Loan Broker - Broker simply facilitates the loan application process. Business Loan Consultant - An advisor and long-term business partner - Handles and ensure smooth loan application process -Get competitive payment terms and rates - Improve chances of loan approval - Access alternative financing options - Get the right financial tools & products to achieve client’s business long-term goals visit :https://bizsquare.com.sg/loan-broker-vs-business-loan-consultant/

1. Loan Broker vs Loan
Consultant

2. O V E R V I E W
Many people ask, what is the point of hiring a business loan
consultant when I can apply for a loan on my own? (This
often happens before they use our services and they are still
not sure what we do). Is it worth hiring a broker for a
business loan in Singapore? This is suitable for business
owners seeking business loans to 몭nance expansion,
working capital needs for cash 몭ow purposes, or equipment
upgrades. What I usually tell them is: “Think of us as PR
consultants and we have helped many foreigners apply for
their PR status. You can always apply for PR yourself, but the
chance of rejection is very high, especially in Singapore. “.
where they are receiving adjusted fees ”. We can help
because we know what attributes the 몭nanciers are
considering to approve your loan. Applying for a commercial
loan is an extremely tedious process. In fact, for many small
business owners, getting started is an extremely di몭cult
process (especially the 몭rst time); because banks can make
a lot of requests. Most SME owners don’t know what the
bank might be looking for. With more than 10 years of
experience in the corporate 몭nance industry, let me clarify
the role of a business loan consultant.

3. Loan Broker
Broker simply facilitates the loan application process
Business Loan Consultant
An advisor and long-term business partner
Handles and ensure smooth loan application process
Get competitive payment terms and rates
Improve chances of loan approval
Access alternative 몭nancing options
Get the right 몭nancial tools & products to achieve client’s business long-term goals
B E N E F I T S O F
E N G A G I N G A L O A N
C O N S U L T A N T

4. Contacts and Network
Working with so many banks and 몭nancial institutions in the past allows them (and you) to know
which one offers the best deals. Loan brokers know where to 몭nd 몭nanciers that suit your 몭nancing
needs.
R E A D M O R E
Expertise and Experience
Aware of the market, including indicative rates and knows when a loan is overpriced. He has
knowledge of the common types of collateral offered as security for taking on a loan.
R E A D M O R E
Practical Advice
A good loan broker ALWAYS has a Plan “B” ready and a plethora of alternatives prepared for you just
in case; advise you on possible reasons your application is rejected and how to improve on credit
standing in future.

5. R E A D M O R E
Favourable Loan Terms
Have an experienced broker access your case and understand how you can improve your credit
record before you even start submitting your loan requests
R E A D M O R E
Handling Small Details
Assisting you with the nitty-gritty of loan packaging, will free you from grinding all by yourself and
increase your chances of getting approval for your business loans
R E A D M O R E
Sharing Same Interest
By sharing the same interest, the consultant will try their best to make sure your loan gets approved
and will not short-change your application, as their fees are based on this.

6. R E A D M O R E
W H A T D O B A N K S L O O K
O U T F O R W H E N
A P P R O V I N G L O A N S ?

7. CREDIT STANDING
A loan broker who does not have a contact number and an o몭ce or postal address
identi몭ed with his brokerage business makes one question the legality of his business
or even its existence.

8. FINANCIAL STANDING
You can ask a broker how much commission he’ll be realizing when he brokers for you.
You also have the right to ask about his network of lenders and important details such
as the full cost of the loan he is arranging for you.
LIABILITIES

9. You should not engage a broker whom talks big and are able to “guarantee” loan
approval. The truth is, no matter how competent a broker, no one can guarantee
assured loan approval as the 몭nal decision lies with the bank’s credit approver.
Q U A L I T I E S O F A L O A N
C O N S U L T A N T
PROPER BUSINESS PREMISE
A loan broker who does not have a contact number and an o몭ce or postal address
identi몭ed with his brokerage business makes one question the legality of his business
or even its existence.

TRANSPARENCY OF DETAILS
You can ask a broker how much commission he’ll be realizing when he brokers for


10. you. You also have the right to ask about his network of lenders and important details
such as the full cost of the loan he is arranging for you.
NO OVERPROMISES
Beware of brokers who guarantee a loan without checking your credit and 몭nancial
history. Don't be blinded by these guarantees. Although there are obvious problems
that may weaken your loan application.


11. BizSquare is a one-stop business consultancy 몭rm providing Loan Consultancy Services, Accounting and
Corporate Secretarial Services, Branding and Marketing Consultancy, Strategy Management and Start-up
Mentorship.
For more info, please visit Bizsquare Group at www.bizsquare.com.sg
About Author
Cheryl Ee
Loves Dogs and does website design for a living

12. Business consultancy firm specializing in business loans financing, financial management and branding and
marketing for Singapore SMEs.
Contact
61 Ubi Road 1, Oxley Bizhub #02‐19, Singapore 408727
Phone: +﴾65﴿ 9183 4413
E‐mail: admin@bizsquare.com.sg
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