A recommendation is prized by any business and now our reward scheme for quality referrals has just got a whole lot better.
Our deal completion fee has been increased to an eye-catching £2,500 and we continue to pay £250 upfront just for an introduction to a suitable potential client, whether or not they sign on the dotted line.
One person who will be looking to take advantage of our promotion is introducer, client and friend of Pension-led funding Mark Redman, who is referring one to two clients per month.
Asset finance broker and business to business lender Mark introduced several clients to pensionledfunding.com in December 2015, making the most of our pre-Christmas offer of £350 per Prime Opportunity referral.
And recommendations don’t come much stronger than from someone who has used the product themselves.
“I went through the process and therefore am happy to introduce clients,” said Mark, a director of XL Business Finance Ltd.
He has been introducing clients to Pension-led funding for more than three years, earning our standard introducer fee of £250 for every referral.
Mark said he looks for customers who fit the bill for PLF, these can be new or existing clients who have a pension with a value greater than £100,000 and a business that has been trading for three years or more and has a turnover greater than £300,000 per annum.
“I send qualified referrals to Pension-led funding and get paid up front for any marketing I have put in place to find business,” he said.
“It’s nice and simple. I pass a lead over, log on to the Introducer portal to see exactly what stage in the process it is. You do not have to chase feedback all the time, you can monitor the leads online,” he said.
“The appeal is the combination of the fact that you get paid up front and get remunerated at the back end if Pension-led funding completes a deal.
“It’s what I would call a soft touch facility. It’s a no brainer from that perspective.”
Mark has been a broker since 2000 and became a lender in 2010 after working for Barclays Bank and Lombard.
He began his relationship with us at a time when securing business funding was difficult and Pension-led funding was one of the forms of alternative funding available instead of traditional bank funding and asset finance leasing.
Mark liked what he saw as he helped to highlight an alternative funding option to businesses who were struggling to get the finance they needed through the normal channels.
“Having looked at the product myself I realised it was something I could use in my own business. I have gone through the process to invest my pension in my own business,” Mark said.
“Once you are over the initial set up costs, any payments are therefore going back into your own pension and perhaps creating a better return on your own pension.
“The advantage is that I get a better return on my pension and can invest some of that money in my business.”
Mark’s business was already up and running but said leasing was “very cash hungry – even with external funding arrangements you still have to fund 20 per cent of every deal yourself”.
“The Pension-led funding gave my business an adrenaline shot,” said Mark.
“We are still growing our leasing book, which is now twice the size now after the initial shot in the arm from Pension-led funding.”