Inflation in the UK is at the highest level we’ve seen in 40 years, with interest rates continuing to rise. This is, naturally, bad news for businesses, especially SMEs looking to invest in growth, as it’s now more difficult to secure external funding.
For many businesses, investing in assets and commercial property is the key to growth and expansion, but the outright cost of such significant investments often acts as an impassable barrier.
Fortunately, there is a way to simplify the process and secure the finance you need: partnering with a commercial finance broker.
In this article, we look at the many business benefits of working with a commercial finance broker.
What are the benefits of working with a commercial finance broker?
There are many benefits to partnering with a commercial finance broker, especially if your business is seeking external funding in the form of a loan or mortgage. Here’s why you should partner with a commercial finance broker:
Access knowledge of the industry and interest rates
No one expects a business owner to be an expert at commercial finance, and the best way to gain access to in-depth industry knowledge is through a commercial finance broker.
For example, a commercial finance broker will know exactly where they need to go to get the best deals and interest rates, as well as which lenders are the most appropriate for your organisational requirements.
Gain access to specialist lenders
Alongside their expertise, your broker will also be knowledgeable about specialist lenders. The advantage of this is that they will be able to secure you unique finance options outside of traditional lenders (such as banks), options that will be significantly more suitable to your needs.
In-person communication
When dealing with a matter that is so important to the success of your business, the last thing you need is to be forced to deal with sluggish lenders who are impossible to get hold of.
By partnering with a commercial finance broker, you can maintain regular communication with someone familiar with your business, instead of being just another cog in a larger financial machine.
Transparency and clarity
A commercial finance broker’s business depends on their reputation, which means that they have an incentive to maintain regular, honest communication with their clients.
This means they will keep you informed throughout the process and be transparent about the details of securing your finance.
Saves time and additional expenses
Partnering with a commercial finance broker will often save you time and money when finding the best finance solution for your specific business requirements, which means that you can focus on what you are best at – running your own business.
Access more competitive rates
Due to their relationship with lenders, commercial finance brokers often have access to more competitive rates and terms than would be otherwise available to you on the market.
Direct applicants for businesses would not have access to these specific rates, meaning that a commercial finance broker can often find you a better deal.
Secure the funding you need with Bespoke Commercial Finance
Traditional lenders often provide the finance options that work best for them, not for your business, focusing more on closing a deal than finding you the best finance solution.
At Bespoke Commercial Finance, we understand that you don’t have the time or resources to dedicate to finding the best finance options.
That’s why our goal is to stand out in the commercial finance industry, prioritising our clients’ interests over our own. And we think our clients agree – 86% of our business comes from referrals.
Our established network of contacts and finance brokers place SMEs in the perfect position to receive the best rates and terms on the market.
If you have any further questions or would like to find out more about the services we provide, don’t hesitate to get in touch with a member of our team today. We’re on hand to help.
