Short-term business funding – benefits to brokers
• Providing added value for customers
• Pays generous upfront commissions (earned more frequently)
• No claw backs for early settlement
• Diversifies income streams away from banks and large senior lenders
More and more brokers are making successful forays into the short-term lending space - and reaping the rewards. The trend runs parallel to a growing recognition of the opportunities that exist in short-term finance and mounting reports of profitability. Frustratingly for professional lenders however misconceptions still persist.
The perception that the process of getting a short-term loan across the line is difficult, time-consuming and expensive is quite erroneous. The reality is that in the vast majority of cases, it is fast and straightforward and the cost, when rationalised against the potential loss of a business goal, is both reasonable and justifiable.
Below a case where a broker and his client benefited from the association with Quantum Credit
“A client came to me seeking working capital to complete a new profitable contract. His Bank didn’t want to know. Quantum came up with the money, very quickly and without any hassles - and my client completed the contract in 6 months. He made enough out of it to self-fund the next contract and now he is going strongly. He was able to keep his business afloat, retain his staff, preserve his reputation and expand his business. He is of course very happy that I had a finance alternative for him and he has referred other SME’s to me for similar needs” - Ken Peters, Broker at Silvalake Flexi Finance
Borrowers’ success stories continue to find their way into the media and there’s a corresponding increase in the flow of inquiries to finance brokers and lenders in the sector. Another significant driver continues to be the indifferent attitude of the banks to borrowers with short-term funding needs.
Brokers who have not operated much in the commercial market are starting to think outside the square and to understand the value of short-term solutions and the opportunities available to them. Short-term finance is an integral part of the commercial loan equation and we at Quantum Credit invite brokers who are unfamiliar with this market to give us a call. We’ll walk them through their scenarios and soon establish if short term funding will help.
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