Comparison Interest Rates Across Our Finance Portfolio
Refer to our handy and comprehensive interest rate chart to compare the rates we are currently achieving and offering across our loan portfolio. Compare the repayments on Chattel Mortgage with Leasing, Rent-to-Own against Leasing, see what your repayments may be on a general secured or unsecured commercial loan. It’s free to use and essential in your asset acquisition and lending tool kit. For a firm quote, contact us with your brief.
Why Use A Business Finance Broker?
A broker for business loans has become an integral for business owners and operators. With the emergence of new commercial lenders on the financial scene, the tightening of lending restrictions by some of the major banks and time pressures on business people, sourcing cost-effective, tailored financial solutions for asset acquisitions and other purposes can be challenging for commercial operators to handle themselves.
We save businesses time, a lot of hassle and have the ability to tap into lending sources which are only accessible by the industry.
Our services are available to all sized businesses. You don’t need to have a huge operation to access professional broker services. In fact, small business loan Australia lenders will undertake bargaining power and research all the options and resources.
Busines Loan Broker Services
A broker provides businesses with an independent, financing-sourcing service. Commercial brokers are accredited with a selection of banks and lenders, referred to as their lending panel. The financial institutions must accept each broker and extend the accreditation to access their lending facilities on behalf of their clients.
Depending on individual brokers, the services include:
- Take your brief as to your requirements and objectives.
- Canvass their lending panel for quotes for your loan.
- Utilise industry-only lenders.
- Negotiate on behalf of their client to achieve the cheapest interest rate and the most attractive loan terms and conditions.
- Present the client with a quote and on acceptance, will proceed to finalise the finance contract and in some cases, assist clients with the paperwork.
- All broker fees and charges must be disclosed to the client. Fees may vary.
Commercial Loan Broker Benefits
Establishing a great working relationship with your preferred broker for your business can be an extremely valuable asset.
- Access to a greater range of lender options which translates into more choices and the cheapest deals.
- Access to industry-only lender sources not available to the general public.
- Saves time by handing over the task to an independent broker that is working only in your interests.
- Saves the hassle of having to contact numerous providers, study the quotes, compare terms and conditions, negotiate on rates and deal with a load of paperwork.
- An independent broker is working in your best interests so they have the flexibility to tailor your finance to suit your requirements not necessarily meet strict guidelines as imposed by the banks.
- The expert and professional brokers have significant bargaining power in their sectors of operation. Those that write a lot of business with certain lenders, will have more chances to negotiate you a better deal than if you attempt to do that yourself.
Selecting a Broker for a Business
There are many companies offering finance brokering services and it is important that you select the individual or company that you consider will best deliver the outcomes you need.
Here’s a few tips on selecting a broker:-
- Specialist experience in your industry is preferable but not essential.
- Accreditation with many banks and lenders. The greater the number of accreditations and the quality of those lenders, is a sign of the high regard that broker is considered in the industry.
- Experience in financing the category of goods/assets you require a loan to acquire. For example, home mortgage brokers tend to specialise in home mortgages but are not experienced in loans and other commercial finance.
- The broker must be licensed with ASIC as a credit licensee. This is essential and you need to ask for their Australian Credit Licence (ACL) which you can verify through ASIC.
- Member of the FBAA (Finance Brokers Association of Australia) is preferable.
- Being located in your geographical area is not essential as broker services are predominantly conducted by phone and email.