In the range of funding solutions available for SMEs today, short term lending has emerged to be one of the most viable options.
Yet despite the growing demand for short term finance in Australia and its ever-increasing client base, some brokers shy away from short term lending, assuming the process is too complex or expensive. But this is far from the truth.
Benefits to Brokers
Tapping into short term lending expands brokers’ service offering. But that is not all. Branching into this niche market enables brokers to take advantage of a host of opportunities and benefits, including increased revenue, fast and upfront commissions, and client retention.
Furthermore, because short term finance solutions can be customised to meet a client’s specific needs, brokers are able to uniquely position themselves in the market and gain a competitive edge. This is especially important when catering to Australia’s growing SME business sector where quick access to working capital and finance for business opportunities are essential.
Seizing the Opportunity
Like any entrepreneur starting a new venture, brokers must first ensure that they have adequate understanding of what’s involved when entering the world of short term finance.
Make sure to keep abreast of industry updates and news; ask questions; carefully understand the needs and situation of your client; and partner with the right loan provider.
The importance of finding the right lender cannot be emphasised enough. Choosing professional, experienced and trustworthy loan providers is critical to your business’ success as well as in preserving client relationships. It’s vital to look for a lender that has a good track record and solid reputation in the industry.
Want to realise the full potential of short term business finance? Talk to us. Interim Finance is a trusted provider of short term loans, including 1st mortgages and caveat loans in Australia. We offer the most competitive and best-in-market rates as well as a complete back-end service.