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How To Choose The Right SME Loan Consultant For Your Business?
22 Jul

How To Choose The Right SME Loan Consultant For Your Business?

As a business owner, chances are that you would have heard of a SME loan consultant/ broker or might even have engaged one before. Generally, a loan consultant assists commercial clients in achieving their goals by finding them the right lender. As business owners prefer to save on time and hassle, or when lenders are unable or unwilling to provide the necessary loan, a loan broker will then achieve better terms for you from their experience and network.

It is important to seek and engage the right SME loan consultant for your business. Here are some pointers to look out for to make sure you are in good hands:

  • What is the consultant’s experience in handling your application? 

Find out some basic information about the loan consultancy firm online – their establishment and track records of the type of clients they have assisted previously. Look out for testimonials. Some brokers have more experience dealing with certain industries than others. Find a firm that has dealt with clients of a similar trade to yours; they will be able to advise you on facilities suited to your cash flow needs.

  • Does the consultant help you to analyse the financial performance of your company?

A professional loan specialist is able to review your financial documents and provide an accurate analysis of your company’s financial standing. They will be able to provide you with an unbiased opinion and advise you on whether it’s the right time for your company to explore additional debt.

  • Were there any over promising on the amount of funds obtainable for your business?

With a proper analysis conducted, an experienced SME loan consultant will be able to give you valuable insights on your business performance and potential pitfalls when it comes to the use of debt leveraging. Also, being aware of the probability of your loan being approved can help in making decisions and capitalizing on opportunities.

  • Do they see your business the way you see it?

Scaling to greater heights and achieving financial stability/freedom is what every business owner aims to achieve ultimately. Find a loan specialist that genuinely wants to help bring your business to that level. Find one who cares enough about your business to go the extra mile for you and is there to direct your company not just on your finances, but also other aspects of your company where that extra capital can come into play. Find one that aims to be there for your business at every stage of your growth.

  • Do they provide you with resources or connections to improve your business?

Working with a SME loan consultant, especially one you have forged a good working relationship with can give you access to a solid network of people who might be able to help your business at one point in time. Keep in mind that loan brokers not only do have access to lenders but they also have a connection with numerous business people of various industries due to the nature of their trade.

While hiring a loan broker would incur additional expenses, but a good SME loan consultancy firm will make you realize it is money well spent after all.

Capitalize is a corporate loans specialist firm that helps SMEs to seek, source and obtain capital from our established network of 35 banks, financial institutions, funding houses and alternative platforms. With sincerity and integrity, we are always committed to deliver a high level of service quality and provide our clients with the most suitable loans for them to grow their businesses to the next level. 

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