Written by John Maxwell, published on blog.thorn.money on Nov 4, 2021 1:09:00 PM

Whilst using your home as security can be the cheapest way to secure business finance, many savvy businesses are discovering they don’t need to use their home as security to fund their business growth. Business funding solutions have evolved to make business growth easier for SMEs and company owners.

Traditionally, if a business wanted to access business cashflow to fund business expansion plans or to prepare for the end of year rush, the business owners would put up their home as security to provide the bank with comfort and confidence the loan would be repaid. The lender would open an additional portion of the loan alongside the home loan which is for the purpose of business use.

However, as business systems have become more sophisticated so to have the funding options to provide businesses with quick access to cashflow without the need to add additional risk to your home. Just the same, asset finance brokers have also adopted cutting-edge business finance solutions designed to make business life easier and business growth faster.

Many company owners, some may call them traditionalists, would rather not use their home as security for the purpose of accessing a business loan to grow their company. Especially those companies that can demonstrate a sound and secure business model which is highly profitable.

One of the things which keeps business owners awake at night is the risk and discomfort of using their home as ongoing security in times of business growth and the need for business funding solutions. The other thing that keeps them up at night is the lack of understanding of the available business funding options.

SMEs can access cashflow by utilising an often-un-utilised asset – their unpaid invoices. As businesses are emerging from lockdown, the end of year rush this year is compounded like never before. SMEs will require funding solutions to meet demand and ensure they’re ready with sufficient supplies, staffing, and equipment to continue running their business.

These types of business owners are looking for an equally sophisticated finance broker. A broker who understands them. An asset finance broker who understands their needs, their concerns, and their desire to empower their business to be self-sufficient. These SMEs understand the coined phrase ‘the costs of doing business’ just as much as they understand the risks of starting and running a business.

Modern funding solutions are designed for modern business owners in a modern world. They empower and enable companies to grow in times of need and access the cashflow they need when they need.

Opportunities for brokers

If you’re a finance broker who works with SME business owners and wants access to innovative business cashflow finance solutions, speak to a thornmoney BDM about options to help you create a complete financial strategy above and beyond just providing their primary home loan, business loan, or commercial loan.

Our BDMs are available to guide you through client scenarios and educate you on the latest cashflow solutions to meet your clients' needs. We understand what it takes to present comprehensive finance solutions as a mortgage broker. We also understand the importance as a mortgage broker to fully understand the products so you can confidently present them to your clients.

Thornmoney solution

Thornmoney provides simplified business cashflow solutions to help with the pains of business expansion. If you’re an asset finance broker who deals with small businesses, connect with our BDMs to learn more about how our innovative cashflow funding options can help you to create a complete financial strategy for your SME clients above and beyond just providing their primary home loan, business loan, or commercial loan.

Disclaimer: This information is for general information purposes only. The information contained herein does not constitute financial or professional advice or a recommendation. It has not been prepared with reference to your financial circumstances or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice as to whether or not this information is appropriate for you.