A Finance Broker Can Be Your Advocate
A Finance Broker Can Be Your Advocate
One of the most frustrating things for a business owner looking to source finance to purchase or run their business is dealing with banks. It’s similar to how traveling can be the worst part of a journey. Once you reach the destination, everything falls into place. For a business owner, the main focus is on making, doing, or selling stuff.
The number one question is where to even start? Which bank, which branch, which banker, which product?
Do I need security? Can I borrow unsecured? What products do I need? How much will it cost? Can I afford it? What does it all even mean for me as a business owner? What if things don’t go to plan? Could I lose my house?
What happens when one bank says “no”? Does that mean all the banks will say no? Will I need to go to a private lender?
You’re thinking: Oh lord, what should I do? I really just want to run my business!
The reality is that you can either put up with it, fight your way through the system, get frustrated with all the forms and jargon, or mandate someone else to do it all for you. That’s where a finance broker comes into play.
As a broker, my role is to navigate the myriad obstacles for you, understand new policies, and keep you up-to-date with the best products for your business. I will provide you with ongoing support to ensure that your bank is offering you the best products, terms, and interest rates in the market.
When you’re running your business, whether that’s manufacturing widgets, serving awesome coffee, or designing the latest app, my business is to make financing your business easier.
So how do you know if a broker is a good broker?
First, we’ll spend time listening and understanding your business. We’ll want to meet you and see what you’re about. We won’t rush you and will happily explain anything you don’t understand. We will research your industry and understand the products, whether it’s refinancing your home loan to access extra capital or arranging lease financing for new equipment manufactured in Italy.
Second, we’ll be familiar with the various products available from different lenders. If one lender can’t meet all your needs, we will recommend your core business through a major bank while your equipment financing might be better suited to a specialist lender.
Third, we’ll understand finance and how the broader economy can impact your business. While brokers aren’t economists, we should be interested in what economists are predicting. A great broker will have a network of contacts in the financial markets who can provide recent forecasts for interest rates and the economy. This information can be translated into plain English for your benefit.
Finally, we’ll care! We’ll care like your business is our business. We will go the extra mile, make the extra call, and research the latest options so that you are always ahead of the curve. A good broker will stay with you and be your intermediary when dealing with the banks.
In practical terms, we’ll help you prepare your business plan. We’ll write your credit proposal and meet with the banker to negotiate the terms of your accounts. When your account is up for its annual review, we’ll look at where the market is at and determine if it’s a good time to renegotiate rates or refinance loans. We’ll discuss your plans for the next 6-12 months to anticipate any financing needs and avoid cash-flow issues.
We can work directly with your bank on your behalf to review your relationship, renegotiate rates and terms, or prepare a proposal for you to present to the bank. Every few years, we can review your business financing to ensure that you’re with the right bank offering the right products.
At Clear Options Finance, we have all the right skills and most importantly, we care about your business and your success. Your business is our business.
We will be your advocate!
To arrange a free 1-hour consultation with Clear Options Finance, call 0478 732 343 or email.
Tags: finance loans business finance finance broker
