A business finance broker is someone who will act as your middleman; providing a service in the form of help to raise finance for your business (be it a micro, small, medium or large business) and at the same time providing you with the best options available to you. They will arrange the business loan process from start to finish and usually charge a fee, or are paid a commission by the lender. This is one of the many tasks our professional, experienced and friendly team do best at RBSS.
Your best option in obtaining help to raise money for business, such as working capital, Start-up loans, revenue based loans and other business loans and access to finance to expand your business etc, would be through an advisory and brokerage service like ours.
Having laid the foundation; we can now go into the many benefits of the use of a business finance broker in advising and guiding you with your business development plans.
1. They know what the banks and commercial institutions want and get you the best deals
This heading speaks for itself! Knowing your finance options counts! The truth of the matter is that, whether you are a start-up business or an existing business that wants to grow the company to the next level, you may need some form of cash injection to help you on your way, alongside the right plan. It is therefore crucial you know what each available option has to offer; such as business loans, angels, equity funding, Peer to peer lenders, etc. Some funders will want to see a business plan and financial projections, to help them decide if investing in your idea (through a loan) is going to be a viable option or not. At RBSS, our professional, experienced and friendly business consultants are daily working with the different financial institutions and therefore have the required knowledge to advise and guide out clients with the correct financial assistance and loans of the many that will apply and benefit you most. As we all know what appears to be the right deal doesn’t always turn out to be the best especially where access to finance are concerned. Work with a broker to see the pros and cons.
Some alternative funders don’t require a business plan, but carry out their assessments in a different manner. The business advisors at RBSS Consulting in Romford, Essex, help companies of all sizes get finance ready. They will guide you through your creditworthiness and what you need to personally do to ensure that you not only get approved for financing but you also get the best possible deal that suits you and your business most.
2. They do the leg work to the very end
At RBSS, we will take away the burden and stress of searching the market and handling claims. In a nutshell, we will take the responsibility of securing the right and more beneficial business loan on your behalf.
When you talk to different financial and business advisors about getting access to finance, you’ll get similar but sometimes varied advice and often the first step is to write a business plan which most people; including those who have been in business for years will find very daunting or may not know where or how to start. It all depends on the business’ particular circumstances. We at RBSS Consulting, a business advice and consultancy firm, has helped raise funds for hundreds of small and medium size investors and will take the stress out, match you to the right business loan lender and make all the contacts, phone calls (you won’t need to speak to them which could be very daunting with all the business financial jargon that will be thrown at you!) and if you get any of the questions wrong (which is very easy to when nervous), this could cost you the business loans or grants which you need and are very much entitled to.
Therefore once you have communicated your needs with the broker, your work is done. They will do the rest of the leg work for you and communicate with their panel of lenders, saving you the time, stress and hassle of searching yourself. Brokers are on your side and will work tirelessly to show lenders that your business is worthy of funding.
During the Coronavirus pandemic, not only did our financial and business advisors help clients secure loans suited to them with a low APR, some of our clients were able to secure grants as well.
3. As they hold your hand and take you through the process and after, you will also have a lot to learn on how to develop your business for the future yourself
This will give you complete peace of mind and confidence knowing you’re in good hands and at the same time, learning more about and how to run your own business more successfully.
In the event of a claim and or general queries brokers guide consumers through the claims process and effectively manages the claim on their client’s behalf. However, a business finance broker will also go further by; advising on business expansion strategies to fund new products or services. A Business Advisor could also advise you on if you want to expand or divert your business too, with the intention of getting more customers. They can also help you carry out a Business Valuation, Performance and Health Check Service if need be to improve business performance by making your business sustainable, compete effectively, improve profitability, structure your decision-making process and achieve business goals to ensure it is on the right track. Often, it has been the service of a Business Valuation, Performance and Health Check Service that has revealed the need for a business loan or what kind of loan will be best suited for your business. They will take the time to understand your business and see in what other areas you need help. At RBSS, we pride ourselves with our excellent record of; ‘customer experience’, which is not something many banks or financial institutions can pride themselves on.
Navigating the business funding market is no easy task with very little standardisation of information and misaligned incentives even for those who have been running a business for years. Especially as trends, the law requirement, policies etc are changing rapidly which includes post Coronavirus pandemic. Working with a broker will ease this burden as they are on hand to give straightforward answers to your questions, providing transparency and clarity. Finding a business loan can and does have a major impact on financial health and should be treated with the same level of care as any other financial decision. Brokers will offer reassurance and act in the best interest of your business.
They will source out the small print or hidden commitments/rates which you may overlook especially in your desperation to get the help to raise money for business.
5. A very important point which could also be overlooked is; they can be called upon even long after the business deal has been sealed and closed
They could become your friend and also give you personal business advice which you often wouldn’t get from a bank or commercial institution. At RBSS, we thrive to go beyond our call of duty and many of our long loyal clients have been obtained through word of mouth from our profile and happy clients.
During the Coronavirus pandemic, due to our advice, many of our clients were able to start up a new business or divert into a business that was more profitable or suited to their lifestyle. The latter which is not often considered when going through a business start-up. Aligning your business with your lifestyle and commitments is crucial. Otherwise, your business could be doomed to fail before it’s even had the opportunity to take off. Ever heard of the saying; “If You Fail to Plan, You Are Planning to Fail” — Benjamin Franklin.
Have you also heard of the saying; ’It’s lonely at the top’? This could be said of many people in the self-employment sector. A business finance broker’s leading duty is first to his or her client. They look to building customer loyalty and long-term relationships and spend time getting to know and understand the needs of their clients. At times, even friendships are built if desired from both parties. However, what’s most important, is the passion to see to the welfare of the client and the success of their business as these two go hand-in-hand.
It is said that 60% of businesses who search for finance give up after getting turned down by the first lender and that a recent study from the British Business Bank found that businesses accessing external support when looking for funding are more likely to become high-growth companies.
Our professional and highly experienced team at RBSS Consulting Ltd have already and continue to deliver measurable results to those businesses we have rendered our service to, which is known as a business diagnostic to our clients and we expect them to add on between 25-35% directly onto their bottom line within six to twelve months of using our service.
If you would like such help, give us a call today on 0333 355 1696 or send us a message.