Three mistakes to avoid when applying for Business Finance

We work with small, medium and national companies all credit ratings catered for

 

“The biggest myth out there is that all Finance Companies are the same; this truly is not the case”

 

Mistake 1

Applying to the Right Finance Company and getting a last minute turndown


About once a week I am told, well I did apply to this Company but we were unexpectedly turned down at the very last moment.

I am left thinking to myself, they actually went to the right Company, but it was turned down by the underwriters, because they did not fully understand the proposal and it was not presented in the right way.

We would have got this deal through, because we can speak to the decision makers direct and cover anything that could adversely affect the application.It is entirely normal we get an agreement in principle before putting the application forward formally.

Mistake 2

Leaving a needless Financial Footprint


By going to the wrong type of Finance Company or not correctly knowing what that particular underwriter needs to see to approve Finance at the best rate.

You will leave a Financial Footprint, the worst outcome would be for a Credit Application to be turned down, because the underwriter thinks well if they turned them down they must know something I don’t, better not risk it.

Mistake 3

Not using a Finance Broker


You are probably thinking, he would say that wouldn’t he?

Well your expertise might be in Construction, Building, Manufacturing or Retail, you know how to do what you do through your knowledge and experience of that marketplace.

Finance Companies are not all the same, most have acceptance preferences in the following areas.

Company turnover

Industry Sector

Credit rating of the business and some look at the Directors in detail others don’t, some finance companies are fine to finance HMRC debt. We know which companies to go to.

One MD of a large finance company told me 3 weeks ago

“Hey Mark, I had a look at your cases and we are running at an 89% acceptance rate”

It does help he handles all my cases personally

With well over a 100 Finance Companies to choose from, it is possible to say yes to most requests.

You are very welcome to pick up the phone and discuss your future possible requirements.

Please call me on 0800 612 5364 or 07710 466166

Very best wishes, If you would like to find out a bit more about me, there is plenty on the internet or click on my LinkedIn profile below.

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.

If your business is looking for;

Any type of business finance that is what we do.

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 building related industry, I did my first construction case in 1990.

Best wishes, Mark

 

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