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Commercial Loan Broker – Save Time and Money

If you are looking to purchase a new piece of equipment for your business or acquiring a commercial building, using a commercial loan broker for your financing can save you both time and money.By simply going into your local bank, you are limited to the types of loans they are comfortable doing. You are also going to get the interest rate that they want to give you. Often times, they will end up turning down your loan request after weeks or even months pass by.A Commercial loan broker has experience and will be able to quickly place your loan request in the right hands. The benfits of using a broker are:1.Save time by getting your loan request with the lenders that will do your type of loan rather than finding out later that your loan request doesn’t fit with what the lender is comfortable with2.Save money by having multiple lenders competing to get your business.3.Reduce headaches by having a commercial loan broker who is working for you. It is in their interest to get the loan done in a timely manner because they don’t get paid unless the loan gets done.Some might say that you are going to pay more to use a commercial loan broker rather than going directly to your bank. This isn’t the case. I have actually seen where a broker gets a quote that is lower than what the bank is offering. The lenders do pay the brokers but the overhead in dealing with a broker is far less than that of an employee they are paying to generate and process the same loan.