Broker A or Broker B?

The call, played two ways

A business owner rings. A shipment of stock has just come in, and he needs $300,000 in 24 hours to release it. Both brokers know him; both want to help. What separates them is what they have to offer.

Turning a "no" into a funded deal

The bank in this story did not decline anyone. It simply could not say yes in time, which for a client with a deadline is the same thing. Most of the deals a broker loses are lost like this: not on credit, but on timing, on a missing tax return, or on a lender that will not look past the last two years of trading.

A private lender that funds against property equity and a clear exit changes the answer in each of those cases. HomeSec does not need the client's financials, does not order a valuation and does not wait on an outside credit committee, because it lends its own money. That is what makes a funded deal out of a "not yet".

Why Broker B keeps the client

The client in the video says it himself: "That would be amazing." He will remember who found the answer the day the stock arrived. He will also need the refinance that repays the short-term loan, and the next loan after that, and he will tell the business owner next door. A private lender option is not a product you sell often. It is the one that decides whether you keep the clients you already have.

And because HomeSec loans have up to 6 months with no repayments, no early repayment penalty and no fee to extend, the refinance can take as long as it needs. If the bank takes three months instead of two, nothing breaks.

How to be Broker B tomorrow

1. Know the option exists

   Australia's fastest and most flexible business loans: first and second mortgages from $20k to $5M, secured by residential or commercial property, for a business purpose.

2. Ask the Simple Seven

   Value, address, debt and lender, amount, term, people on title, purpose. Watch it in 42 seconds.

3. Call it in, or lodge it

   A Lending Manager comes back with an indicative answer, usually within 30 minutes in business hours.

4. Line up the exit

   Start the bank refinance in parallel. When it is ready, it repays our loan, and you have placed both.

Five questions to ask before you say "two months"

Broker A's mistake was not the refinance. It was offering the refinance as the only answer before finding out what the client actually needed. These five questions take two minutes and tell you which broker to be.

1. When does the money have to be there?A date, and what happens if it is missed. "Tomorrow" and "this quarter" are different deals.
2. What is it for?Stock, a tax debt, a settlement, a supplier. The purpose has to be a business purpose.
3. What property is there, and what is owed on it?The equity is what we lend against, from $20k to $5M.
4. How will the loan be repaid?A refinance, a sale or a receivable, with a rough date. This is the exit.
5. Can the bank do it in time?If yes, send it to the bank. If no, call us and run the refinance in parallel.

When to stay Broker A

If there is no deadline and the bank can do the deal, the bank is usually the cheaper answer and the right one. A private loan earns its place when time, documents or a lender's appetite stand between the client and something they need now. If the client has no realistic way to repay, it is the wrong answer at any speed, and we will tell you so.

For your clients, the original watch page is at Broker A or Broker B in the HomeSec video library.

Reviewed by Jason Brockmuller, Joint Chief Executive