SMEs are often unaware about the financial options available to address immediate cash-flow issues or realise commercial opportunity. Brokers provide a critical advisory role in identifying the right solution to address the individual circumstance and objective of their client.
But as a broker how can you do this? How can you help SMEs get the right loan?
- Analyse client’s financial situation
Educate the clients about the different types of financing available, like the short term business finance and caveat finance, and gather essential information about the client’s finances. Importantly, the client’s credit history (personal and business) should be assessed as part of the analysis.
- Use expertise and networks
SMEs often require immediate cash flow injections to address balance sheet issues or to enable business expansion. Tap into your networks to assess the products and lenders suitable to the growing requirements of this sector. Be aware of loan terms, changes of circumstances and fees involved.
- Match the right lender to the client
Flexibility, competitive rates and speed of delivery is highly valued. Typically, this excludes tier 1 (traditional) lenders, and is more in line with the tier 2/ specialist finance space. Time in business, credit history, loan term and purpose are key elements for consideration.
Interim Finance specialises in SME financing that meets the specific business requirements for this growth sector. The company consistently provides best-in-market rates, flexible solutions, and efficient, thorough and compliant turnarounds (with most financing secured within 5-7 business days).
There’s a lot of upside in diversifying into short-term finance, and becoming a solution provider to the lucrative SME market. Talk to us and realise this market potential with confidence: 1300 731 317
To get an idea on how our loan process works, click here.