Finnex Singapore

Advantages of Getting a Loan Broker

For many business start-ups, getting a loan is often a necessity not just at the early stages of the business but also as it continues to operate and introduce plans for expansion in the future. However, not all entrepreneurs and SMEs know where to best get a loan or how to even start applying for one.

This is where your trusted loan broker in Singapore steps in to help you find the best deal you can get when it comes to business loans. Though it may seem that consulting with a loan broker will just be an extra expense for your business, the benefits can further outweigh the costs especially when you realize how searching for the right loan and getting approval can easily become such a daunting and energy-draining task.

Here are some of the advantages when you hire an experienced and knowledgeable loan broker:

Best Loan Deal

Simply put, the aim of your loan broker is to get you the best loan deal in the market. This means lower interests rates, faster approval, and of course a loan amount totaling to what you applied for or as close to it as possible.

Guided Application

It’s not easy to get the best deal if you don’t even know where to start. With a loan broker on your side and working for your best interests, you have a professional you can consult with regarding available financing options for your business goals.

Make sure you give your loan broker complete documents showing your business profile and financial status so he or she can better match you to the right creditors. If you think your loan broker is not able to give you a good offer, it’s best to search and consult with other brokers.

Faster & Hassle-free Processing

Compared to doing it on your own and trying to figure out where to go and what documents to submit, hiring a seasoned loan broker who already knows the process from application to approval and release of funds will be so much faster and hassle-free. This means while you are waiting for your loan approval, your broker takes care of all the underwriting on your behalf, which gives you more time to focus on major things that matter for your business such as your Marketing, Business Development, etc.

On average, a reliable loan broker should be able to take care of your application and get results in less than two business days. Regarding the release of funds, you can expect an average of 1 to 2 weeks depending on your business profile, financial situation, and the type of loan you applied for. In other words, if you have a professional loan broker assisting you, you can get the funding you need much faster.

If you are considering taking up a business loan, we can help!
Finnex is a business loans specialist with a wide network of banks, financial institutions, and non-traditional funding platforms that could help you get faster approval for your funding needs.

Contact us today for a free consultation.