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Finding a business loan that best suits your company needs can quickly feel overwhelming, especially when it comes to juggling affordability and eligibility. With this in mind, Think Business Loans outlines how SME’s can find a flexible business loan, that doesn’t compromise on cost.

4ED4A980-1367-4548-9284-3CBE142D6E3E Created with sketchtool. Comparison Sites

These days, the first-place people go to for cheap financial products is a comparison website. For some, these are a great place to find commercial lending products as they allow you to make better-informed decisions, while keeping the price as low as possible.

However, while comparison sites will often show products across the whole market, they will not check your eligibility for a business loan. As a result, you may end up applying for the first cheap product you find and be declined. What’s more, the more you are declined, the less likely you are to be approved and will further damage your credit score.

4ED4A980-1367-4548-9284-3CBE142D6E3E Created with sketchtool. Independent Research

If your worried about applying for a business loan without knowing your eligibility, you can always conduct your own personal research into the product. This can be achieved by visiting the lenders website and checking your eligibility through their terms and conditions.

By combing through the fine print, you’ll be able to see which sme business loan best suits your company. However, this can be incredibly time consuming, especially for a busy entrepreneur.

4ED4A980-1367-4548-9284-3CBE142D6E3E Created with sketchtool. Commercial finance broker

For a quick and easy way to obtain commercial funding, consulting with a commercial finance broker is the best way to see which business loans you may be eligible to apply for.

At Think Business Loans, we compare hundreds of lenders and match your business using our innovative iFunds® technology. iFunds is not a comparison site, not does it show you every single lender on the market. Think Business Loans uses technology to connect SME’s to the right lender based on their individual criteria.

As a commercial finance broker, we understand that business owners don’t have the time to scour the web for business loans. That’s why we aim to secure you the best financial product in 24 hours, so you can get the funding you need.

If you would like more information on which business loan is right for your company, get in touch with our commercial lending managers today.

Jessica Court

Jessica Court

Jessica Court graduated from the University of Portsmouth in 2017 with a bachelor’s degree in Media Studies. She has previously worked within the In... Explore Author