A strong financial footing underpins all successful businesses. From SMEs to multinational corporations, having a healthy cash flow and access to funds when needed is paramount. This is why the majority of companies, small and large, recruit the help of a finance broker; a company that can assist them in accessing the financial services they need for the right price and at the right time.

Whether you are looking to take out a business loan, are seeking invoice factoring or want to explore the idea of development finance, having a reputable finance broker in your corner will only serve as an advantage.

Below, we look at the most important factors to consider when choosing a finance broker.

Reputation

Reputation goes a long way, especially in the world of finance. This is why it pays to partner with a finance broker that boasts a good reputation in the industry.

To validate a broker’s reputation and ability to serve your needs, a quick Google search will do the trick! By searching the internet for reviews and testimonials, you will gain an idea of the way in which a finance broker treats its customers, the processes in which they work towards and how efficient they are when brokering deals.

Fees

In most cases, brokers will charge their fees to the lender. However, in some cases, a broker fee will be applicable and required to be settled by you, the customer. Ensuring you are aware of any fees before appointing the help of a broker is, therefore, a necessity.

Whole-of-market finance brokers

A finance broker is only as good as its network and list of contacts. Partnering with a whole-of-market broker will ensure that as a business you are gaining a full view of your finance options. This will enable you to review all of the finance options and choose the one best suited to your business and its financial goals.

Availability

The likelihood is that one of the many reasons you have chosen to use a broker instead of shopping around yourself is to save time. In many cases, finance needs to be secured quickly. This is why ensuring your broker has availability and will be able to adhere to your timeframes is worth double-checking.

Sector knowledge

Different sectors will have different financial needs. This is why partnering with a finance broker that understands your area of work and has deep sector knowledge is always an advantageous move. Here at Simply Factoring Brokers, our team comprises specialist negotiators with a strong understanding of all industries, from haulage and construction through to manufacturing and service industries.

Contact Simply Factoring Brokers

Here at Simply Finance Brokers, we are experienced finance brokers, with our team made up of unparalleled industry talent. With leading negotiators paired with our extensive panel of funders, we are actively helping our clients source the finances they need, when they need them.

To discuss your requirements, contact us today.