At Fund&Grow, we’re in the business of helping our clients obtain the most money, with the least interest and, ideally, with no impact on their personal credit. As recent news indicates, we’ve been very successful in this endeavor. Most of our clients wind up getting $50,000 to $250,000 in zero-percent interest credit cards, with no fees.
Are you looking for a business loan and assessing possible options to raise capital? One alternative to using our services is to shop for a business loan yourself. If you are thinking of contacting multiple brokers to get the best terms and rates for your loan, there must be a number of questions running through your mind regarding the application process. For example, what kind of collateral will I need to offer in order to secure the loan? Or, is it necessary to pay any fees upfront? Or maybe even, am I eligible for a non-recourse loan – or a loan which does not involve pre-payment penalties?
Applying for a loan can be a confusing process, and naturally, you will want to obtain the best deal available. However, while looking for a suitable loan, it is often not a good idea to shop around your finance request to too many brokers, as this could actually increase the cost of your loan instead of lowering it.
Here are three reasons why your decision to go to a broker may come back to bite you.
Formation of the Dreaded Broker Chain. There are many small business loan brokers that have direct relationships with banks, lenders and other funding sources. It’s possible to work with a broker who is a part of a chain of brokers who will simply refer you to another broker – who, in turn, may forward your case to someone else. These types of brokers should be avoided. Working in broker chains can cause a disconnect in communication, and your personal and private information may be circulated through too many people who may not have your best interest in mind. Additionally, you may not get the results that you want (i.e., a small business loan approval). The best brokers will have a direct relationship with an actual funding source, not just a chain of other brokers.
Too Many Offers. Suppose your file reaches several direct lenders and four of them write letters of intent to you. In this case, you will be faced with another dilemma: which offer will you go with? There is a possibility that you are offered the rates you want, but not the loan-to-value ratio you desire, or vice versa. Or maybe you like the loan terms, but there is a retainer or engagement fee attached that you are unwilling to pay. Ultimately, you will have to choose one offer, but what if that particular broker turns out to be a smooth-talker who takes you for a ride? You would then find it very difficult to repair your relationship with the other brokers who worked hard for you.
Keeping an Eye on Broker’s Fees. Like all other loan originators, brokers charge fees for their services, and their fees may vary widely. Additionally, they may get compensated from the lenders they connect you with, or ask that you pay broker fees out of your own pocket. If they aren’t charging you anything directly, they’re getting paid by the lender, meaning you’ll wind up with a higher rate. Therefore, brokers can make money through various options such as from Loan Origination Fees, Processing Fees, Yield Spread Premium and other possible administration or junk fees. Be sure to explore all options to get the best combination of rate and fees.
However, looking for a loan that suits your requirements need not be this complicated. Often, all it takes is a simple phone call to us to find out whether Fund&Grow can help you meet your borrowing goals. Our proven strategies are guaranteed to work.
Some people assume that if we can do it, they should be able to do it themselves. That’s true in theory, but rarely so in practice. Fund&Grow has developed relationships with the lenders and underwriters. Our consultants develop an individualized strategy to put you in the most lendable position possible – by both maximizing your personal credit profile and maximizing your business credit access.
We take the time to thoroughly follow up, and in a timely manner – which is a critical part of the process. We contact the lenders a minimum of once or twice a week on your behalf. Some negotiations take as many as seven to eight calls per lender to get an approval or an increase. We know how to interact with the CSRs, we know how to navigate the system, we deal with the outsourced call centers, and we handle everything so you don’t have to take time away from running your business.
We have been leading the industry for the past eight years and our know-how is what gets results for our clients. Conversely, we’ve heard many stories about people trying to replicate the process where the only significant result was to damage their own personal credit – because they lacked understanding of all the pieces of the puzzle. When you are in our hands, this will never happen to you.
We work with some of the biggest credit lenders in the nation to facilitate the use of the latest low-interest money lending programs. We are well-equipped to make your loan applications in a strategic manner, thereby eliminating the need of a broker who would be more interested in maximizing his or her own commission. Our veteran finance industry experts work hard to provide clients with the best deals at minimum cost, with the least amount of effort from each individual’s end. As always, we remain committed to doing our best to enable you to achieve your financial dreams. We invite you to contact us to learn more about how Fund&Grow’ services can help you get the funding you need.
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For over 15 years, Fund&Grow has helped 30,000+ business owners get access to over 1.6 Billion dollars of business funding. We're on a mission to empower the small business owner by helping them tap into the smartest form of funding: Unsecured Business Credit – so that they can achieve their goals and dreams.
"Fund&Grow was created to empower small business owners, but more importantly, to support entreprenuers in achieving their business and personal goals while they lead the way towards innovation." - Ari Page CEO of Fund&Grow
Ari Page and the Fund&Grow team help business owners obtain access to credit despite the ambiguous lending climate. Many people feel ripped off and scammed by the bank bailouts and wonder why they can't use the system to their advantage the way the big banks did. If you have good credit, the Fund&Grow program will get you the funds you need to grow your business.
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All credit is subject to lender approval based upon credit criteria. Up to $250,000 in business credit is for highly qualified clients over the term of the membership with multiple credit card batches and/or credit lines. Introductory rates of 0% apply to purchases and/or balance transfers after which it reverts to an interest rate, which varies by lender as disclosed in the lending agreement. Fund&Grow is not a lender.
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