Learn how business finance brokers operate, including lender panels, fees and commissions. Business Loan Finance Online provides general information and resources for Australian business owners, not broker matching or referrals.
What does a business finance broker do?
A business finance broker acts as an intermediary between a business seeking finance and lenders. Depending on their services, a broker may explain loan options, compare products available through their lender panel and help prepare an application. The lender makes the lending decision; using a broker does not guarantee approval.
Lender panels and business loan comparison
A lender panel is the group of lenders a broker can access. Panels vary and may not cover the whole market. Ask which lenders and loan types a broker considers, and whether any relevant options fall outside their panel.
When comparing business loans, consider interest rates, fees, repayment frequency, loan term, security requirements and personal guarantees. Secured loans, unsecured business loans and business lines of credit have different features and risks. A low advertised rate alone does not establish the total cost or suitability of a loan.
Broker fees and commissions
Brokers may charge a fee to the business, receive commissions from a lender, or both. Arrangements vary. Ask for a written explanation of fees, when they are payable, any ongoing commissions and any financial relationships that could influence the options presented. These are general broker remuneration concepts, not a description of a referral service offered by this website.
Questions to ask a broker
What experience do you have with businesses in my industry and stage of development?
Which lenders and types of business finance do you consider?
What fees or commissions apply, and are any fees payable if an application does not proceed?
How do the available options differ in total cost, repayment commitments, security and guarantees?
What qualifications, authorisations or licensing apply to the services you provide, and how can I check them?
Broker and direct-lender pathways
Businesses may approach a lender directly or engage a broker independently. A direct lender generally explains its own products, while a broker may consider products from several lenders. Neither pathway guarantees access to every product or the lowest rate. Lender eligibility criteria and document requirements vary.
This website does not accept finance applications or borrowing enquiries, arrange credit, recommend a broker or lender, or provide personalised advice. The information is general and does not take account of your business's circumstances.
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