Business Finance Brokers in Australia 2023 – Business loan brokers connect borrowers to a network of lenders, giving them several options for financing with a single application. The goal of Business Loan Brokers is to provide borrowers with the best rates and terms, typically at no cost.
How Financing With a Business Loan Broker Works
Most loan brokers will use a soft credit check to gain initial qualification for businesses looking at multiple funding options. Once the borrower chooses the loan option that works best, a hard credit pull will accompany the final application process with the lender. For many types of lending, the application process is short, with funding in 24 hours or less.
Who Should Work With a Business Loan Broker
Business loan brokers are perfect for small businesses that don’t have the time to go from bank to bank seeking funding. Also, they can be another funding option for businesses that traditional lenders have turned down. The following businesses should consider using a loan broker on their next loan:
- Newer businesses: Brokers can provide many options to new businesses that aren’t available through traditional lenders.
- Borrowers with poor credit: Brokers have access to more lenders, which allows them to find lenders willing to provide loan offers to subprime borrowers.
- Borrowers that have been rejected for financing: If traditional lenders won’t work with a company, brokers can find online and nontraditional lenders to finance loan products.
- Businesses in high-risk industries: There are still industries, such as the cannabis industry, that some traditional lenders cannot or won’t fund. A loan broker can find specialized lenders to help borrowers in high-risk industries.
Disadvantages of Business Loan Brokers
The one issue that businesses may find when working with a loan broker is higher closing costs and fees attached to a loan. While many loan brokers don’t directly charge fees to the borrower, many of them charge fees to the lenders in their network. Those fees can be passed along to the borrower, which results in higher payments.
How We Evaluated Small Business Loan Brokers
Borrowers looking for a loan broker usually have a specific need that a traditional lender cannot fill. It may be because the business is in a high-risk industry or has been turned down by a traditional lender. It can also be that the borrower is savvy and wants multiple options for finding the best rates and terms.
We considered five factors when ranking the top loan brokers for 2023:
- Types of loans offered: Available loan options and funding specialization of each broker
- Minimum qualifications: Whether qualifications are listed and how restrictive they are
- Industries served: Whether brokers specialize in certain industries or serve a wide range of customers
- Online reputation: Online ratings for each company and red flags for borrowers
- Transparency of fees and terms: Brokers being honest about upfront costs and how they get paid
Top 10 Business Finance Brokers in Australia 2023
Here is our recommendation for the Top 10 Business Loan Brokers for 2023:
- How To Earn a Profit Using Cryptocurrency
- Top 10 Cryptocurrencies That Could Give a Big Breakout
- Is IQ Option a trustworthy broker Platform in Binary Forex, Stocks, ETFs & Options Trading?
- Olymp Trade: A Review | Best Trading Platform of 21st Century?
1. Broker.com.au
Broker.com.au allows users to search, compare and connect across hundreds of options Australia-wide. Our business finance marketplace provides a truly complete service. Users are able to work with our digital tools directly or alternatively engage with one of our expert brokers as required.
Broker.com.au offers access to several types of funding, including:
- Lines of credit
- Equipment financing
- Short-term loans
- Accounts receivable financing
- Loans through the paycheck protection program
- SBA loans
- Business credit cards
- Commercial mortgage loans
Their Mission is to be the trusted adviser to Australian business. Efficiently connecting businesses of all types with the finance and information they need to fund their opportunities, growth, and dreams.
2. Will Finance
Will Finance is a business finance broker and business loan expert, supporting Australian businesses pursuing excellence. Our goals and objectives are to help improve our clients’ financial position and performance. Your success is our success.
Will Finance offers access to several types of funding, including:
- Equipment Loans
- Vehicle Finance
- Business Lending
From vehicle loans to equipment loans and even business lending, our experienced team stops at nothing to provide you with unbeatable rates and service. The best part is they’re there for you every step of the way – from application through to settlement.
3. Commercial Brokers Australia
Commercial Brokers Australia are the experts at finding the best financing solutions for our clients and because we have a large client base, the aggregated finance that is sourced through us means that the banks actively compete to lend money at great rates to our clients.
Commercial Brokers Australia offers access to several types of funding, including:
- Commercial property
- Residential property
- Bridging finance
- Development Finance
- Business loans
- Equipment finance
- Vehicle finance
- Investment loans
They have been matching people with the right type of finance for more than 15 years.
We love a challenge and we’ve successfully arranged finance for some of our clients who have been turned down by the banks – that’s because we know how to put forward a compelling proposition to the banks so they will want your business.
