7 Things Clients Look for When Choosing a Brokerage

7 Things Clients Look for When Choosing a Brokerage

Working with financial intermediaries offers business owners many advantages. Primarily, a financial intermediary can help you identify the right funding mechanism for your needs. Whether a business needs help with leasing equipment, securing lines of credit, or help identifying a financing partner, an intermediary can be an asset. However, as a financial intermediary, you should understand what clients are looking for and make sure you are meeting their needs.

1. Experience Matters for Clients

One of the primary reasons a business owner turns to a financial intermediary is their lack of knowledge about financing options. Experienced financial intermediaries help business owners understand what types of financing they might qualify for, what the costs associated with various financing options are, and what type of financing is best suited for their needs.

2. Industry Knowledge Matters to Clients

When a client is interested in working with a financial intermediary, they are going to ask about specific industry experience. Having experience in construction financing is helpful if you focus your marketing efforts on dealing with contractors and sub-contractors. If you have a lack of experience, you may not be able to advise your clients of the best options for their business model.

3. Communication Matters to Clients

Business owners have numerous challenges which they must deal with on a regular basis. When they are working with a financial intermediary, they depend on them for clear and regular communication. No business owner wants to discover weeks into a funding proposal they are missing documents, or they have no chance of securing financing. A financial intermediary must always remain in communication with a client, and make sure they are being honest with them regarding their potential for securing financing.

4. Loan Products Matter When Selecting a Broker

If a client goes to a financial intermediary, they expect they will have a menu of product offerings. If a financial intermediary is dealing only with local banks, the client is facing the same limitations and challenges as if they were going to the bank themselves. Being able to offer a broad range of products is important for growing your business, and to serving clients most effectively.

5. Competitive Rates are Important

Business clients do not want to pay any more than necessary to secure the financing they need to maintain their business. For a financial intermediary, this means not only must they offer a variety of products, but those products must be competitively priced in order to secure new clients.

6. Competitive Fees Will Help You Win Clients

Financial intermediaries who charge a reasonable fee will nearly always do better than a financial intermediary who has fees that are typically above industry standard. Clients understand when they are working with a financial intermediary they are paying for services but since they are cost-conscious, they do not want to overpay for these services.

7. Value of Time for Clients

Business owners are often facing time challenges when they are searching for funds for their business. This means a financial intermediary must be able to review the client’s documents, understand their funding needs, and come up with workable solutions to meet their needs. A skilled financial intermediary knows where to turn to meet their client’s unique needs. This is an important skill that is developed through experience and industry knowledge.

Business owners in underserved industries often face unique issues securing financing and as a financial intermediary, it is important you know there is help available. Whether your client is part of a minority-owned business, a contractor or sub-contractor, or a staffing company, Capstone is available to help. You can feel confident that regardless of whether you refer one client, or one-hundred clients, you will always be paid your origination fee for as long as your customer continues to do business with Capstone. We offer a full range of products, we offer financing to business owners who are in industries with unique financing challenges, and we are committed to helping financial intermediaries grow their businesses. If you want to learn more about how we support our referral network and their network’s clients, contact Capstone Corporate Funding today at (212) 755-3636 and see how we can help you grow your business

Share the Post:

Related Posts

Scroll to Top

Submit your information to be directed to the download page.

Join Our Newsletter

Our free monthly newsletter is a resource for many finance professionals and business owners looking to stay informed on everything business, finance, and factoring!