Benefits of a Broker
Benefits of using a broker
TIME
A good broker will be able to accelerate the process of a funding request as they will be able to identify the most appropriate lenders for each proposal. Working alongside business owners the broker will deal with the lender & other appropriate professionals to ensure that a suitable offer is on the table quickly and the business receives the crucial funding at the earliest opportunity.
PRESENTATION
A good broker will present and package an application on behalf of their clients, in a format that will significantly improve the chances of success..
The broker in most cases will attend meetings between the client and funder in order to support the business owner and increase the chances of securing funds.
CHOICE
A good broker will have a wide range of contacts and a wide range of funders to choose from, which will include , building societies, sub-prime lenders, development funders merchant banks and private lending consortiums all of which compliments however extends well beyond the high street banks
CONTINGENT FEES
A good broker will normally only get paid once a deal is drawn down, with their fees being linked to the funds raised. For this reason it is in the brokers interests to present the client with the best rates as efficiently as possible. Payment on completion also ensures that a broker will remain on hand to assist with any delays with the process through to legal completion.
PREFERENTIAL RATES
Brokers are able to negotiate preferential rates for clients, which, in many cases, can more than offset the cost of using a broker in the first place