has announced a partnership with trail book buyer BBBSA Finance to bring members a specialist loan facility aimed at unlocking working capital.
The facility, called Connective Broker Funding, was unveiled to 1,700 brokers around the country at a series of professional development days.
The facility allows brokers to unlock the value of their trail book, using the broker’s business and the trail book itself as security. This eliminates the need for personal guarantees or other assets such as property as collateral.
The loan can be used for a range of business growth purposes, including working capital, expansion capital, distress capital or capital return.
Connective Broker Funding is a natural extension of the aggregator’s broker support services, director Mark Haron said yesterday (23 March) at the final event in Sydney.
“Our aim has always been to help our members establish a business that becomes a valuable asset. Our flat fee model means that our members own 100% of their business and trail book, so Connective Broker Funding provides them the opportunity to re-invest that asset into their business growth efforts.”
He pointed out that most Connective members are business owners looking for success in a competitive, fast-paced industry.
“To achieve this, brokerages often require capital but securing a business loan can sometimes be a challenge. Connective Broker Funding gives our members another option to secure funds for their business, so they can keep doing what they do best – looking after the needs of their clients.”
Partnership to fast track client data compilation for brokers
Improved SMSF product opens market to brokers
Financial planning experts to aid under-resourced brokers