One of the first questions I get asked is “What will it cost me to use you? I can organise a business loan myself!”
There are two things that come to mind in the first instance, which will help to explain the mindset to which formulates this question.
- Would you instantly think about using an insurance broker or mortgage broker?
- What could it cost you to not use a broker for any finance arrangement?
So to answer the question in advance (though you can find it on our website) I want to let you know what it would cost you to use us, but what it would also cost you to not use us, or any broker for that matter.
The short answer is £300! That’s right, it will cost your business £300 to have a Commercial Finance Broker, a fully “FCA regulated” and member of the “National Association of Commercial Finance Brokers” broker, to organise your business loan or business finance, in its many forms.
The long answer is this, our fee is £300 to provide and implement a finance arrangement, whether that be a business loan, asset finance, invoice finance etc. BUT if we have secured you business loan or commercial finance AND we have received a commission or payment from the lender…. you get your £300 back.
Yep, you read that right, we will refund you the fee. Why I hear you ask, it’s very simple, if a lender is prepared to give us some of their money, why should it cost you extra!
See the truth is, anyone could organise a business loan or asset finance arrangement or even a commercial mortgage; what the fee is for is the expertise, the time and effort of searching all of the relevant lenders, and comparing the right finance arrangement that fits your business profile and your long term business plans.
So, to my second question, what would it cost you to not use a broker? How much does your time cost in your business? £20 an hour, £50 an hour, £150 a day?
How long are you prepared to give to ensuring that your business loan or invoice finance facility or Overdraft facility is exactly what you need?
Your £300 buys you time, expertise and most of all confidence, confidence that someone has done the leg work for you and that if your application is successful you get the money back; and if it’s not, you’ll get help and guidance as to what you need to do, to make sure the next application is successful.
Whether its for insurance, a commercial mortgage or a business loan, brokers are your safety net to give you the advice and carry out the work needed to give you the best chance of success.
You wouldn’t dare think about getting your mortgage or pension secured without an advisor or mortgage broker, so why leave your business to chance?