The NACFB has partnered with Asset Finance Connect (AFC) in becoming a corporate member.
AFC provides a forum for debate for all participants in the asset finance ecosystem including brokers and lenders. AFC seeks to enable open discussion – frequently tackling issues that some may find difficult to discuss – issues which otherwise might inhibit growth and the continued evolution of the asset industry.
NACFB managing director, Norman Chambers, commented on the partnership: “The NACFB’s core values of improving access to finance for the SME community with positive outcomes through brokers and collaboration with lenders and funders is very closely aligned with Asset Finance Connect.”
“We look forward to developing this partnership, the fruits from which we believe will benefit the wider asset finance community,” Norman added.
Edward Peck, CEO of AFC, emphasised the importance of collaboration and open discussions in the asset finance industry to drive innovation and enhance value. Edward shared: “We are particularly pleased to engage with the NACFB as we become NACFB partners and they AFC corporate members.
“The associations all have an important role to play, representing not only their members’ short term and immediate interests but also their longer-term interest through the building of an efficient and well organised marketplace,” Edward added.
Continuing: “The industry in turn will evolve so that it continues to be relevant in a changing marketplace ensuring that we can continue to meet the needs of important groups like SMEs even when other types of funders appetite or ability to lend is low. The industry is demonstrating this strength right now when the economic outlook is uncertain. Recent British Business Bank data shows that asset finance has increased its lending year to date by 17.9% compared to bank lending which has reduced by 3.7% and equity funding which has reduced by 63%.”