If you want to secure funding for your business, you may be wondering whether or not to seek the help of a commercial finance broker.
Engaging a broker can seem like an extra step in the already-long funding process, but it’s absolutely worthwhile to have an expert on hand to guide you, manage the complex admin, and get access to the best deals.
What is a finance broker, and how do they work?
A business finance broker is someone who sources and obtains funding for businesses.
At Funding Round, for example, we analyse your current situation and future goals, so we can source funding that suits you at a price you can afford.
Next is to gather your options and model how these solutions will work in your business. Once you select the finance you want to apply for, we complete the application for you and manage it all the way through to the money landing in your account.
The benefits of using a business finance broker
If you’re thinking about making a big financial decision for your business, consider investing in a finance broker to make choices with confidence.
Expert advice and support
Business finance brokers are industry experts, often with years of experience, who can advise you on the right type of funding for your situation.
Using them avoids navigating the time-consuming complexities of securing funding by yourself; they are on hand to help you through the process, and you can trust that they will act in your best interest.
It can also be valuable to build a relationship with a commercial finance broker so that if you need funding again as your enterprise grows, they know you and your situation to give you the best advice.
Unrestricted market access
Commercial finance brokers have access to the best deals on the market, which frequently wouldn’t be available if you went to the provider directly. This is because brokers get special deals in return for finding customers. Ultimately, the providers save time and money on finding customers themselves, so they can pass those savings on to customers using brokers.
Brokers also have access to and knowledge of less conventional funding methods that you may not have thought of, and will always work with trusted providers, so you know you are in safe hands.
Time savings
It’s your broker’s job to complete all the application paperwork for you and deal with correspondence from the lender on your behalf, saving you the time commitment involved in managing it yourself.
You can often get the money more quickly by using a broker, too, since they have established connections and providers’ due diligence on the broker is already done.
Peace of mind
Looking for someone with professional accreditation gives you peace of mind that you’re working with somebody you can trust, and who, in turn, only works with trustworthy lenders.
Trustworthy finance brokers are accredited by the Financial Conduct Authority (FCA). This means they have been evaluated and approved, and are subject to strict rules that ensure they act in a fair and responsible way.
Choosing an unregulated broker means you deal with someone who is not accountable to any entity. In this situation, there’s no guarantee that your transaction is trustworthy or that your confidential information is safe.
Commercial finance brokerage you can trust from Funding Round
We are proud to offer a personalised service to every one of our clients, using our collective years of business expertise to find you the deal you need to take your business forward. We take our professional responsibility seriously and are members of the National Association of Commercial Financial Brokers NACFB to ensure total transparency for the customers and lenders who work with us.
If you’re looking for an advocate and ally in navigating the complex world of business finance, get in touch to arrange a free consultation.