In the business lending world, purpose isn’t simply a buzzword, it’s the backbone of a strong business loan application. The best brokers know that when their client’s “why” is clearly defined, everything else stacks up.
At Banjo, we see it time and again: when a broker leads a conversation with purpose, the deal tends to flow faster, trust builds quicker, and approval is more likely.
At Banjo, we see it time and again: when a broker leads a conversation with purpose, the deal tends to flow faster, trust builds quicker, and approval is more likely.
Purpose isn’t fluff, it’s the framework
When presenting a deal, it’s not just about the numbers. The ‘why’, the ‘what it will be used for’, and ‘this is when the money needed by’ are often the clinchers.
Does your client want to purchase equipment to hit their next [specific] growth milestone? Or bridge a cashflow gap before their [specific] busy season? That context matters. It gives weight to the application and helps us see the full picture, the ambition behind the ask.
As Banjo’s Chief Risk Officer puts it:
“The funding purpose should stack up — not just commercially, but strategically. When the intent is clear, we understand how we will be repaid, and the timing makes sense, our credit team can back the deal with confidence.”
Does your client want to purchase equipment to hit their next [specific] growth milestone? Or bridge a cashflow gap before their [specific] busy season? That context matters. It gives weight to the application and helps us see the full picture, the ambition behind the ask.
As Banjo’s Chief Risk Officer puts it:
“The funding purpose should stack up — not just commercially, but strategically. When the intent is clear, we understand how we will be repaid, and the timing makes sense, our credit team can back the deal with confidence.”
What does a strong purpose summary look like?
It doesn’t have to be long. Just clear, specific, and grounded in reality.
Why the business needs the funds e.g. to purchase a new truck and trailer to meet growing delivery demand because of a new contract
What the funds will be used for e.g. vehicle purchase, registration, and fit-out
When the funds are needed
Any key commitments or context e.g. “new contract with national distributor starts in 3 weeks"
These details help our credit team make quick, confident decisions. When the purpose stacks up, everything else flows.
If you want to write an A-grade purpose, focus on:
1. Clarity – What’s the deal about?
2. Specifics – Details help us believe in the plan. Vague can cause delay.
3. Timing – When does the funding need to land?
2. Specifics – Details help us believe in the plan. Vague can cause delay.
3. Timing – When does the funding need to land?
Bring the lender in on the story
Behind almost every business loan is a human decision. So paint the picture. Share the ‘why & why now’, outline the commitments already in place, and be upfront about your client’s timelines. These details add gravitas and urgency, and help us act fast.
Often, we see the strongest applications come from brokers who take the time to craft this narrative. It doesn’t need to be long, just sharp, clear, and confident.
Often, we see the strongest applications come from brokers who take the time to craft this narrative. It doesn’t need to be long, just sharp, clear, and confident.
A friendly nudge goes a long way
Sometimes clients stall. They get busy, they hesitate, or they need reassurance. The top brokers don’t just wait, they lean in.
A simple, “What’s the hold up?” or “Is anything blocking this from moving forward?” shows care, not pressure. It keeps momentum and reinforces your role as a trusted advisor.
A simple, “What’s the hold up?” or “Is anything blocking this from moving forward?” shows care, not pressure. It keeps momentum and reinforces your role as a trusted advisor.
Purpose helps everyone make better decisions
When the purpose is strong, the path is clear. You’ll know if the loan is the right fit. Your client will feel more confident. And the lender can move with conviction.
And when the deal does move forward, it tends to do so quickly and smoothly.
And when the deal does move forward, it tends to do so quickly and smoothly.
At Banjo, we’re more likely to back purpose-led deals, and the brokers who champion them.
If you’ve got a client with a clear goal and a strong story, we want to hear it. Let’s make it happen.
Ready to move a purposeful deal forward?
Check out the Partner Solutions Hub or contact your BDM today.
