Top Ten Tips to Best Practice: Tip 7

Top Ten Tips to Best Practice: Tip 7


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 7: Choosing the right lender

There are five High Street banks, all are in the UK SME market in varying degrees – but that is not up for debate today. What is, is the range of lenders and funders in the UK market to choose from. The NACFB works with 75, who are patrons of the Association, and these range from the High Street banks through to specialist niche lenders.

Of course by this stage, we know whether we need a factor, a lessor, a conventional commercial mortgage etc, so it is a choice from within each specialist area. We are now down to not only industry knowledge, but we are further complicated by the number of lenders panels we are on.

This is of course a difficulty for the NACFB as it is only right that all our members should work with all our Patrons. But reality tells us that some just do not have the infrastructure to cope and others choose to work with a selected number who give them the right volume and quality of business. So choice for the broker is not only determined by the needs of the customer, but what access they have to commercial finance providers. It is easier to have a wider panel the longer you have been in the market and of course it is easier to access lenders and funders if you are a member of the NACFB. 

To view all the tips so far 

click here

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