Why use a broker for Equipment Finance?

Why use a broker for Equipment Finance?

Getting the right finance for your business can be a challenge, but talking to a broker could get you the keys more quickly. Purchasing an asset to help your business grow should be quick an\d easy so you can focus on what you do best – running your business!

When you add in the challenge of sourcing the right facility, structure and terms businesses owners can be forgiven for thinking twice about how to finance their next purchase. But the truth is, it’s not quite as hard as you think. Using an experienced broker can save you time and money.

Choices, not ultimatums

SB Lending have a direct line to a large panel of quality lenders, so they can crunch the numbers and give you a comparison of the best products available from that panel.

Our panel of lenders include the major banks as well as a range of regional bankers and specialised Equipment Finance lenders offering highly competitive rates and products. SB Lending have a deep understanding of the products available and can offer sound advice on your loan options.

While your current lender or the dealer is likely to do everything possible to accommodate an application, they won’t recommend a competitor down the road. It’s always best to shop around.

Answers, not questions

SB Lending brokers are steeped in product developments and trends, and can make sure you are asking the right questions at the right times. Whether it’s considering the advantages of a newer asset verse an aged one, SB Lending brokers can put their knowledge to work for you and your business. By working with your accountant we can structure your facility to meet your needs and business strategy. Real-time experience with multiple lenders also gives our brokers insight into things that are important during and after settlement, such as bank service levels.

Service, not sleeplessness

SB Lending brokers are human beings that borrowers can talk face to face and who will often come to your business or home to questions, even after work hours.

We also do the tiresome legwork of ensuring application and loan paperwork is processed efficiently and can speak to the right people if something goes wrong.

Savings, not costs

SB Lending brokers are advocates for you and your business to save time and money over the life of the loan. We may be able to source more competitive interest rates while using their relationships to negotiate rate discounts or other benefits, such as fee waivers. An SB Lending broker may also help you stay on top of any penalties, fees or other hidden charges or costs that might have a negative impact.

Reality and dreams

Optimistic first-time borrowers often approach a bank or broker wanting to borrow too much. Part of a broker’s job is to give these borrowers a helpful reality check. Lenders also have to adhere to the ASIC responsible lending obligations, meaning they will only let you borrow an amount that you have the ability to pay back. As part of the loan-application process, we often sit borrowers down to ask a range of lifestyle-related questions, as well as to assess the basics of income and future business plans.

By breaking down your statement of position we can help businesses adjust their expectations – before they find themselves sacrificing their lifestyle or longer term strategy.

The last thing business owners need is the added hassle of applying for a loan without the knowledge, experience and service of someone who does it every day. When you know someone has the keys, wouldn’t it be best to use them?

 

For more information about Equipment Finance contact SB Lending at enquiries@sblending.com.auor by calling (07) 3810 8355.