Business loan broker - recommendations?
Business loan broker - recommendations?
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Landlord

Original Poster:

12,689 posts

288 months

Tuesday 10th February 2009
quotequote all
Hi,

Does anyone have any names/personal recommendations for business loan brokers? Specifically with respect to refinancing an overdraft (as I understand that there's issues with one bank servicing another banks debt). Basically, I'd like to look at my options.

Cheers!
Phil.

m4tt

591 posts

229 months

Tuesday 10th February 2009
quotequote all
Have you tried talking to your bank or any of the other banks direct? Quickest easist and cheapest way to do it. A broker will want a cut so will cost YOU more.

Landlord

Original Poster:

12,689 posts

288 months

Wednesday 11th February 2009
quotequote all
m4tt said:
Have you tried talking to your bank or any of the other banks direct? Quickest easist and cheapest way to do it. A broker will want a cut so will cost YOU more.
Cheers for the reply. Yeah - I'm taking a look at the banks as we speak but there are very few that will offer money to service another banks debt - despite the amount of security on offer (i.e. lots). This means we're kind of limited to our business bank's loan options (as it's their debt in the first place, IYSWIM).

I wondered whether there were other smaller/specialist lenders out there (that don't require physically-assault as security!) that lend specifically for the refinancing of debt.

m4tt

591 posts

229 months

Tuesday 17th February 2009
quotequote all
What is wrong with using your bank to re-finance their own debt?

Landlord

Original Poster:

12,689 posts

288 months

Wednesday 18th February 2009
quotequote all
m4tt said:
What is wrong with using your bank to re-finance their own debt?
Nothing! I just wanted more than one option.