Staying on top of client needs – key questions for brokers answered
There has been an explosion of new lending products over the last few years. Basic ones, such as traditional bank loans, shouldn’t be disregarded, but it is clear that with invoice financing, secured and unsecured options all available on the market, there is a lot to manage. On top of this, each provider has slightly different conditions and requirements for their products.
The challenge is obvious: brokers need to stay on top of the needs from their clients, as well as that of new providers. But what does this all mean?
- Expand knowledge about alternative finance
- Diversify the types of financing used for individual deals
- Consider combining a secured with an unsecured loan, also called co-financing
All about collaboration?
- Diversifying beyond typical portfolio takes time, but the new opportunities will pay off in the long-term
- Brokers are increasingly interested in partnerships with alternative lenders
For the full length blog visit Financial Reporter, an online publication for the UK finance industry.