Brokers overwhelmingly value the human side of underwriting, new research from Asset Advantage shows. When asked about their decision-making process in choosing a funder 96% of brokers surveyed said it was important to have a funder who was open-minded and looked outside the box. While 98% of brokers surveyed wanted a funder to look beyond the balance sheet and consider the full picture of a business.
One survey respondent said, “I do enjoy the human aspect of the relationship when discussing a transaction.”
The survey asked 52 members of the Asset Advantage broker panel about their decision-making process when looking for funding for their customer. The survey also identified the fact that:
• 91% of brokers surveyed rate ‘customer financials’ as the most important criteria in deciding which funder to approach first.
• 98% of brokers surveyed rate as important or very important if a funder will look beyond the balance sheet, and consider the full picture of a business.
• 96% of brokers surveyed said it was important to have a funder who was open-minded and looked outside the box when considering a deal.
• 91% appreciated a funder who would consider any asset and any industry type.
Katie Dowse, Business Development Manager said, “It is good to see that brokers are putting the credit decision as top priority, at the end of the day being able to support a customer with a bespoke acceptance is paramount.”
Philip Knight, Head of Credit and Risk said, “Meeting customers and discussing proposals with introducers is as relevant now as it was when we first started lending more than 15 years ago.”
Asset Advantage is an independent, privately owned, asset finance business. It specialises in providing finance for a wide range of equipment for small and medium sized businesses throughout the UK. Independent research conducted by Asset Advantage among a representative sample of 52 members of their broker panel between 6th and 30th June 2023.
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