"In an era when some lenders are scaling back their face-to-face operations, the modern finance broker has inherited and enhanced the role of the local bank manager."
The NACFB has launched an online portal, findsmefinance, which gives businesses access to the trade body’s membership of independent finance brokers.
The free directory enables SMEs to filter their funding requirements by loan size, type and location and are then presented with a range of the Association’s commercial brokers to approach.
The platform is available to all UK SMEs and provides exclusive access to NACFB broker members with the aim of offering an alternative route to finance for businesses that may have been turned away elsewhere.
Each NACFB broker has an updateable online listing and can monitor SME engagement through the platform via an analytical dashboard.
Graham Toy, CEO of the NACFB, said: “Access to finance remains a key issue for UK businesses and we believe there is still a lack of awareness of the finance options available to SMEs.
“In an era when some lenders are scaling back their face-to-face operations, the modern finance broker has inherited and enhanced the role of the local bank manager. Brokers are able to provide advice and products from a wide range of UK funders.”
NACFB Chair, Paul Goodman, commented: “The Government’s bank referral scheme helped just 230 British businesses access £3.8m of funding in its first nine months, meaning that only 2.8% of the 8,100 businesses referred through the scheme were able to draw finance. Our findsmefinance platform, powered by the NACFB, is targeting 5,000 SME searches in the first year alone.
“The site will seek to provide a lifeline to those left behind by providing access to a wide range of brokers, all of whom adhere to an industry recognised Code of Practice. If a business uses a broker with the NACFB logo, they know they’ll using a knowledgeable, experienced and trusted adviser."