What Do Commercial Finance Brokers Do
If you run a business and need to arrange finance you may not have considered using a commercial finance broker. But if you are busy, not sure who is offering the best deals to meet your needs then using a broker may be your best option. It won’t cost you anything (the lender pays the broker) and could save you time and money.
Of course, the alternative would be to approach the bank or lenders yourself or go through the time-consuming process of an online comparison and numerous phone calls. But, what exactly does a commercial finance broker do?
Basic role of a commercial finance broker
Broker are experts in their field and their primary aim is to get you the best financial deal available. Effectively being matchmaker between the business and a lender, doing the hard comparison work for you. Commercial finance brokers will normally have relationships and contacts with various banks and lenders as well as knowing which financial products will suit your needs. This enables them to negotiate the top rates and deals, which your everyday business owner, might not otherwise be able to get a hold of as they don’t know the best suppliers of those products. With some lenders only accessible through a broker as part of proceedings, any business owner could potentially be missing out on lots of opportunities by not going through an intermediary. With so many finance options out there, it can be difficult to know which one is right for your business or sector.
Generally, commercial finance deals are more complex to arrange than residential deals. A lot of commercial lenders have specific sectors which they are happy to lend to and others which they look to avoid. Good brokers will know what kind of finance is right for a business, a business’s sector and the right sort of lenders to go too, specific to your business’s needs. Through a finance broker you should be able to save time not chasing the banks who don’t want to deal with you, but get good rates from the ones which do.
Removing the leg work
By using a finance broker to do the legwork behind a finance deal, it importantly frees up your time and allows you to work on other aspects of the business. Once it has been explained what your business is looking to do and what sort of current financial position it is, then a broker can look for the best package for you. A broker will know exactly the right path to go down and does all the hard work so that you don’t have to.
If you don’t have much experience dealing with lenders, then this is where the help of a finance broker is critical. They have the expertise to negotiate rates and will know the best sort of deal that your business could be expected to get, in its set of circumstances.
Spend to save
When it comes to using a broker, they don’t actually charge upfront fees and are usually paid by the lender. A financial broker is also looking to build a long-term relationship with you, for any future needs and so will be eager to get the best deal for you. Importantly a broker will save you time which you might otherwise spend searching for the right deal or the right lender. A broker takes this right out of the equation and can crack down on finding the best deal for you.
Why choose us?
Our years of experience working in this sector means that WF Financial Solutions are ideally placed to assist you in raising commercial finance, whether you are a sole trader, partnership or limited company. As well as having access to numerous sources of finance, our team includes ex-bankers to help deal with your requirements.
We know what finance suppliers are looking for and we can help you prepare a good case to secure the right deal and to take the stress out of the process.
So for further information regarding the different types of commercial finance, what we can offer you and how we can help your business. Simply get in touch with us and ask for your free, no obligation quote.
Some of the partners we work with...
From a funders perspective, I find that the team at WF Financial Solutions, really take the time to understand the customers’ needs and wants and with their vast experience are able to match them with the correct funders. This really helps the funders to build a fast and trustworthy relationship to ensure any facilities are provided in a timely manner.
- Wayne Spratt, Business Development Manager, Bibby Factors Yorkshire
Why choose us?
WF Financial Solutions is an independent broker of invoice, asset and trade financing solutions with links to lenders of all sizes and specialties. WF Financial Solutions has helped many clients through a range of lenders and their varying services and we are proud to offer advisory and introductory services to finance providers that suit your needs.
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