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What is a Finance Broker?

In simple terms, a Finance Broker is someone who helps you find a loan.   In more complex terms, they are a financial expert who acts as a conduit between the borrower (you) and the lender (the bank).

Finance Brokers have access to a range of lenders with varying specialisations, and will call on their knowledge of your circumstances, and of their lenders niche’s to ensure a greater chance of you getting the right loan and most suitable terms.

In Australia, Finance Broking has a long and storied history dating back to the establishment of the Federal Bank of Australia in the late 1800s. As such, Finance Broking is a well-established and trusted industry in Australia, generating over 70% of all new finance and mortgages.

Finance Brokers have come to be the preferred avenue for borrowers to obtain a home loan, and for lenders to source new business as they make the application process easier and more streamlined, saving everyone time and money.

On the business finance side, use of a Finance Broker is a relatively young industry, but is now growing rapidly and most (if not all) lenders have dedicated broker channels and are funnelling their resources to accommodate the growing need

Do you know how to get the best finance deal for your circumstances?

As a professional in your industry, you know your business well, and can talk all day about what you do, how you do it, and where you’re headed

On the other hand, a Finance Broker knows their business well, and can talk all day about the process of obtaining a loan, who the supportive lenders are and how to go about successfully obtaining a loan

Why would you try to learn how to navigate a different industry (ie financial services) when you can outsource that responsibility and avoid the pitfalls of getting it ‘not quite right’.

Finance vs. Accounting: What's the Difference? | HBS Online

How BDA Capital Can Help

The Finance Brokers at BDA Capital specialise in getting the best deals for you.   Our role is not to sell you finance, but to take the time to understand your needs, make appropriate recommendations and take the headaches out of applying for finance.

We make it easier for you to achieve your goals.

BDA Capital gives you peace of mind knowing you have the most appropriate solution, your paperwork is filled out correctly and your application has the greatest chance of making it across the finish line.

Relationship

We’ll wager that you don’t have a personal relationship with your Banker, or they have changed frequently, or you have never had any personal Banker to assist you

BDA Capital offer just that, with dedicated brokers and long term commitment, we can take the role of a traditional Banker

Convenience

We’re available when you need us, and will work with you to understand upcoming needs and help manage immediate and long term requirements

Brokers are a one stop shop for all things lending

Knowledge and Experience

BDA Capital brokers have extensive experience across a range of financial structures, industries, and client profiles.   We understand the potential pitfalls of getting an application for finance wrong, and can help you work through any possible issues before they become a problem for you.
We understand lenders’ policies and procedures so will be able to advise you of the best course of action for a particular circumstance.   The advice may be not to borrow – which can save a mountain of work and disappointment and set you on the path of future borrowings.

Peace Of Mind

With over 70% of all new mortgages generated by Finance Brokers, and business lending quickly catching up you will have peace of mind and satisfaction that you are in a group with the majority of Australians seeking finance.
A bank will usually encourage you to acquire all your finance from the same place and whilst this may be OK a lot of the time, this “all eggs in one basket” situation can have impact on future needs. Your Finance Broker considers this risk and, if it’s in your best interest, can help you spread your finance across different lenders.

What does a Finance Broker Do?

  • Your Finance Broker ensures the loan you obtain is in your best interest.
  • Your Finance Broker helps you find a loan with access to a variety of lenders and the most appropriate finance deals on the market.
  • Your Finance Broker gets to know you and specialises in finding the most suitable and affordable financing options to suit your needs and your situation.
  • Your Finance Broker helps you prepare for the success of an application weeks or months before applying to give you the best chance of success.
  • Your Finance Broker takes the headaches out of applying for finance, making it easier for you to achieve your goals.
  • Your Finance Broker helps you complete your application to ensure you have the best chance of approval.
  • Your Finance Broker acts as a conduit between the borrower (you) and the lender (the bank).
  • Your Finance Broker speaks the bank’s language, so you don’t need an interpreter.
  • Your Finance Broker helps you preserve your credit rating.
  • Your Finance Broker doesn’t work for the bank.

Chris White

BDA Capital | Franchise Finance Specialist

M: 0429 490 950 E: chris@bdacapital.com.au

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Posted byMark FernandezPosted inFranchising, Latest News, Newsletters

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