The National Association of Commercial Finance Brokers was founded in 1992 in response to the growing incidence of fraud and is run by an elected Board of Directors supported by the Executive. It was formed in the belief that the establishment of measurable standards of proper professional practice in sourcing commercial funding was in the best interests of its SME customers, and vital to the integrity and future well-being of the industry.
Published within an FCA registered Code of Practice, these standards have been adopted by an increasing number of commercial finance and legal brokers.
- The NACFB has established complaints and disciplinary procedures designed to eliminate unacceptable working practices amongst its members.
- The Association also exists to safeguard both its members and their clients against restrictive practices within the industry. It maintains a confidential register of brokers and lenders suspected of fraud and malpractice.
- The Association also has a wide range of lenders and funders that provide support, who in many cases market their financial products either solely through the NACFB Members or through the Commercial Broker channel in general.
- Therefore, this is the sole source of access to this wide range of lenders for SMEs across the UK.
- In the interests of members and their clients, the NACFB monitors legislation and makes appropriate representations to Ministers and Members of Parliament.
- It furthers the principles of good practice by seeking to work with kindred associations and interest groups, and by providing education and training for its members and their employees.
Why use an NACFB Broker?
- As funding for Small Businesses has become more difficult, the advantages of using a broker to help fund your Business are greater than ever and this has been recognised at the highest level.
- The NACFB is engaged with Government and HM Treasury in sourcing not only High Street lending but Alternative forms of Finance to help SME UK.
- NACFB members have access to a comprehensive range of finance facilities for small and medium sized businesses (SMEs) in the UK, including commercial mortgages, leasing and asset finance, vehicle finance, buy to let and factoring and invoice discounting.
The benefits of using an NACFB broker include:
- Choice – Members can provide products from reputable national and international business finance providers. The Association is currently sponsored by a large number commercial finance institutions, including banks, building societies, factors, lessors and a whole range of alternative forms of business finance.
- Competition – Members are able to negotiate the best rates and terms for their clients.
- Clarity – Members ensure that their clients have a real understanding of the facilities that have been negotiated, with a full explanation of terms and conditions.
- Presentation and Packaging – Members are experienced in presenting and packaging an application on behalf of clients, thereby greatly enhancing the chances of securing finance.
- Protection and Best Practice – Members of the NACFB operate under an FCA registered Code of Practice.