The easiest way to add a new revenue stream to your business
Revenue streams. If you’re lucky enough to have multiple, you’ll already be familiar with the term. For those who are aren’t, adding an extra revenue stream to your business means adding another way you create profit.
Sounds simple right? Well, not normally. The costs of adding revenue streams are often a huge barrier for businesses. The need for capital to create new product, hire more staff and the time it takes to research and establish new market positions is often not worth the effort.
But there’s a new revenue model taking small to medium businesses by storm. Business 2 Business loan brokering has cropped up across the globe, with some of the major players killing it on the stock exchange.
How does it work?
If you operate in a B2B market you can partner up with a reputable company like smartbizloans.com.au. With access to their systems you connect your business with small, unsecured loans from $10,000 - $250,000.
As a broker what do you offer?
The beauty of being a B2B small loan broker is you can help other entrepreneurs like yourself get the financing they need to be successful. Maybe you broker as a completely stand alone revenue model, or perhaps you integrate it into client financing for your product or services.
You can offer your clients:
- Loan Size: $10,000 - $250,000
- Term: 6-24 months (6, 9, 12, 18 & 24)
- Payment Automated: weekly direct debit, daily optional
- Security: No charge over business assets
The real appeal for you as a business comes in the easy application process for your clients. The model’s carefully constructed eligibility criteria mean it’s flexible enough to be accessible to a wide range of clients with varying credit ratings, while also strict enough to ensure your clients can only access what they can afford.
To be eligible your clients need to:
- Minimum 1 year in business
- $100k in annual revenue
- Minimum 3 monthly deposits
- Bank statements in the name of the borrower
- No prior or current bankruptcy
- Executed privacy consents current bankruptcy
- Executed privacy consents
While naturally not all businesses and business owners will suit this particular revenue model, the industry leading technology now available through reputable lenders has been specifically designed for ease of use. Specialist software enables fast credit and history checks eliminating the need for excessive paperwork, so much of the administration that would normally be a barrier to entry has been removed.
If you’re interested in exploring whether your business is suitable for the broker program talk to the experts at smartbizloans.com.au
Disclaimer: Information is of a general nature. Please consult your Account or Financial advisor for advice.