Importance of credit history for business loan approvals
There are multiple factors that can cause a rejection in your loan application. However, the one that is most common is the credit history especially
Every business strive to grow and need finance from time to time for capex or working capital purpose. For this, they require financing options. The conventional way would be to go to a bank or any other traditional financing institution. But there is a drawback! Traditional financing has stringent assessment criteria and requirements which may all the businesses may not be eligible, especially small businesses.
Owing to this, business owners are now exploring alternatives for securing the finances needed to help their businesses prosper. This is where commercial financial brokers come into play. A commercial finance broker has access to multiple bank and private lenders offering a suite of business loan options to get the right solution for your business. Here we present three reasons why choosing a commercial finance broker is beneficial for you rather than directly going to the lender.
For fuelling your business with funding, choose a financial broker who can bring the best deal to the table. However, always go with a broker who possesses certifications and memberships that lend legitimacy to his activities. Besides, try to find out whether a particular broker deals with your data responsibly or not. As one of the leading finance brokers in Australia, you can always go with Broc Finance.
Saroj is the Head of Lending at Broc Finance. He comes with 13+ years of experience in small business lending and has a knack of structuring complex deals and get the best outcome for his customers.
There are multiple factors that can cause a rejection in your loan application. However, the one that is most common is the credit history especially
The COVID-pandemic of 2020 left a devastating impact on businesses all over the world, including the Aussie SME sector. David Jones, a general contractor and
Equipment finance is a convenient financing solution for businesses that need to buy new equipment. These solutions are also available for upgrading or replacing their
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