Login
ISCOVER
Brokers looking for new business opportunities could benefit from partnering with a reputable debtor and trade finance provider, according to equipment finance specialist Greg Malone of G&H Financial.
G&H Financial is a finance solutions specialist with a strong national presence. Its range of offerings cover equipment, machinery and asset finance for mainly corporate and SME customers.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
The boutique advisory business specialises in equipment finance for SMEs to help them buy equipment for production. They also work closely with clients that may have growth difficulty that causes issues within their business (such as a tax adjustment, or cash flow restrictions).
“We go in and help raise capital so that our clients can start new projects, keep existing projects going, or have the resources to grow by acquiring other businesses,” according to Mr Malone.
“We work with a wide range of industries, but specialise in waste management, manufacturing, transport, agriculture, food and tertiary suppliers of all these goods, for the acquisition side of the business.”
Brokers should understand that there are not many businesses that wouldn’t benefit from debtor finance, according to Mr Malone.
“Once clients understand how it operates, it’s easy for them to use debtor finance effectively.”
The equipment finance specialist said he often refers clients to FactorONE or Scottish Pacific.
“FactorONE (and Scottish Pacific) works with brokers and clients to build a better relationship connecting all three parties – much better than a bank which can be happy to polarise brokers from their clients,” he said.
“When brokers provide clients with an intro to a bank, the bank generally assumes ownership of the client.
“With factoring, the facility actually brings the broker closer to the lender and the client. A good debtor finance company will help teach you how it works, providing an excellent point of difference for you to build into your own brokerage – it really shows clients you have great industry contacts who can help them.”
Mr Malone said a good knowledge base and asking clients the right questions about their business, together form the key to identifying prospective debtor finance applicants.
“Keep an eye out for clients with unusual levels of growth, in particular rapid growth.
“Also, new businesses that may face seasonal challenges because they do not yet know how to budget for seasonal changes.
“Seasonal issues can easily be overcome using selective invoice finance (SIF) – this product has quite strong potential to fix short-term issues without your client having to commit their entire ledger.”
