2020 has seen the number of NACFB Member firms increase significantly and, for the first time in its 28-year history, the Association now works with the direct support of 1,104 commercial finance firms – a 9% increase on this time last year.
The total number of Registered Individuals (RIs) has also passed the milestone of 2,000 Members – all operating their brokerage under the NACFB logo. This 11% increase is an all-time high and a record for the Association.
The NACFB has grown by an extra 90 membership firms in 2020 alone, ensuring that it remains by far the largest independent – and not-for-profit – trade Association dedicated solely to commercial finance professionals.
The news comes as the Association’s four-month fee moratorium comes to an end. In total, the freeze on membership fees for existing Members has saved each firm a minimum of £240 throughout the lockdown period.
The NACFB’s managing director, Norman Chambers, reflected on how the Association’s Members have stepped-up throughout the pandemic: “To see such continued growth in our membership, as well as our Member’s continued eagerness to engage with Patron lenders demonstrates two things.
“Firstly, that resilience is not just a by-word for riding out a challenging period, our Members truly have the staying power to service their clients in the toughest of times. Secondly, it is clear that more and more brokerages are appreciating the value of being recognised and accredited by a national and independent trade body.”
The Association’s growth in membership follows a month after the NACFB staged its first ever Virtual Expo, which saw over 1,700 finance professionals engage with the range of exclusive content on offer. The NACFB Virtual Expo will remain in perpetuity and can be re-watched at any time via commercialfinanceexpo.co.uk
The NACFB will be returning with another Virtual Expo later in the autumn.