harder.
This is where a good commercial finance broker is helpful – but how do you choose who to use?
I suggest you ask the following key questions:
1. Does the broker have a good track record in the type of finance that you need?
2. How does the broker position your business with the identified lenders?
3. Has the broker got close relationships with senior decision-makers at the banks and lenders?
4. How does the broker earn their fee and are the arrangements open and transparent?
5. Can the broker show you a number of excellent testimonials from satisfied clients?