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The benefit of working with a finance consultant vs applying direct

The benefit of working with a finance consultant vs applying direct

Using a finance consultant for your funding needs can help you save time and close the gap to secure funds. Yet there are still business owners that choose to take on the task alone. They sacrifice valuable time in the business to try raise capital. In this article, we would like to show you the benefit of teaming up with a finance team by discussing a few points that can change your view.


You will discover:

1. The process of applying online direct

2. The role of finance consultants

3. The benefit of using a finance consultant

4. Free application assistance with Premier Finance

The process of applying direct

Applying direct will entail you managing every application directly with financiers. It starts with completing your application online and submitting your documents. For every finance company you apply with, you will need to repeat the process and follow up. Now because you are using direct channels, you have no personal contact to chat with. You are at the mercy of the contact centres and speaking to different people to get help.

If you have no experience or knowledge of private funders (not a bank), you will need to turn to google for options. Google can provide pages of options. The challenge is to navigate and differentiate between scams and legitimate websites. Just last week we helped a business owner that applied for a loan online and was asked to pay upfront money. He was scammed out of thousands of rands for a loan that never existed. This is the world we live in today…

The role of a finance consultant

A finance consultant works as an external agent for multiple financiers. For every finance house they will have a code and a signed contract. This enables them to start the application and connect their client with an analyst. They manage the application process and ensure their client receives prompt feedback.

To get started the director only must complete their application once with the finance hub. The consultant will use the information to connect with suitable partners. Generally, the consultant tries one finance house at a time. Based on the outcome, they may try another partner in the network. Should the business not meet the criteria to qualify, they can provide guidance. The business can either reapply in a few months or consider other finance solutions.

The benefit of using a finance consultant

The greatest benefit is the opportunity to leverage someone else’s network. Why go spending time searching for partners and applying with multiple companies if you don’t have to? Your funding mission will be successful when the money is in the bank. So why not close the gap, and save yourself so much time by working through a professional?


A finance consultant has a direct contact at every finance house they work with. They have dedicated team members that they are in constant contact with. This proves to be valuable with improving customer service and managing the process. The financiers support their finance consultants because they keep supplying more applications. They have a vested interest to ensure the finance consultants are always happy. This will keep the passive applications flowing.


Free application assistance with Premier Finance


One of the reasons why businesses prefer to deal directly with financiers is to save on fees. Some finance consultants charge an upfront fee and a success fee to raise capital. The fees get set by the finance consultant and can be anything from 3%-5%, sometimes more. This means the company will need to settle the raising fee from the working capital they receive. With less money going into the business and more capital being paid to finance costs.

At Premier Finance, we do things differently. We raise capital up to R7 000 000 at no charge to our clients. We don’t charge upfront fees or success fees. Instead, we are rewarded by the financiers that approve the facilities. Our fees are included in the finance charges that you pay to the finance house. So, all the capital you receive will be injected into your business. There is no need for you to pay finance consultants or additional finance fees.

We work with applications that meet our minimum criteria and ethical principles:


1. The business must be registered, or a vat registered Sole Prop

2. The turnover should be at least R85000 every month.

3. All directors must have clear credit records with no judgements, defaults, enquiries, or listings

4. For secured loans the business needs suitable assets double the value of the loan amount

5. We don’t assist any business that trade animals or make products containing any animal ingredients.


In December Premier Finance was awarded the prize for the most activations in 30 days. We were able to achieve that with a handful of applications. Our success lies with us understanding our finance partner’s process and requirements. This is information that is not visible on a website- its internal information that we have learnt from experience. Every finance house has their own risk criteria, and they assess applications differently. We use this information to match our clients with the right partner, so we close the funding gap.

Conclusion


Selecting the correct finance consultant can help you save finance charges and time. The business can close the funding gap and directors can still focus on what matters most.

At Premier Finance, we charge no fees for raising capital up to R7000 000. This is a service we offer for businesses that meet our application criteria.

Get in touch with us today, there is no risk and opportunity for your business to thrive.

Complete our application form here: https://premierfinance.co.za/unsecured-business-loan/

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