There are currently over 6 million SMEs in the UK, and accessing finance is well known to most of these businesses. Having the right team behind you can ensure that you not only get the right finance, but that it is secured in a timely manner, without any hiccups. There are a few different players in the process of securing commercial finance, and we explain them a bit more in detail:
1) Lender – the right lender, means the right terms (including right rate, type of finance, terms etc) and the lender must provide clear information about the products and services required by the borrower. The problem for borrowers is that there are many lenders, and getting to the right one for what you need is not always easy.
2) Broker – It can be difficult to know which lenders are lending. A broker can assist in ensuring the strongest application is presented to lenders, the right lender is found, and you have someone acting on your side. At ASC, we have knowledge and direct communication with lenders approving financing which can highly improve your success chances.
3) Valuer (Often a qualified Surveyor) – Usually chosen by the lender and carries out inspections to determine the current market value of the service, property, or land. Valuers will typically produce a property valuation as a report, supplemented with photographs and a plan.
The process of commercial finance can be tricky, but ASC can always make it easier for you by simplifying the steps and increasing your chances of success. Get in touch for more information.
