Business Loan Brokers | Get Small Business Loan Advice
A business loan broker helps small businesses learn more about commercial loans and financing. Getting business capital from banks and other lenders can be a complicated and lengthy process. Small business loan brokers help borrowers through the process of finding the right type of loan, gathering documents and materials for approval and underwriting, and communicating with the bank.
A Business Loan Broker is an Asset for Your Small Business
For small businesses looking to take out a loan, there are several loan options from many different lenders, which can be overwhelming. A business loan broker takes the hassle out of finding small business financing by advising borrowers on what type of small business loan would best fit their needs.
Commercial loans also have long lists of required materials, like the SBA loan checklist for SBA 7(a) loans. These can become tedious, but a good business loan broker can walk a borrower through the steps, answer questions, and provide assistance in gathering these documents.
Great, but how much does this cost?
Some broker services, including Claris Finance, are free to the borrower, depending on the partnership the broker has with the banks.
In other cases, loan brokers may charge borrowers a fee before they begin advising a borrower. They may even have the lender roll this fee into the loan.
A good business loan broker typically has a strong relationship with a handful of partners and earns a modest fee, paid by the bank, for finding new customers. Some types of loans have restrictions, like the SBA loan program, which includes strict broker fee regulations and disclosure forms.
Finding a Business Loan Broker
Claris Finance can advise you through the entire business loan process. The Claris team works with a wide network of lenders and can match you with financing that best suits your company's needs. Contact Claris today to get started!