Business Finance Broker

Questions to ask your business finance broker

Financing growth within any business can be challenging, particularly when it’s capital expenditure. Coming up with the money up-front to make critical equipment and technology purchases can affect cash flow, and deferring such investments until the money is available can slow growth and result in lost opportunities.

Asset finance is the solution. By shifting capex to opex, you give your business access to the tools that it needs immediately without the cumbersome up-front costs. Finding the right business finance broker to facilitate such an investment is critical; you want a partner that understands your business and develops appropriate finance solutions to assist with your growth.

With that in mind, here is a list of important questions that will assist when talking to your business finance broker.

Is my broker invested in the success of my business?

All businesses are different and good finance brokers understand that and will provide advice to assist you with growing your business. A finance broker should listen when you tell them exactly what your finance requirements are and in turn come up with a solution that best meets these needs.

Do they offer home loans, asset finance, business loans, working capital and personal finance?

Good business finance brokers don’t approach their work with a one-size-fits-all strategy. Your finance broker should offer a wide range of services, so that, as your business grows, there will be more flexibility and options for you to choose from. These services should also extend to meeting your personal finance requirements.

Additionally, within the various forms of financing, there are a range of different options, and a business finance broker should be agnostic in terms of what they recommend – it should be about how your business can benefit, not the source and type of financing offered.

Does my broker have the requisite experience and qualifications in commercial and asset financing?

You want to make sure that your broker has the appropriate accreditation, and that he or she should be a licenced finance broker. Being licenced means that your broker is proven to adhere to the highest levels of professionalism and ethics, and actively undertakes ongoing professional development.

Does my broker have an extensive panel of lenders?

Having a strong relationship with a diverse panel of lenders is the key to success in the broking market. This ensures that you will have the opportunity to work with lenders that are best aligned to your business goals and customer needs.

At Avenyou we understand that every business is unique. By understanding your goals, opportunities, and challenges, your broker should work closely with you to understand your business finance requirements and offer an appropriate finance solution for your business.

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