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Products to satisfy these funding requests are available if you know where to look. Unfortunately, all of them often are not found in any one particular place.
Sources of funding for these products could require relationships with several companies in each of the following categories:
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Real estate investment firms
As an alternative to developing relationships with companies in each of these 10 categories, new companies are positioning themselves as aggregators of funding sources for unique financing situations. They function in a manner similar to correspondent lenders in the mortgage business. These companies establish relationships with lenders and provide a centralized application submission point. Aggregating companies can take care of processing, identifying funding sources and submission requirements. Brokers, meanwhile, can continue to focus on their main product mix.
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The important thing to remember is that your current database has a substantial number of clients who meet these requirements and are in dire need of these funds. Through creative financing, you can offer unique new products to these clients.
Expanding your business into these new product areas also will help you to continue building strong client relationships. You will attain a new level of professionalism, and your clients will perceive you as their preferred financing source far into the future, regardless of the state of the market.
Milton Franklin is a managing member of Nationwide Business Consultants, formerly Nationwide Equipment Leasing LLC. His company offers a full range of creative financial products and services to commercial clients.
A graduate of Wharton Business School, Franklin is a business-financing consultant with 24 years' experience in financial services. Reach him at (786) 506-3578 or email@example.com. Visit www.nwbconsultants.com to review current products and services or to download free e-books, special reports and information packages.
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