The interest rate on the page isn't the only thing that decides whether you get a good deal. Three questions matter just as much.
Every broker will show you a number. Not every broker will tell you how many lenders they actually compared to get there, how they're paid for the recommendation, or what happens if your business changes after the loan settles. Ask these three questions before you sign anything.
1. How many lenders do you actually compare?
Ask your broker how many lenders they genuinely compare for your situation - not how many they're “accredited with.”
Some brokers work from a single lender, or a very short list, and simply package up whatever that lender offers. Others compare a genuinely wide panel and narrow it down to what actually fits your business. Both can call themselves a “broker,” but only one is actually shopping the market on your behalf.
A small panel isn't automatically bad, and a big panel isn't automatically good - what matters is whether the broker is comparing lenders against your situation, not just presenting the one deal they always recommend. This is the same “fit beats headline rate” idea we cover in How to Choose a Business Loan Lender →.
2. How are you paid?
Ask how your broker is paid - commission from the lender, a fee from you, or both - and get a straight answer.
Most brokers are paid a commission by the lender once your loan settles. That's standard, and it doesn't automatically mean the advice is biased. What matters is whether your broker is upfront about it, and whether they're willing to explain why they're recommending a particular lender - not just that they are.
If a broker is vague about how they're paid, or brushes the question off, that's worth noticing. A broker with nothing to hide will usually just tell you.
3. What happens if my situation changes after settlement?
Ask what support looks like after your loan settles - not just during the application.
Take a business that financed a delivery van through a broker who never followed up again. Eighteen months later, that business had grown, needed a second vehicle, and had no idea whether refinancing the first loan made sense alongside it. The broker who arranged the original loan had moved on to the next deal the day it settled.
Businesses change - you take on new contracts, your revenue shifts, you need to refinance or add equipment. A broker who's still available after settlement can help you work out what to do next. One who disappears the moment the deal is done leaves you to figure it out alone.
What to listen for
Ask the three questions, then listen for answers like these:
- Panel size: a broker who names specific lenders they compared for your situation, not a vague “we work with lots of banks”
- How they're paid: a broker who explains it plainly, without being asked twice
- After settlement: a broker who describes what ongoing support actually looks like, not just “call us anytime”
At loan-o, we compare across 40+ bank and non-bank lenders for your situation, we're upfront about how we're paid, and we stay available for as long as you hold your loan - for businesses across Brisbane, the Gold Coast, the Sunshine Coast and beyond.
Finance is subject to lender approval, lending criteria, terms, conditions, fees and charges. loan-o is a finance broker, not a lender. The information in this article is general and does not take into account your personal or business needs.
Last reviewed: 17 August 2026. This content provides general information only. It should not be treated as personal financial, tax, legal or credit advice.
Frequently asked questions.
Got a question about your own situation? Ask a specialist →
At minimum, ask how many lenders they actually compare on your behalf, how they're paid (commission or fees, and by whom), and what support you get if your circumstances change after your loan settles.
A broker with a small panel, or one that only deals with a single lender, can only show you what that lender offers - not what actually fits your business. A wider, genuinely compared panel means you're more likely to see the option that suits you, not just the option available.
Most brokers are paid a commission by the lender once your loan settles, though some also charge the borrower a fee. Either way, a broker who explains this clearly upfront is generally being straight with you about how the recommendation was reached.
It depends on the broker. Some brokers are available for as long as you hold the loan - to help if your business changes, you want to refinance, or you're ready for your next piece of finance. Others move on once the deal settles. It's worth asking before you sign, not after.
Not sure what to ask? Ask a loan-o specialist.
No obligation, no jargon - just a straight answer about what your business actually qualifies for.
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