MP chairs NACFB alternative finance conference

MP chairs NACFB alternative finance conference

An alternative lending conference, aimed at SMEs and inspired by the NACFB - the Genesis Initiative Conference - took place in Westminster last week (June 21st).


An alternative lending conference, aimed at SMEs and inspired by the NACFB - the Genesis Initiative Conference - took place in Westminster last week (June 21st). Jason McGee-Abe caught up with Adam Tyler, CEO of the National Association of Commercial Finance Brokers (NACFB), to get an exclusive insight into how the day went…



Due to the NACFB’s attendance at various Westminster initiatives designed to increase funding lines to UK SMEs, the Association was asked to arrange a special alternative lending conference – the Genesis Initiative Conference, entitled “When The Banks Say ‘No’ Where Do I Go?”.



Adam Tyler said: “The conference was organised with the Genesis Initiative, which a group that supports and represents all the SME trade bodies, which in turn represent around one million UK SME members. I attend regular meetings at the House of Commons and at the House of Lords and we thought it was about time to organise an event to highlight alternative finance that is available to SMEs.”



The conference was chaired by Anne Marie Morris MP, the Chair of the All-Party Parliamentary Group for Micro Businesses, who has been “a tireless champion of small businesses”, Adam Tyler commented.



B&C got in touch with Anne Marie Morris MP to get her views of the day. She said: “It was a pleasure to chair what I believe was an important and informative conference. It is essential that we do everything we can to encourage banks to lend money, especially to the small and micro businesses that are the foundation upon which our economy is built. 



“However, banks are not the only credible source of finance out there and this conference explored some of the alternative options available to businesses.  On a personal level, I will continue to do all I can in Parliament to ensure our small enterprises can secure access to finance in order to allow them to survive and flourish.”



There were 75 heads of trade bodies present on the day; including ones from the construction and leisure sectors and also the British Chamber of Commerce and the Federation of Small Businesses (FSB), there on the day and Adam Tyler opened by explaining how the Association’s expertise can give members of the various SME trade bodies’ advice on how to access credit from alternative sources.



Adam Tyler said: “The main point that we wanted to convey is that we know that lending can’t be freely accessed at the moment but to emphasise that there is access to alternative finance through the NACFB.”



Speaking to the various SME trade bodies in attendance there was a panel of five funders present on the day. These were:



- Aldermore Bank;



- Shawbrook Bank;



- Investec Bank;



- Funding Circle;



- Deutsche Bank.



Adam Tyler stated: “Each of the panel made a presentation to the attendees on the day, speaking on the different forms of alternative finance, what’s currently available and what’s to come, and at the end of the conference there was a panel Question and Answer session that last over an hour. After the conference ended there were still numerous queries from the attendees as to how they could access alternative finance.”



The day gave the NACFB a great opportunity to promote the help its brokers can give to SMEs struggling to find funding and it highlighted that the NACFB is viewed as a key player in helping to channel funding to UK businesses.



Adam Tyler said: “Days such as these are vital to the Association’s work, and really reinforce efforts made to reach out to the UK SME market. As a result, the NACFB is increasingly viewed as the major player for getting funding lines for UK businesses.”



Adam Tyler also disclosed to B&C that he had recently taken part in two meetings with BIS about the Business Finance Partnership, which is a fund developed by HM Treasury to help businesses find alternative funding sources. So keep your eyes posted on this development!



Summarising the results of the conference, Adam Tyler added: “This is not just a one off programme with the NACFB intermediary network, but a sustainable long term plan to get private and institutional money to SMEs. The reputation that the NACFB has built, along with the industry recognised Code of Practice has helped us to become a main player in the government’s plans for UK SME funding.”






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