Your self-employed clients need more than a home loan

The work is already in your database

Paul made this video for brokers worried about where the next deal is coming from. His answer is not a new lead source. It is the clients you already have, and in particular the self-employed ones. You know their properties, you know their families, and in most cases you have only ever talked to them about the home loan.

A business owner's borrowing does not stop there. When the ATO calls, a supplier wants paying or a competitor comes up for sale, they need money quickly, and the bank is usually the last place that can provide it in time. If you can, you become their broker for everything.

Four urgent needs to ask about

A four-step plan from the video

1. Go through your client database

   Filter for self-employed clients, company directors and anyone whose income comes from their own business. Most broker books have more of them than expected.

2. Email them about something new

   Short and specific: you can now help their business, not just their home loan. Funds in as little as 24 hours from a clean, complete scenario, up to 6 months no repayments, no financials.

3. Follow up by phone

   Ask one question: is anything happening in the business right now that needs money quickly? Creditors, the ATO, a chance to expand or buy out a competitor.

4. Send us the Simple Seven

   If the answer is yes, call it in. A Lending Manager comes back with an indicative answer, usually within 30 minutes in business hours.

Who to call first

You do not need to call everyone. Start with the clients most likely to have an urgent business need and the equity to fund it.

• Directors with a home loan you wrote in the last five years. They have equity, and you already know the property.
• Tradies and builders. Late progress payments, materials up front and ATO debts are common, and so is a bank that wants two years of clean returns.
• Hospitality and retail owners. Seasonal stock, wages through a quiet month and a lease or fit-out that will not wait.
• Clients you declined or could not place. If the bank said no because of the business's paperwork, the answer here may be different.
• Clients who mentioned the ATO. A payment plan that has defaulted or a director penalty notice is urgent by definition.

What you can offer them

• $20k to $5MFirst and second mortgage business loans
• 24 hoursFunds in your account in as little as 24 hours, from a clean, complete scenario
• 6 monthsUp to 6 months no repayments
• No financialsNo tax returns, no valuation

Australia's fastest and most flexible business loans, from a lender that has funded its own loans since 2004. The client can repay early with no penalty, extend with no fee and keep the loan as long as they need it. You are paid the same day it settles, with no invoice and no clawback.

What to say

Suggested wording only. Make sure anything you send meets your own licence and marketing obligations.

Why it works for the client and for you

The client gets an answer from someone they already trust, without filling in a bank's application or producing financials they do not have. You get a second line of income from the same book, and a reason to talk to clients between home-loan reviews. When the business loan is repaid by a refinance, that is often your deal too.

If the self-employed client was declined by a bank or offered too little by a cash flow lender, that is not the end of it. Broker A or Broker B shows how the same call goes two different ways, and declined cash flow loans covers the most common version.

The full transcript is on the video library page.

Reviewed by Jason Brockmuller, Joint Chief Executive