Whereas previously, everybody knew their local bank manager and was able to schedule a meeting when they needed one, in modern times the reality is rather different. In fact the traditional bank manager is on the verge of extinction, and small business owners need other avenues to get the finance which they need to grow their businesses.
And using a commercial finance broker, like ASC Finance for Business, is proving to be more and more of a successful avenue for businesses. According to the National Association of Commercial Finance Brokers, small business lending via brokers has increased by 20%.
Adam Tyler, Chief Executive of the NACFB said “Availability of funds is no longer the issue, but there are still significant barriers facing SMEs who are looking for finance. Foremost among these is awareness. Small businesses don’t have to rely on their high street bank for credit, but few are aware of the full range of alternatives out there – or that an independent broker will be able to match them with the best lender for their needs.”
For more reasons on why you should use a commercial finance broker, see our small business guide.