Meet Russell Caulfield, commercial finance broker from Kennet Equipment Leasing, a 120-person company based in Coleshill, just east of Birmingham. They provide fast, convenient financing on business equipment for amounts over £1,000, with over £500 million worth of equipment leased over almost 30 years of operation. Russell arranges that financing by connecting customers looking for a business loan with a loan company that’s the best fit for their needs.
Russell has been with Kennet for nearly five years but has been in the industry much longer. He’s worked with Boost in previous roles and has come back to us repeatedly over the years for business loans for his customers.
Here’s Russell on the benefits of working with Boost Capital:
Why do you choose Boost when you refer leads?
The service is particularly good. I’ve known Boost Capital for a long time, and have always found them to be very professional.
What has your experience been like?
It has always been dependable. When their staff says they are going to do something, I know they’ll do it. Their quite upfront in terms of what they can do and what they can’t. I don’t have to chase them for things. If I ask them to get me a quote for a customer, they’ll do it right away, whereas, with other funders, I don’t get that same snappy service. Alex is great too – for the MD of a multi-million-pound company, he’s very down-to-earth and amiable.
How do we measure up to other lenders you work with?
I work with about 10 or 15 funders regularly and have found that Boost’s product is quite good for the market. They will sometimes accept where other funders have declined. Not all the time, mind you, but often enough to know that it’s always worth a try. Boost is particularly good with retail borrowers, and while they don’t much like car sales (which is pretty standard in the industry), they’ll take an MOT or a garage station, businesses like that.
What advice do you have to other brokers working in your field? What’s been your recipe for success?
Not giving quotes away before you’ve secured information from the customer. That’s been key. If you just give away numbers, you find you’re just a “quoting monkey,” really. We only ever do bespoke quoting for individual customers. If you get pushed into giving out numbers ad hoc, they might be wrong, and we’d much rather give accurate information.
Are you seeing any notable trends in the small business market?
Brexit is still very much slowing people down – they’re being very cautious. But not everyone is put off by it, so we just have to manage each situation as it comes along.
What are your thoughts on the future of unsecured lending?
I think unsecured lending is on the up – it has a real future in the UK market, no question. From my experience over the years, it has just gotten busier and busier. The demand is there, and business loans are definitely a thing for the future. They offer quite a lot of versatility for the customer.
Want to earn decent commissions?
Send us your deals through the Boost Capital broker programme, and you’ll earn more, faster! Get in touch today.