Sell The Solution, Not The Loan Product
This is a short 2 minute training video on how to properly sell and explain a short term business loan. These loans are like Bridging Finance for Business. They are fast settling and are only ever for a short term. They are designed to be the immediate funding solution, and bridge the gap between today and an event in 1 or 2 or 3 months time…. Such as a refinance or sale of an asset. We can even fund up to a maximum of 6 months, and we prepay the interest so that the borrower doesn’t have to make interest payments during the term of the loan.
Short term business loans are around for a reason
Short term business loans are around for a reason. Just like you don’t need an ambulance every day, and hopefully never at all….. if the day ever comes where you do need one, it’s reassuring to know they are available and one will be there to rescue you in no time at all.
Short term business loans are the same. Some business clients may never need one, BUT if they ever do, its great to know that there is a finance product out there that can fund large sums of money by the following business day, and unlike the banks, the lender doesn’t mind that the loan is only for a couple of months either.
Plus borrowers don’t have to show financials or wait around for valuations to be done, AND if the borrower has a bad credit file, loan arrears or rates arrears, that’s all ok too!
So the trick here is to Sell the problem you solve… not the product. What we mean by this is… don’t get all tied up in knots over interest rates. Focus on the benefit that the fast settling short term business loan will bring.
These loans are only short term and interest is calculated monthly, NOT annually, so getting in a tizz about interest rates is like comparing apples and oranges, and is just confusing the borrower.
Unlike many of our competitors, we have a clearly publicised interest rate, and the costs and interest for the loan term are clearly set out on our approval letter. This way the borrower knows what the total cost of the loan solution will be, and then the client can do the good old Cost Benefit Analysis.
If the benefit of getting the funds quickly, outweighs the cost, then it’s a no brainer… go for it.
Whilst understanding the full cost of the loan is super important and something we are very passionate about, comparing short term business loans to home loans is just the craziest thing. It would be like comparing the cost of being rushed to hospital in an ambulance compared to being rushed to hospital on a bus.
So the clear message is…. If a small business person urgently needs access to funds of between $20k to $2m by tomorrow to either take advance of a super profitable opportunity OR save them from Armageddon, then there is only one solution…. A short term business loan.
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