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 Office of Fair Trading 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.
The NACFB runs the findSMEfinance website, a one-stop shop to direct small business owners straight to NACFB brokers (www.findsmefinance.co.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.
Phone 020 7101 0359 to learn more.