There have never been so many lenders active in the market before, but who should you approach for your business finance? The high street banks? The specialist lenders? Or even those in the peer-to-peer space? Every single one will have different criteria for each different sector. It’s a minefield just working out who could be the right lender for you.
And that’s before you even get to talk about what type of finance that are on offer. You could be after an unsecured commercial loan, asset finance, finance for developing a property. These all affect which lender your application should go to. Also need to be mindful of whether you are seeking an interest only loan, how many years you wish to repay the loan in… etc.. etc.. etc…
It pays to use a broker. They will have built up relationships with lenders who they can approach on your behalf. They will know how to present your application in the right light and who will have the appetite for your funding application.
