Sorbus Finance vs a Bank: What Is the Difference?

A bank may offer finance directly to its customers and assess an application against its own products, criteria and appetite. An existing relationship can be useful: the bank may already understand the business’s accounts and day-to-day banking. A business can also speak to its bank about the products it offers.

A broker does not lend its own money. It may help a business explore funding routes and introduce it to providers with whom it has an arrangement. Sorbus Finance works with a panel of 150+ lenders, but this is not the whole market and does not mean every lender or product is available.

A business may start with its bank when the requirement fits a product it provides or when it values an existing banking relationship. A broker may be worth considering when a business wants to explore more than one provider route, needs help presenting a specialist asset or has a more involved requirement.

These routes are not mutually exclusive. A business should compare the actual terms, costs, eligibility and service of any options available to it.

Whether a business approaches a bank directly or through a broker, the lender makes the lending decision and sets its terms. Neither route guarantees approval or a particular timescale. A broker may receive commission, and a customer fee may apply; understand and compare the total cost before committing.