Brokers Advantage in 2021

The delays and extended approval decision making that we are experiencing is playing into our hands. The Commercial Equipment Broking sector that we are a part of, is currently experiencing its busiest period on record.

73% of all Commercial Asset deals settled are settled with Banks & Finance Companies via a Broker.

An East & Partners Broker Channel Analysis commissioned by CAFBA in February 2020 found that 72.9% of new commercial asset finance transactions are settled through commercial brokers. According to Scottish Pacific’s SME Growth Index, SMEs value ease, speed and ongoing support most when choosing a lender. As accessing finance becomes more difficult, brokers are best placed to provide these: as an advocate for the client, they can present a range of options that meet business needs and structure more complex deals appropriately. As well as simplifying the application process for clients, they reduce the risk of error, which speeds up approvals.

Domenic Lo Surdo, Managing Director of Stamford Capital and member of CAFBA’s Board of Directors, says brokers are the new relationship managers.

“Most customers don’t have a relationship with their bank like they do with their broker. Turnover of bank relationship managers means brokers have taken on that role.” If you are experiencing painful delays when looking to access finance through your Banks, then please give us a call today to see if we can assist you with your requirements and take the stress out of the process.

Speak Your Mind