The industry's leading commercial finance association has today announced that it has become a UK ‘super broker’ following its partnership with the Federation of Small Businesses (FSB).
The National Association of Commercial Finance Brokers (NACFB) and FSB partnership will combine the strength of both trade bodies to provide a UK-wide introduction channel for small businesses seeking finance.
There will be central and regional broker hubs serving the whole country which is another step towards helping small businesses find alternative types of funding.
Adam Tyler, NACFB Chief Executive, has been focused on bringing the Association and the Federation closer together over the past nine months.
He announced: “We now have a new central hub that is starting to take requests for finance directly from the small business community, driven by the Federation of Small Businesses.”
The partnership will see the FSB pass on credit enquiries from its 200,000-plus membership to the NACFB. The initial assessment is done by the NACFB. The Association will then recommend one of its regional broker members, decided on by a weighted set of criteria. These criteria, based on region and specialism, are then used to select brokers who are best placed to help source funding.
The NACFB holds a great deal of relevant data for its 950-strong membership and this data is continually updated by the member brokers themselves. The Association is therefore well placed to efficiently refer enquiries, working constantly with its 85 lenders to offer all types of commercial finance.
This deal ties together two very significant bodies and straightens the sometimes difficult path between small businesses and the money they need to grow and prosper. It effectively leaves the NACFB to operate as a ‘super-broker’ for lenders across all of its lending divisions, including leasing and asset finance, factoring and ID, traditional commercial mortgages, vehicle finance and specialist lending from new sources.
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