The NAELB is the NACFB’s counterpart in the US and plays a similar role there to that played by the NACFB here – a self-regulatory body with the aim on instilling confidence in its members and giving them a uniquely wide choice of funding options.

The new partnership is a mutually beneficial relationship, that'll help customers and members alike.
 
Adam Tyler, CEO of the NACFB, said: “I welcome the chance to build a partnership with the NAELB because it helps us to cross boundaries. We can learn something from our US counterparts’ emphasis on training and education. If NAELB brokers are unable to help directly they will soon be able to place the deal with the NACFB… and vice versa. It’s one way to give a leg up to SMEs in both our nations.”

Bud Callahan, former President of the NAELB, added: “I know both of our associations will benefit from our new initiatives as both associations are trying new approaches to the market…I am confident we are off to a good start.”

Bud, a founding member of the NAELB, spoke to NACFB members at the recent Commercial Expo about their "American brothers". He explained how both associations have remarkable similarities. The NAELB has been in existence for 22 years, just one year longer than the NACFB and both associations cater to the broker market.

The history and formats of the associations bare synergy from how they were both set up, the amount of members they respectively have, to the purpose and function.
 
The NAELB does not cover the breadth of the US just yet but has a remarkable slice in the equipment leasing pie in the US, valued at around $600 billion.
 
The NAELB focuses on equipment and leasing, asset, commercial and bridging finance.
 
Bud told B&C that even the brochures and literature were in the same style and bore the same message.

The partnership also has a monetary benefit for members, with commissions being split between US and UK brokers when introducing and dealing with a case. It will be useful for brokers who can not only find lenders for their clients in the UK and US.

is a strong educational value in this alliance too, with both countries have similar funding problems, in which banks pulled funding smaller businesses as they were perceived as higher-risk loan prospects.

Leads will be introduced to both associations. If an NAELB broker is unable to help directly with a deal they’ll be able to use the partnership to source the right funder in the UK; and vice versa.

The creation of this Atlantic bridge between the UK and the US will help all member brokers with increased lending opportunities.

Transactions and leads have already been lined up for the launch of the partnership.