Financing brokers in the small business financing industry are a critical group that helps bring small business bank account analysis and financing to small businesses that otherwise would not have alternative financing solutions. After our first three months building our broker network, we at Aquila have discovered three key reasons why our best performing broker partners love our network. We describe them below.
Small business brokers in the daily funding and merchant lending are SMB marketing experts. They fund their marketing activity through a multitude of channels. The funding for their marketing activities is drawn from the commissions received from successful small business financing. These commissions, paid to brokers, need to be high enough to sufficiently fund the sourcing of thousands of merchant applicants in a very competitive industry. For example, running a Google Adwords, advertising campaign for small business loans costs anywhere from $150 to $200 per registered lead. A lead is simply a completed form consisting of basic contact information such as email address, phone, and company name. It’s up to the independent broker to then contact the business owner and determine whether there’s still a need for business financing. Given low funding rates for high-risk, small businesses, brokers can expect to pay anywhere from $1,000 to $2,000 in marketing costs per funded merchant.
Aquila understands the broker model well as our team was founded by former brokers who have spent hundreds of thousands of dollars in marketing channel activities. As such, Aquila compensates its broker partners with substantial commissions. Aquila pays up to 15 points, per successful deal, to its small business brokers that bring small businesses to its platform. This is more than 6 points higher than the industry average of 9 points. Aquila aims to ensure that brokers are able to continue to fund their successful marketing operations with sufficient revenues.
Small Business Bank Account Analytics
As mentioned before, the cost per business lead for a small business funding broker can range between $150 to $200 per lead via a Google Adword campaign. When Aquila analyzes a merchant’s small business bank account, the business’ credit is ranked via an artificial intelligence and deep learning system that improves over time. If the credit rank is too low for financing, Aquila informs its broker partners and continues to monitor the merchant’s bank account. Brokers are freely able to submit their merchant leads elsewhere. However, if the small business bank account improves in a few weeks or months, the broker will capture the commission, should a financing event occur. As such Aquila bank account analytics is a permanent search engine for broker commissions and a trusted partner for small businesses seeking to improve their bank account performance.
Underwriting & Analytics Speed
The competition for small business financing creates pressure in the race for speedy financing decisions. Aquila’s team are made up of former, independent brokers who are very sensitive to the issue of time in the business of small business finance. We understand that brokers need to quickly recover their marketing costs to feed growth and business survival. As such, Aquila platform of bank account analytics was built with speed. Our platform is able to calculate bank account performance for daily funding products in minutes. As such, we are able to deliver quantitative underwriting analysis within minutes of a merchant bank account login.
As former small business financing brokers, we at Aquila understand it’s important to pay our broker partners well and to ensure they receive fast service for their merchant clients. In the competitive arena of small business finance, we are committed to giving our broker partners an unfair advantage that is unavailable anywhere else, online. If you are a small business broker or Independent Sales Organization (ISO) please give Aquila a spin and sign up to our ISO network here: https://aquilacashflow.com/isos/new and we’ll get you online in minutes so that we will be able to serve your clients and help your business grow.