0800 151 0980

Check Eligibility

Direct lenders vs brokers for small business loans

Looking to grow your business? Or just need a little extra working capital to keep your business moving? 

Our small business loans are available between £5,000 – £500,000 for almost any purpose.

We’re not a bank. Our lending criteria is different, and we look at more than just your credit profile.

Check your eligibility online in just two minutes, with no impact on your credit score, and you could receive your funds in as little as 24 hours.

How does the business loan work?

Unlike a traditional loan, Capify’s is paid back in very small amounts regularly. The repayments are completely automated so you don’t need to do anything. Many business owners love our regular payments, because they don’t have to save a large amount by a fixed date each month.

To be eligible for a business loan, you'll need to:

  • Turnover >£10,000 per month
  • Have at least 12 months’ trading records

The benefits of a Capify business loan

  • Raise from £5,000 - £500,000
  • Pay back little and often
  • No monthly lump sum
  • Opportunity to raise more funds

Going direct for a business loan or using a broker

When small business owners are looking for access to finance, they’re usually in search of the simplest, most reliable way to pay for what they need. Most small business owners don’t have time for paperwork and lots of phone calls, they want to feel safe and secure when they look for a small business loan.

But is going directly to a small business loan lender, or speaking to a broker, the best route? It can vary, depending on your needs, business type, and what kind of finance you’re looking for.

Table of Contents

Direct lenders of business finance and loans

The most traditional type of direct lender is a bank, which will offer loans as well as credit cards, accounts, and some other financial products.

There are also many companies that specialise in business loans, as well as alternative online lenders. They focus exclusively on business loans, giving small businesses the opportunity to raise finance with them quickly and easily. There’s no ‘middle man’, the business sources its own finance.

There are lots of small business loan lenders to choose from. Some businesses decide to go direct because it’s faster and they know what they want.

Brokers of business finance and loans

Brokers have their eye on different sources of finance and different lenders. They can compare them, present you with the best options for your business, and then deal with the application.

If sourcing finance could be more difficult for your business because you have specific needs, a broker can do most of the leg work. Sometimes it’s a good idea to consult the experts, but remember – it will cost you extra!

 

The benefits of going direct to a lender

Save time and get your cash quickly

Looking for a broker takes time, making it a lengthier process than going direct. A lot of small business loans can be processed in just a few days!

It’s cheaper (no fees!)

Brokers charge a fee, which obviously makes looking for finance more costly. Not ideal for small business owners on a budget!

You can do the organising yourself

Many lenders already have a simple application process, so you’re less likely to need a broker’s help. If you already know what you need, you can apply directly.

Business finance has changed

Small businesses aren’t restricted to booking an appointment with a bank manager anymore. They can go straight to online lenders for brilliant rates. It’s fast, easy, and reliable.

The benefits of going through a broker

Expert advice for more complex situations

If you’re unsure what options are available, or your business has some specific needs, a broker can help you cut through the noise.

They’ll do the legwork for you

A lot of loan applications are pretty simple, but if you’re short on time it’s nice to know someone else can take care of it for you.

They can assess all your options

Business owners are always looking for the best deal. A broker could help you find the best rates and business finance products.

Lenders vs. brokers. Which is right for you?

The small business loans market is constantly improving. It’s become easier and easier for small businesses to navigate, apply, and get the cash they need.

Some small businesses will need help, and that’s where brokers come in. Most of the time though, small businesses can complete the application themselves and find really competitive, flexible finance products.

Why Capify?

Capify provides simple, quick, and responsible access to finance for small businesses. We focus on speed, flexibility, and excellent customer service.

Get a quote now, and you’ll be guided through the process by your own dedicated account manager. They’ll be answer your questions and take care of your application from first contact to receiving your cash (often, it only takes a few days!)

Table of Contents