As the world emerges from lockdown and the economy of Nations are beginning to reboot, cash flow is going to be one of the biggest issues for SME owner-managers.
It has always been a crucial factor, but for the next couple of months it’s going to be of critical importance as businesses recover from the effects of the Covid-19 shutdown and look to take advantage of the economic bounce-back. .
Most SMEs have little or no relationship with their bank, and a general lack of quality advice and support that they can trust, so they could be forced to go it alone and try to secure the funding they need by themselves.
That is not going to be an easy task, and it’s one that is fraught with difficulties if you don’t know what you are doing.
That being said, commercial finance brokers fill the gap for SME owner-managers with expert funding advice and in this article, I’ll be walking you through some key reasons why you should use a commercial finance broker.
EXPERTISE AND EXPERIENCE
Commercial finance brokers are business finance experts, with many years experience in sourcing funding solutions for SMEs.
By that, you could rely on your accountant for business finance advice and nuggets to keep you on top this fast-moving industry.
Lender appetites, new products, eligibility criteria, etc., there’s a lot to it.
Commercial finance brokers mostly focus on commercial finance so we are always completely up to date with what is going on in the market, the huge range of funding options on the market, and which lenders are truly open for business.
Most commercial finance brokers have many years experience working for banks and financial institutions and have actually lent money to businesses themselves, so they have a deep understanding of what lenders look for in a finance application.
At B2B Capital Partners, for example, we have over 20 years lending experience to fall back on and this puts us in a fantastic position to provide really valuable support to our clients, helping them access the cash they need to grow their businesses.
WIDE MARKET ACCESS
Good commercial finance brokers have relationships with every reputable lender in the market.
Mainstream banks, large financial institutions, alternative finance and specialist lenders – it’s our job to cover every base, so you have access to the best funding solution for your business.
There are over 100 lenders on B2B Capital Partners’ lending panel covering a broad range of funding solutions including asset finance, invoice finance, business loans, bridging finance, development finance and commercial mortgages.
We don’t charge any up-front fees
Most brokers, such as B2B Capital Partners, operate on a ‘no win, no fee’ basis – we only get paid when we successfully secure the funding you are looking for.
Better yet, the lender we place your business with pays us a commission so our service to you is effectively free of charge.
FINANCIAL SECURITY AND GUIDANCE
Because we are managing and completing deals day in, day out – and have many years experience in doing so – we know what you should be paying for in your financing arrangement.
We negotiate directly with the lender on your behalf to secure the best possible rates and we are very proud of the fact that, on average, B2B Capital Partners reduce our clients financing costs by 17%.
The business funding market is vast, complex and constantly changing and if you don’t know what you are doing you can waste a lot of time and money trying to find the right lender and funding package for your business.
Owner-managers that go it alone can often make 3 or 4 unsuccessful applications before finally getting somewhere – having spent months on it.
CONCLUSION
With the support of a broker like B2B Capital Partners, we take the hassle and stress away from you by managing the full application process with the lender from start to finish. And because we are able to anticipate any issues in advance, we speed up the process considerably and greatly increase your chances of being approved.
This is why we are able to boast a 98% application approval rate for our clients.
Are you trying to get funding for your business?
Let B2B Capital Partners focus on getting the finance, so you can focus on running your business. Speak with one of our experienced advisors today, tell us what you need, and we’ll go the long haul for you.
What exactly do you stand to lose?