Asset finance broker for small businesses

Lenders usually pay commission when the finance settles. Some brokers also charge a disclosed fee to the client, so check what is allowed and how it must be explained.

Commission as a percentage of the amount financed, with repeat business when clients upgrade or add equipment. Referral arrangements with dealers, equipment suppliers and accountants can supply steady leads.

• Talking comfortably with business owners and tradies
• Understanding business financials and cash flow
• Following up and keeping organised
• Building referral relationships

• Whether the credit rules apply depends on the loan and its purpose, so confirm with ASIC or your licensee before you quote any client
• Professional indemnity insurance is usually needed, so check what your licensee covers
• Commission can be clawed back if a client cancels or defaults early, so read the lender terms
• Make sure any referral fees you pay or receive are disclosed properly, and take advice on this
• Check any GST implications on commissions and fees once your turnover grows

Estimates suggest startup costs typically around $2,500 to $10,000, depending on your licensee or aggregator fees, insurance, software and any marketing. Confirm what your licensee covers before you commit.

Monthly revenue is typically estimated at around $1,500 to $7,500, depending on how many deals settle, loan sizes and your commission terms. The low end assumes about 10 hours a week.

Whether the credit rules apply depends on the loan and its purpose, so confirm with ASIC or your licensee before quoting. Also check professional indemnity cover, commission clawback terms, referral fee disclosure and GST on commissions and fees.