Seeking commercial finance for any business is not without its difficulties and whether it is a bridging loan, leasehold finance, commercial mortgage or perhaps even a HMO or a buy to let mortgage; business owners can face many difficulties when attempting to obtain much needed finance.
According to the latest news reports, businesses are still struggling to?receive?commercial finance and with banks?persistently?declining many small and medium corporations the support they need; it is not surprising that all commercial loan applications are viewed as difficult endeavours.
Despite the Bank of England?s declaration into the end of recession and a promise of increased support to the small and medium businesses in and around the country via the funding for lending scheme; the struggle to obtain much needed lending still remains.
It appears that, the continuing economic strain has dubbed those unable to provide a hefty loan deposit, as far too much of a risk for any form of substantial lending and thus; the small and medium businesses which often fall into this category are often left stranded. The immediate rejection is not all that has worried a range of business owners, the worry also lies around hidden charges and abnormally high arrangement fees that have left those lucky enough to have received any support; in a far worse position then when initially started.
The unreliability of the high street lender may have proven many things but one issue it seems to have brought to light is the value of the alternative lender. For many years, prior to the economic recession, the alternative lender; be it the building society or the mortgage broker, was deemed as the unfashionable choice however, as a distrust in banking authorities grew, a new found trust in the alternative lender blossomed.
As an independent source of finance; the alternative lenders provide a better scope, increased trust and greater opportunity for financial aid. For the small and medium businesses that may or may not have suffered previous loan rejection, the commercial mortgage broker has proven to be a reliable and trustworthy source.
As an alternative lender; a commercial broker works on behalf of a business to source the ideal form of financial lending. Where one option may not be viable, another may be presented, as immediate rejection remains an unfamiliar trait to the broker.
The commercial finance broker offers a range of finance options that can include:
- Commercial Mortgage
- Buy to let Mortgage
- HMO Mortgage
- Bridging Loans
- ?Conveyancing
- Development Finance
- Invoice Finance
- Life Insurance
A specialist mortgage lender possesses access to strict portfolios of commercial loan lenders and can provide access, to a range of low interest loan opportunities. In contrast to bank salesmen, commission is not a factor and the success of a commercial broker lays in the success of matching businesses with the right lender and securing a lasting finance agreement.
By analysing personal and business finance records, cash flow, projections and the overall risk of a business and the lender; a commercial mortgage broker will always work in the best interests of your business and provide the best possible solution.
The benefits of obtaining commercial finance from an independent broker are endless and can include:
- Varying rates of mortgage (fixed rate, interest rate and so forth)
- Financial Stability
- Improved Business Cash Flow
- Low Interest Rates
- Tax Deductibility
Seeking commercial finance is still not without its difficulties however; with an independent commercial mortgage broker the opportunities are far greater. Using the LTV and DSCR ratios; a logical solution can be determined.
Financing commercial requirements, whether debt recovery or growth and expansion, can seem impossible in today?s difficult economy however, all avenues are not lost and the possibility of securing commercial finance still exists in the hands of the right lender?
Source: http://www.charlestonfinancial.co.uk/the-difficulty-of-business-finance/
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