Have you noticed how easily Roger Federer swings a tennis racket, until you try and do the same thing and realise he has put in thousands of hours of practice.
Same as you, I could not do your job as well as you do.
We regularly secure for our clients interest rates of 10 to 50% less than they do.
Here is how we do it.
1. Out of the 100 odd finance companies and banks, choose the right lender for your requirement, business credit rating, industry sector and amount you wish to borrow.
2. Package the loan application, in the way that the underwriting team, of the finance company that you have chosen, wishes to see it. If you get this wrong, the rate will increase, you could be quoted an interest rate of 10%, but we could get 5% by getting this right.
For example, some underwriters will wish, more explanation on past issues or they might not like the purpose of the loan, this can be a real issue at the last moment, when the underwriter rings you up on the day of draw-down,and you give an answer the underwriter does not like.
3. When you apply for the loan, make sure you speak to a decision maker or a senior person, who can let the underwriting team know about any issue that might come up in underwriting at the last stage of the loan.
Trying to explain any relevant information to a form filler and you may as well be speaking to my Mum.
If the underwriter does not fully understand something the loan will be declined or you will pay far to much.
4. Try and make sure you introduce lots of businesses, to the finance company, when you apply for finance ensuring you receive the best service and rates, as they will not want you taking your bulk business elsewhere.
It’s the same in any business, best clients get the best service and deals.
I am sure it is the same in your business, you look after your best clients.
Please checkout are testimonials like this recent one.
Simon Jewell, The Pilot Inn
“Having used brokers before I didn’t expect Mark at Ringrose Business Finance to achieve a better interest rate that I could get from the finance company directly but he definitely delivered with a brilliant rate of 5.4% I thought it would be 10% and the loan was all sorted out within a week fantastic service I’m glad I decided to give Mark a chance.” Simon Jewell, The Pilot Inn
We were also lucky again when a client was hoping for 5-6% on 300k and we achieved 3.2%.
Have you checked out our testimonials?
I typically get a phone call once a week, that starts with “Hey Mark, I have been receiving your emails for years now, can you ………………….”The answer is normally yes, having built up a contact base to die for, over the last 25 years. Time wasters are always welcome to call me, there is nothing I like more than a challenge, I just happen to love what I do; I am a very lucky man. Why not pick up the phone and tell me what finance would ideally suit your business, let us be your Satnav helping you get there quickly and easily we work with all types of business including the construction sector.
PS- A Quick Tip
If you know you are going to need finance,to get a lower interest rate apply early (before you need the finance), with your cashflow as strong as possible
As you will be asked for your last 3 months bank statements, and if it shows a slight deterioration, you will be charged more in interest.
In these times of political/business uncertainty, wouldn’t it be comforting to know, that you had a line of credit available, just in case you needed it?
We can arrange this quickly and easily, why not sleep a bit better, knowing that you have a spare funding line?
Please give me a call on 07710 466166