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The advantages of using a loan broker for your sme loan

The advantages of using a loan broker for your sme loan

The advantages of using a loan broker for your SME Loan – Loan brokers have long been dubbed the bffs of SMEs, and SMEs worldwide have since a long time ago, tapped on brokering services to expand their size. Yet, do people actually know enough about what these brokering services actually are, and who can really benefit the most out of these services?

Today, our very experienced team of brokers tell you the 5 Golden Reasons as to why you should use a loan broker for your SME loan (if you haven’t), and tell you more about the wholesomeness of loan brokers:

  1. Your Bridge to Banks, Your Bridge to Success

Look up loan brokers’ official websites and you would realise that their ‘connections’, ‘networks’ and ‘contacts’ with banks and financial institutions are major buzzwords. But true enough, a loan broker is only as strong as its connections with the local financial intermediaries.

Loan brokers often have long-lasting relations with banks and lenders, which they use to secure the best deals for their clients. They not only have an extensive database of lenders to run through, they have the negotiating power with lenders to provide you with the best deals in town – the quantums, interest rates and bank processing fees are surely better than those you can ever find yourself.

  1. Knowledge is Power

Many loan brokering companies are made up of ex-bankers and people who have had vast experiences in the finance sector. They are privy to bank procedures and credit underwriting criterias, laws in the moneylending industry and market rates.

On this note, loan brokers are also able to facilitate your hunt for the deal that matches your requirement the most. To illustrate, going for an equipment loan is certainly different from how you would go about getting an unsecured loan. Brokers are the gatekeepers to that shortcut to successful loans; regardless the type of loan you are looking at, their insights will have something to value-add to your loan acquisition journey.

  1. Your Trusted Advisor

If your bank loan application was rejected before, you can probably understand how vexing it feels – knowing there’s some reason why the bank is refusing to give you a loan, yet not knowing what it is. And it’s worse if you get rejected by multiple banks, that feeling of disappointment, anxiety and confusion can get really overwhelming.

But if that’s the case, then loan brokers may be your miracle pill. As neutral third parties, they can offer you the most objective feedback that your firm may very well need to get the loan approved. Not to mention that this advice is professional advice. Loan brokers often have encountered hundreds of clients in your plight that they’re able to flag out the faultlines in your business just by reviewing your business profile.

So if you think brokers are merely agents to help you borrow money, think twice.

“The advantages of using a loan broker for your sme loan”

  1. Go Hassle-Free

In everything it does, every firm wants to be efficient – time is money; and wasted time means wasted money means trouble. But when it comes to a complex issue that is business loaning, how efficient can an independent firm be, given its imperfect information about loans?

That’s where loan brokers come in to help.

Firm owners can wholeheartedly entrust their loaning issues to loan brokers and depend on them to seek the best loan deals for them in just a day or two. No fear, no worry – just let the brokers do their stuff, while you concentrate on your day-to-day operations that you’re familiar with. At the end of the day, you get the best of both worlds, without any headaches or wasted resources.

Go for loan brokering today, go for efficient.

  1. Your Interests In Mind

Let’s face the ugly truth – it’s hard to expect anyone to do be trying their best for you unless they are getting something out from it that is worth their input. Save for the fact that this person is someone close to you, in the business world, we often don’t expect strangers to offer us assistance just out of pure goodwill.

The same logic actually applies to loan brokers. However, because loan brokers earn their commissions only from approved loans, there’s greater reason to believe that they would go the extra mile for you. Some charge commissions as a percentage of the loan amount they get for you, so the more you get as loan, the more they make as well. Loan brokers are your allies, don’t brush them aside!

“The advantages of using a loan broker for your sme loan”

Conclusion

Loan brokers may be more helpful to your business than you have ever realised, and if you think you need one today, don’t hesitate to engage one now to support your business funding and growth! After all, no harm in doing so, since many loan brokers offer free consultancy services, you pay only for results. Work with a loan broker today, and you’re in only for results.

 

The advantages of using a loan broker for your SME Loan

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