Why Commercial Loan Brokers?
There are probably 15 banks in your city – MAYBE one of them is a national top 10 SBA lender. Do you know which one? If you chose the wrong one, you may become one of many people who mistakenly think SBA loans are not worth the hassle.
What if you apply for a loan with a bank that doesn’t like your industry? They will run your credit, delay you for weeks, and eventually decline you. Then, all future banks will see you were turned down and think there must be a reason for them to decline you as well!
A good Commercial Loan Broker prevents these problems by using experience and industry insight to find the right financing for the right price to fit your need. They also help avoid the start up internet lenders who may not have the best of intentions. Therefore, a good commercial loan broker is a valuable partner to any business.
When do you need a Commercial Loan Broker?
- Don’t have time to talk with multiple banks
- Have unique needs that don’t quite fit the average bank
- Don’t want to risk credit being pulled by multiple internet lenders
- Don’t understand the business loan process
Benefits of using the right Commercial Loan Broker
- Saving Time – you don’t lose 3 months waiting for a bank to say, “No”, and then have to start the process over at another bank
- Saving Money – quotes from multiple sources encourage competition and promote better loan terms
- Saving Headaches – experts help with loan packages, processes, communications, and solutions
A good Commercial Loan Broker will paint a realistic picture for you. Promising funds in 24 hours is not realistic, but you see that in slick advertisements all the time. If you have bad credit, they should say up front, that you will only qualify for high interest rates. If you are offered a daily payment loan (which we do not recommend), they should tell you the risks before letting you take it. If you can get better terms by improving credit, waiting till the next month, etc. they should tell you. If they can’t help, they should say so.
At Complete Business Capital, we take seriously our responsibility to put client’s needs first. We only work with top tier SBA lenders, banks who want to do loans, and finance partners who have proven themselves trustworthy. We want to do what is best for your company, even if we don’t get a loan for you. So once we know the specifics of your scenario, we’ll give you honest feedback and recommendations. We are happy to help you succeed now or later – that’s what partners are for.