How Using a Finance Broker Can Save You Time and Money

One of the oldest but most universal rules in the book when it comes to good business is to always, where possible, cut out the middleman. By going directly to the source, you will usually find that whatever it is you need, you can save money on it or at least get a better deal.

Hence, there is a tendency among businesses and entrepreneurs to take their requirements directly to lenders.

All of which seems logical on the surface but can, in fact, prove quite a costly mistake. Where independent finance brokers are concerned, what you’re looking at is one of the few true exceptions to the above rule on cutting out the middleman.

When you apply for business finance of any kind using a finance broker, you could save yourself a lot of time, effort, and even money.

How can the involvement of a third party ever prove genuinely cost-effective? By bringing you and your business the following benefits, among others:

They know the available products inside out

Unless you have been working in the financial service sector for decades, you cannot expect to know and understand the full scope of funding solutions available.  Consequently, you may not know which of the products up for grabs is right for you.

By contrast, brokers who live and breathe commercial finance can help pair your requirements with the exact product you need. Often created from scratch as a bespoke solution, which you may not have realised was a viable option.

They can access exclusive deals and discounts

An experienced broker will work with an extensive panel of approved lenders, many of whom may not offer their services directly to clients. It is not uncommon for specialist service providers to issue finance exclusively via broker introductions, which means that working with a broker is the only way to access their products.

This is something that can pave the way for exclusive deals and discounts, the likes of which would not otherwise be accessible. A broker can compare and contrast offers from the largest possible network of lenders, ultimately translating to a better deal for you.

They can provide 100% objective information

The beauty of working with an independent broker lies in the fact that you also gain access to 100% objective and impartial advice. When you take your business directly to a lender, you cannot expect them to be completely honest. Even if they know you would be far better off elsewhere, they will attempt to win you over with their sales pitch.

With an independent broker, the information you receive is free of bias. They have no direct ties or affiliations with any specific brand, enabling them to provide objective advice you can count on.

They can negotiate on your behalf

Hiring a finance broker grants you access to their advanced negotiation skills. Your broker will take charge of negotiating on your behalf to ensure you get the best possible deal. This is something they do as a profession, putting them in a privileged position to support your business.

From interest rates to borrowing costs to terms and conditions, your broker will ensure all aspects of the agreement reached are amicable and affordable.

They won’t charge you a penny for the privilege

If all this wasn’t enough, the fact that all good finance brokers offer their support 100% free of charge means you really have nothing to lose. There is nothing to pay at any time, nor are you under any obligation to follow their advice.

Effectively, working with an independent broker combines the benefits of speaking to an experienced financial advisor with those of hiring a skilled negotiator. All without having to pay a penny for the privilege, irrespective of whether you go ahead or walk away.