When looking at car finance to buy a new or used car, one of the first questions you will need to co...
Small and medium-sized businesses felt the strain throughout2020. Luckily for them, stability and confidence throughout the small business market are on their way up. Now that these businesses are finding more solid footing, they are beginning to look to the future and think about the possibility of expansion.
Business expansion and growth are the only way SMEs will continue to thrive in the current competitive markets. The only issue here is that just because these businesses see stability, it doesn’t mean they have excess cash flow. Even though their operating cash flow might be solid, as a business, they cannot grow without an investing cash flow.
As a broker, you are aware of how often small and medium-sized businesses run into this problem. They are looking to accrue new assets that will help their business thrive. However, if they do, it will interrupt their operating cash flow. So, you know that naturally, Asset Finance is an excellent way for you to help them with the issue.
Once your potential client has approached you with their scenario and wants to get Asset finance options, you, as their broker must get to work. Trying to find suitable loan options for every client is the most crucial part of your job. However, if your client has a small or medium-sized business, big lenders aren’t always forthcoming.
What often happens in this situation is that big lenders, usually big banks, won’t offer many small or medium-sized business asset finance options because they haven’t been in business long enough or they don’t have enough capital. They are seen as too risky to lend to, when often they can be some of the most loyal customers. So, as an Asset Finance broker, you now need to search for a solution. You will need to find the right option for your client even if the big lenders aren’t offering any available options.
In this case, your best option is to look to reliable non-bank lenders, especially those who specialise in providing asset finance options to small and medium sized businesses. A non-bank lender will usually have lending criteria that are more suited towards SMEs, so it is more likely they will have a plethora of options for your client. If you are an asset finance broker looking for a reliable non-bank lender to offer loan options to your small and medium sized business clients, then look no further than Grow Finance.
Grow Finance provides a range of tailored fast and simple finance solutions for small and medium sized businesses across Australia. They are the perfect place to look for available asset finance loan options for your clients if the big lenders aren’t giving you any options for your clients. So, if you are a finance broker, and want more non-bank solutions for your clients, call Grow Finance on 1300 001 420 or head to the website to read more about our offerings.