4. ebroker
ebroker is an online business finance broker founded in 2015 by Simon Isaacs, an entrepreneur with over 20 years of experience in small business.
ebroker offers access to several types of funding, including:
- Small Business Loans
- Short Term Business Loans
- Bad Credit Business Loans
- Low Doc Business Loans
- Trade Finance
- Equipment Finance
- Find a Mortgage Broker
eBroker has pioneered a groundbreaking platform that is transforming the way businesses gain access to alternate business funding by using AI & Algorithm technology to match small business owners with the right non-bank business lender in real-time.
5. Prospa
ADVERTISEMENT CONTINUE READING BELOW
Australia’s #1 online lender to small businesses, Prospa has provided short-term business loans to thousands of Australian small businesses right across the country. They have maintained a 4.9/5 TrustScore by providing our clients with fast and friendly service which puts their business first.
Prospa offers access to several types of funding, including:
- Prospa Small Business Loans – Quick access to $5K – $150K
- Prospa Plus Business Loans – Larger loans of $150K – $500K
No more compromising or missed opportunities with Prospa by your side. With the hassle-free application, this time tomorrow you could have access to funds for growth and cash flow support. It’s just what we do.
6. Future Funding
Future Funding, helps businesses achieve business success today and in the future. They are a business that works directly with you. They understand both short- and long-term goals, but more importantly, They are about working together to help your business grow.
Future Funding offers access to several types of funding, including:
- Trade & Debtor Funding
- Trade Finance
- Debtor Finance/ Invoice Finance
- Term Loans & Equipment Finance
- Foreign Exchange
Future Funding will ensure that every client will have provided to them on behalf of the funder a dedicated FX account Manager to help assist and support every client with their day-to-day queries, Market updates, and risk management strategies.
7. Global Capital Commercial
Global Capital Commercial is Australia’s No 1 Business & Commercial Loan BrokerEstablished 2001. Global Capital is now Australia’s leading facilitator of business & commercial finance,
with industry-leading experience in commercial loans and property development finance.
Global Capital Commercial offers access to several types of funding, including:
- Commercial Property Loans
- SMSF Loans
- Bridging Finance
- Short Term Loans
- Development Finance
- No Pre-sales Private Construction Finance
- Mezzanine Finance & Preferred Equity
- Land Bank Finance
Global Capital Commercial is proud that thousands of clients around Australia trust us to deliver the best financial and funding solutions. Why not contact us today to find out how we can help make a difference to you or your clients.
8. Carbon Group
Carbon Group offers access to several types of funding, including:
- Business finance
- Business lending
- Asset finance
- Commercial property
- Personal finance
- Home loans
- Investment property finance
- Car finance
Carbon Group can assist with a range of finance needs, both business and personal. Whether you need business finance to improve your cash flow, are looking to buy new equipment and need asset finance, are investigating your options for vehicle financing, we can help.
9. Valiant
Valiant’s platform is set to introduce competitive tension into the nascent SME online lending market. Unlike other comparison websites… [Valiant] fills a gap in the complex business lending space. A simplified experience for advisers looking to branch out into providing business lending solutions to clients.
Valiant offers access to several types of funding, including:
- Business finance
- Business lending
- Asset finance
- Commercial property
- Personal finance
- Home loans
- Investment property finance
- Car finance
A tool to help people on both sides of that conversation understand this explosion in non-bank offerings [Valiant is] a platform that will help simplify and streamline this space to get better outcomes for Australia’s SMEs. The platform will save time… as well as minimize the risk and anxiety of loan rejection.
10. Mortgage Choice
Looking to grow your business? We can help you understand the finance options available and do all the legwork in sourcing the right business loan for your needs.
Mortgage Choice offers access to several types of funding, including:
- Business finance
- Business lending
- Asset finance
- Commercial property
- Personal finance
- Home loans
- Investment property finance
- Car finance
With so many finance providers offering different finance types, with varying structures and repayment options, it can be difficult to find the one that’s best for your business. It pays to seek independent advice before you make your choice, and this is where your Mortgage Choice broker can help.
Recommendation & Bottom Line
While all loan brokers on this list can help businesses secure multiple types of funding, we recommend Broker.com.au as the best overall loan broker for 2023. It has a large variety of lenders with rapid approvals and funding. Check out Broker.com.au website for more information or to begin the application process for a business loan.
Also Read,
- How To Earn a Profit Using Cryptocurrency
- Top 10 Cryptocurrencies That Could Give a Big Breakout
- Is IQ Option a trustworthy broker Platform in Binary Forex, Stocks, ETFs & Options Trading?
- Olymp Trade: A Review | Best Trading Platform of 21st Century?
Want us to make some changes to the List or Add your Restaurant Business? or write a Blog about your Business, Feel Free to Contact & Invite us (AFPR) at [email protected]
Best Business Finance Brokers
