It is one thing to take out a personal mortgage loan to buy a home when the borrower has a secure job with a salary that will provide plenty of funds to cover repayments. However, business owners know that their profits can vary from year to year depending on a variety of factors, not all are under their control. Cashflow can also vary even more frequently in an unstable economy. It is important that they obtain a loan with the very best interest rates and the most flexible terms to accommodate those variations without the bank disrupting cashflow by unreasonable demands. Banks always give themselves great power in the fine print of their loan contracts.
The Borrow Better facility puts borrowers in charge. That is a big change from working with a bank or a bank-paid broker, where the bank begins and remains in charge of the loan facility. When four or five banks have competed to lend to a business and the business owner after some discussions and analysis of the loan offers, has chosen one, that bank looks after them and the other banks stand ready to pick up the business should that banking relationship sour in the next year or so. It also means that instead of a very substantial brokerage fee being partly paid as an establishment fee and partly capitalised into the loan repayments, the chosen bank will probably reduce or eliminate the loan establishment fee.
Businesses that have used the Borrow Better facility, have run with the same lender and excellent relationships through good times and bad for decades. That may be because most have engaged The Borrow Better founders GBAC business loan consultants to ensure that the loan is serviceable by the business and that the business is run on sound profitability principles so that it can always cope with the loan.