As a business owner, it is likely that you’re interested in expanding your operations, acquiring new property, or pursue company growth in other ways—all of which require money. Therefore, you may need a commercial loan to attain your goals and objectives—and working directly with a bank might not be the best option.
In a case such as this, a business owner will discover quite quickly that there are thousands of lenders out there offering all kinds of different lending products—and the idea of going through multiple application processes is daunting, distracting, and time consuming.
This is where a commercial loan broker can be a valuable partner.
In this blog post, the team at Filmore Capital will discuss how working with a commercial loan broker can help a business owner or commercial investor uncover premier financing options, better enabling your short and long-term success.
What is a Commercial Loan Broker?
A commercial loan broker is a professional who specializes in helping a financially healthy business owner or investor with revenues ranging from $10M to $100M. Generally speaking, a commercial loan broker is recognized as an expert in commercial finance and possesses the ability to consult on the best strategy for obtaining a commercial loan.
Additionally, a commercial loan broker should also boast an extensive network and have access to a wide variety of commercial lenders, connecting their client and allowing them to receive the appropriate financing for their targeted business endeavor and getting the best rates.
What Types of Commercial Loans Can a Broker Help With?
A commercial loan broker can source a variety of loans, including for:
- Purchasing commercial real estate, such as multifamily, single-family portfolios, retail, industrial, office, and self-storage
- Acquiring a new business or pursuing a partner buyout
- Needing working capital for ongoing operations, expansion, equipment purchases, and more
Is it Better to Work with a Commercial Loan Broker Instead of a Bank?
Potentially, yes. We already mentioned that a commercial loan broker has access to thousands of lenders—as opposed to only one product or offering the way a traditional bank does. On top of that, the relationship with a commercial loan broker will be that much more personal. For instance, when a business owner or investor makes the decision to partner with Filmore Capital, they will firstly work with a single point of contact and will not be handed off to someone else in the organization.
Other Reasons Why a Commercial Loan Broker Makes Sense
If you are thinking about how a commercial loan broker could benefit your business, consider the following points:
- A commercial loan broker takes the time to understand your business and your industry. Prior to making contact with any lender, a commercial loan broker will seek to understand your objectives and targets. This is done to offer personalized advice, one-on-one consultation, and help you get the best financing deal.
- A commercial loan broker can save you time and money. Trying to search for a commercial loan on your own is time consuming and takes you away from your primary objective: running your business. When you partner with a commercial loan broker, they utilize the relationships they already have in place with lenders and their experience allows them to identify which loan is the best fit for your enterprise. They will shorten and streamline the process on your behalf.
- A commercial loan broker has experience in commercial finance that most people do not have. Just as you are an expert in your field, a commercial loan broker is an expert in theirs. They have vast acumen and knowledge pertaining to interest rates, repayment choices, and available options. They can also assess your situation and pick out the best lender for you.
Contact Filmore Capital
If you are considering working with a commercial loan broker as you pursue your next business acquisition, commercial real estate purchase, or some other strategic initiative, we would welcome the opportunity to consult with you.
Filmore Capital understands and knows the Charlotte metro market as well as the surrounding area intimately. It is our intent to be a true fiduciary for our clients, ensuring the best financing. We recognize that clients don’t always know their options and it can be difficult and time consuming to get a quick answer while also performing a competitive analysis with another lender.
And that is our sweet spot.
We welcome the opportunity to be a true partner and trusted advisor to you. Reach out today and let’s talk. Schedule a consultation now.