Business loans are a fantastic option for companies who are looking to grow. Some of the benefits business loans have are:

• The opportunity to borrow $10,000 or more.
• The ability to make extra repayments with an optional fund redraw.
• The flexibility to make interest-only payments on the amount owing.
• The flexibility that comes with repayment option.

A commercial broker educates you on the financial ins and outs of your business. They work with you to help you make informed financial decisions that encourage business growth. Working with a commercial broker means:

•   You’re partnering with someone who has extensive commercial lending experience.
•   You will benefit from strong relationships within the lender networks.
•   You’ll have the option to choose from over 30 lenders.
•   You will represent your business to your chosen lender. 
•   You’ll develop a long-term client relationship.

On the surface, they may seem the same, but there are quite a few important differences between bankers and brokers. Some of these include:

• The need to constantly explain your business due to a high turnover in business banking.
• Your best interests aren’t always kept in mind with a banker, as they are always looking after the best interest of the bank.The appetite changes in lending and policy that the banks have, which can restrict your business growth.
• A banker won’t spread your loan across multiple lenders as a way to reduce your risk.
• Banks can dictate the interest rates and fees due to the lack of competitive pressure.