Commercial Finance Brokers Geelong

Business loans are great for numerous things. Some of the reasons business owners love them include the following: 

•   Having the opportunity to borrow $10,000 or more for business purposes.
•   Having the ability to make extra repayments, with an option to redraw funds.
•   Having the flexibility to make interest-only payments on the amount you owe.
•   The flexibility that comes with loan repayment options.

Enlisting the help of a commercial broker can assist in increasing business success. Working with an expert means that you can get access to benefits like:  

•   An extensive commercial lending experience
•   Strong relationships within the lender networks
•   A choice of over 30 lenders
•   Representation of your business to your chosen lender
•   A long-term client relationship
•   The use of competitive tension to secure great interest rates, structures, and reduced fees

It’s a common assumption that bankers and brokers are the same things. Although they both help you get a loan, there are a few main differences between them. These include:

•   A high turnover in business banking means you’ll constantly need to explain your business.
•   Bankers always look after the bank’s best interests rather than your businesses.
•   Banks have appetite changes in lending and policy which can restrict your business growth.
•   Banks won’t reduce your risk by spreading your loan across multiple lenders
•   As there’s no competitive pressure, banks can dictate the interest rates and fees.