A business loan broker is helpful when you need an urgent loan to meet company requirements. It helps you save time finding the right business loan and the direct lender that meets your needs and affordability. Moreover, a business loan broker by your side eliminates the chances of dealing with a fraudster. Instead, the person matches you with the verified one from his contacts.
So, if you want to get an instant loan without dealing with the hassle yourself, contact the best business loan broker in the country. Yes, it may be challenging to spot one, given a multitude of parameters. Don’t worry, and the blog lists the best business loan brokers to contact in the UK marketplace.
Which are the best business loan brokers to contact?
If you have been searching for the best brokers for a business loan in the UK marketplace, read ahead. The following lists the best business loan brokers to contact for your needs. Identify the industry they share expertise in, their personal business needs and other aspects. Here are the best business loan brokers in the UK marketplace:
- Hilton-Baird
Hilton-Baird shares an award-winning expertise in business finance brokerage, debt collection and risk management. It helps businesses manage cash flow and risks and achieve business and finance objectives. They specialised in connecting business owners with direct lenders sharing expertise in invoice financing, Asset-based lending, business loans and trade finance. They also provide commercial currency exchange solutions.
2. Clifton Business Finance Brokers
Clifton Business Finance Brokers are the customer-trusted companies. It is a fully independent and FCA-authorised business finance broker company. It started with residential bridging finance and now covers a diverse spectrum of business solutions. You can contact them for asset finance, revolving credit facilities, invoice finance, merchant cash advances and Trade loans. You can even use their very own business loan calculator to know the stakes.
3. Genie Lending
Genie Lending Ltd. is a NACFB-accredited commercial finance broker famous for helping businesses that otherwise struggle to get a loan. It offers verified and useful solutions to companies with different financial requirements. It is known for its lightning-fast unsecured business loan processing.
Individual businesses seeking finance in England, Wales and Scotland may contact them for assistance. You can contact them for business financing solutions like- Invoice discounting, cash flow funding, development funding, agriculture funding, working capital finance, etc.
4. Thebusinessfunds
Thebusinessfunds is a popular business broker name in the UK marketplace. It offers a vast selection of business finance products for companies belonging to any industry. You can contact the experts for unique needs like- business loans for dental practice and debt financing. Most initial-stage dentists may contact for affordable and personalised quotes. It does not charge anything except the broker fee.
You don’t pay more than the ideal count. You can contact the company for needs like- construction finance, commercial finance, asset finance, inventory finance, e-commerce finance, and truck finance. The company share a host of verified and reliable direct lenders. You can contact the firm for any small or long-term requirements.
5. Ringrose business finance
Ringrose Business Finance is a popular broker that helps businesses, especially in construction, property development and invoice finance. They offer a wide range of solutions with access to a multitude of direct lenders. It researches every business need and offers viable solutions accordingly. Go through the case studies for a better idea of their operations and approach.
6. Choice business Finance Brokers
Choice Business Finance goes beyond the traditional modes to help businesses. It tries to assist business owners by rolling out solutions that mainstream providers don’t offer. If you seek transparency in every business loan process, this is it. They work in the best interest of their clients. Instead of keeping things in the garb, they prefer building long-lasting relationships.
However, you may still struggle with the ease of getting a loan with the company. For that, you can turn to Thebusinessfunds. It is a popular destination for ease of loan processing, sanction and repayment follow-ups.
7. Funding Xchange business loans
Funding Xchange Business loan brokers are popular for their tap on advanced lending structures. They are known for their faster, smarter, and simpler financial services to businesses. You may quote an initial quote in 3 minutes and funding within 10 minutes.
This speed, accuracy and efficiency sets the firm apart from the rest. However, sometimes, the sophisticated platform may lag. It may delay the funding for some time. You may check them out for merchant cash advances, fast business cash, and secured and unsecured business loans.
8. Funding Options
Funding Options Brokers are mainly popular among solo-prenuers and startups. It is because they provide instant cash to companies that may otherwise struggle to qualify. If you want urgent cash for launching a new product, product development and investing in technology, consult them. The platform also educates new businesses with detailed guides on loans and grants.
9. Loans Warehouse
Loans Warehouse is a highly rated broker on popular business loan review sites like Trustpilot. It is famous for its expertise in dispensing bridging loans. Their loans start from just £5000 to £1000,000 with the facility to repay early without penalties.
It has been accredited with Moneyfacts awards, the personal finance awards and the best second mortgage broker. However, it is comparatively costlier than other business loan brokers in the market. Thus, compare your options and act wisely.
Always check and compare the brokerage fees, application charges, legal fees, valuation fees, and exit fees. Check the structure of the fee while finding the best business loan broker in the UK. Understand whether they demand a flat fee, a percentage of a loan or a commission from the lender. Prefer one with a reliable, affordable and transparent loan structure.
10. Swoop business finance broker
Swoop Business finance broker company is popular for helping SMEs with affordable finance solutions. It offers business grants, loans, equities, and tax credits. It works with major banks and direct lenders to provide the most personalised funding solutions. If you struggle to decide on the right business loan, use the tools and guide. You may find ample on the website.
What is a business loan broker?
A business loan broker is an intermediary between businesses and direct lending companies. They analyse your business cash needs, business plan, and finances and provide the right direct lender. He utilises his expertise, industry knowledge and relationships with direct lenders. It helps him provide you with the best and most affordable direct lender according to your circumstances.
Why Should you use a business broker?
A business loan broker may be useful in exploring your loan options. He may help you analyse the lowest-ever loan quote and interest you can qualify for by comparing the lenders. Here are other situations when you can consider a business loan broker:
- Understand different loan options and terms
- Find the best quote with a lender that meets specific needs
- Want to ensure an expert touch in the documentation and application process
- Simplify the complex financing needs
How much should you pay a business loan broker?
Be conscious while paying the business loan broker. Every broker has its specified payment criteria. Always check the fee structure before dealing with a business loan broker. Read the fine print for hidden charges and penalties. Moreover, understand the commission structure and how the lender pays the broker. It will help you choose the right broker. Here is what the basic structure looks like:
- Some brokers may charge an upfront fee for their services.
- Some take a commission from the specific lender for their services (you don’t need to pay in this case.)
- Some brokers may charge a fee upfront and receive a commission from the specific lender. It is a rare and complex case.
Bottom line
These are some top business finance brokers to check for your needs. He compares the charges, terms, eligibility criteria, document requirements and hidden charges. Yes, document needs may vary according to the specific lender. Here, the broker may help you sort the things. Thus, it saves you time and money. Yes, money, in that case, if you get a higher-interest loan when you get an affordable one.
Harry Kane is a financial writer and author who has covered wide topics related to business loans and finance for the last decade. He has been working as the Chief Contributor in finding out deals on various business finance products covered by Thebusinessfunds, a reputed business loan broker firm in the UK. The primary work of Harry is to analyse the loan requirements of various businesses according to their circumstances and affordability. He directly communicates with the loan aspirants and guides them to get the right loan matching their needs. He has a vast experience in finance writing, working with many major business firms in the UK. At Thebusinessfunds, Harry also used to write well-researched blogs covering the financial problems of business loan aspirants and providing relevant solutions. He is a postgraduate with MSc. in Banking and Finance.
