How do I apply for a business loan through a

2 min read

Multiple lendersOne application

PackagingThey present the case

Fee or commissionHow they earn

Complex dealsWhere they help most

What a broker does

A commercial finance broker takes your requirement, builds a presentable case, and puts it to lenders they think will fit — saving you approaching each one separately. A good broker knows which lenders suit which profiles, which can matter when your situation is unusual or you have been declined before. Applying through a broker does not change your eligibility, but it can improve how the case is presented.

How brokers are paid

Brokers earn through a commission from the lender, a fee from you, or both. Ask up front which applies and how much, and whether their remuneration steers which lenders they show you. A transparent broker will disclose this without prompting; be wary of one who will not, or who charges a large upfront fee before doing anything.

When to use one — and when not

A broker earns their place on larger, secured or complicated deals, or when previous declines mean you need the right door first time. For a straightforward small unsecured facility, applying direct online is often faster and cheaper. Either way, compare the final offers on total cost with the repayment calculator. You can always enquire direct as well to benchmark.

Frequently asked questions

Does going through a broker cost more?

It can, if they charge you a fee or if their commission is built into the rate. Sometimes a broker secures a deal you could not find alone, which offsets the cost. Always compare the total repayable against a direct quote.

Will a broker submit multiple hard searches?

A good broker uses soft searches to match you before committing to any single lender's hard search. Confirm this, so shopping through a broker does not cluster footprints on your file.