I think there will always be a need for a good broker. Just as I would take my car to a mechanic to get it fixed because I am no auto repair expert, a smart business owner should use a good broker to get business financing. A business owner does not know all the direct lenders, and what types of deals each lender prefers. And therefore does not know who will give him the strongest approval at the lowest cost. By going to a direct funder they are limited to only the programs offered by that funder, whereas a broker has access to many more options. I have to say it is very rare that we get a merchant with an existing balance with a competitor, and we are not able to beat the merchants previous deal.
The catch of course being that the business owner must use a GOOD broker, one that is not short term commission focused and charging a bunch of junk fees.