The National Association of Commercial Finance Brokers (NACFB) has announced free membership for all existing brokers for the next four months.
To provide an immediate and direct lifeline for brokers, the Association will not be running direct debits for membership fees, nor will it seek to latterly accrue payment.
Speaking on the membership fee grace period, NACFB Chair Paul Goodman, said: “We know that last night’s announcements from the Chancellor won’t go far enough to impact most of our membership.
“We have therefore made the right decision to pause the collection of all broker membership fees – a far more substantial measure than any three-month holiday period.
“We want our loyal Members to be able to lean on their trade body during this difficult time and feel supported, not just in terms of our service, but financially too.”
No membership fee direct debits will be made for any existing NACFB brokerage for the next four months, from April until July 2020.
For all the latest news and coronavirus-related lending updates, visit our NACFB COVID-19 Response Hub.