Finance broker vs going to the bank
When your business needs finance you can walk into your own bank, or use a finance broker who takes one application across many lenders. Here is how the two compare, and when each one makes sense.
| Through a Ventas broker | Going direct to one bank | |
|---|---|---|
| Lenders considered | More than 40 banks and specialist lenders | Only that one bank |
| Whose side they are on | Yours | The bank's |
| Approval speed | Often 24 to 48 hours | Days to weeks |
| Low-doc and no-doc options | Yes, across the panel | Limited |
| ATO debt or a thin file | Often placeable with the right lender | Usually declined |
| New businesses | Welcome | Often knocked back |
| Upfront cost to you | None, the lender pays at settlement | Varies |
| Rate | Benchmarked across the whole market | Take it or leave it |
When a broker wins (most of the time)
You want the sharpest rate and structure, you have been knocked back before, you need to move fast, your situation is not vanilla (ATO debt, a thin file, a new business), or you simply do not have time to chase lenders yourself. One application puts the whole panel to work, with no upfront cost. See business loans or how to get approved.
When going direct might suit
If you have a strong existing relationship with your bank, a very standard deal, and the bank has already offered terms you are happy with, going direct can be simple. Even then, it costs nothing to let a broker benchmark that offer against the market first.
Does a finance broker cost more than the bank?
No. We are paid by the lender at settlement, not by you, so there are no upfront broker fees. Because the rate is benchmarked across the market, a broker often beats a single bank's offer.
Will using a broker hurt my credit with multiple applications?
No. We do not blast your file across every lender. We match you to the right lender first, so it is one targeted application, not many.
Can a broker get finance the bank declined?
Often yes. With more than 40 lenders, including specialists, we know who says yes to ATO debt, thin files, past credit issues and new businesses, where one bank says no.
Is a broker worth it for a small deal?
Yes. There is no minimum and no upfront fee, so the time you save and a sharper rate usually outweigh doing it yourself. This is general information only, not a quote.
Want the whole market working for you instead of one bank? Call 0412 833 197 or request a quote and we will benchmark your options across 40+ lenders.