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Scattergun Approach vs Targeted Precision – What works best for business finance?

We were speaking to one of our lenders the other day. They were telling me that they kept getting applications from a finance broker, which they always looked at, but always knew that they wouldn’t do the deal.


Because that particular broker just sent a two-line e-mail to every lender they could find, in the hope that they might find one to take it. So, 90% of the time the loan wasn’t right for the lender, and didn’t provide all the information for them to make an informed decision. So, whenever a fresh e-mail came in, the lender would be pretty sure that the loan wasn’t for them.

Contrast this with the other type of broker. The ones who take the time to understand the deal, think about which lenders might be right for the client and provide the lender with a clear overview and summary of why this is the deal for them!

Which approach is better?

We cannot say conclusively, but having arranged commercial finance for over 50 years, we believe that taking the time to understand each proposal and present the strongest case possible is preferable to chucking mud at the wall in the hope that it sticks!

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