Over 95% of these loans have been referred to us by our growing network of business introducers. These are made up of a variety of business professionals, such as commercial finance brokers, accountants and advisors.
Newable Business Development Manager Chris Oram manages the relationships with our introducer network and looks to ensure that an increasing number of firms refer their SME clients to us. I spoke to Chris about why finance brokers should work with us.
Chris, how easy is it for an introducer to begin working with us?
“It’s extremely straightforward for a broker to sign up as a Newable introducer. The process is completed online, and in most cases, we are ready to accept applications from a new introducer within 24 hours, especially if the broker is FCA registered”.
Once signed up, what can a new introducer expect?
“I’ll make contact with all newly signed up brokers to talk them through our loan product details and our application process. This is important as it enables brokers to understand the types of loan proposals we are best suited to help and to ensure that they are familiar with how to submit applications to us”.
How would a broker submit applications to us?
“All applications are made via Newable’s online Portal. This ensures that all supporting information is securely delivered to our Underwriting Team as soon as possible, so that a decision can be made and communicated quickly. Our Portal is extremely popular with our introducers as it allows them to monitor the progress of all of the applications they make in real time.”
What are the particular advantages of a Newable Business Finance loan?
“We lend for any legitimate business purpose to SMEs across the UK who have at least 2 years trading history and an annual turnover of at least £100,000. We’re happy to assist business owners who may not be homeowners and assist a great number of businesses who look to refinance expensive short term debt over a longer term. We can lend over terms of up to 5 years which many business funders do not do.”
Why else should commercial brokers work with us?
“We pay a 3% introducer fee on every successful Newable Business Finance loan introduction. These fees are remitted as soon as the client receives the loan. Additionally, our brokers have a dedicated point of contact should they wish to discuss any potential loan proposal with us.”
If you have any SME clients who may benefit from a Newable Business Finance loan, sign up to join our introducer network today.
If you have any questions, you can email us at BuildingConfidence@newable.co.uk.
By Carolene Thompson and Chris Oram