Top Ten Tips to Best Practice: Tip 1

Top Ten Tips to Best Practice: Tip 1



Every week, Adam Tyler, Chief Executive of the National Association of Commercial Finance Brokers (NACFB) gives us a handy hint for brokers’ best practice…

Tip 1: Identifying the correct type of finance

This series of tips is based around the NACFB code of practice and is designed for unregulated advice.

The sales process needs to be as close to a regulated environment without impending on the nature of the commercial deal with its many complex facets. All the procedures adopted at the outset expected in a regulated environment should apply.

The style of advice will depend on the identification of the correct type of finance that the client requires in the initial stages of a deal. This may be a combination of different types of commercial funding that is appropriate to the borrower and their business.

This is fundamental and is where the expertise of the commercial finance broker will set the transaction in the right direction from the outset. We will cover more on this next week.

To view all the tips so far click here

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