The National Association of Commercial Finance Brokers (NACFB) annual impact report reveals that, on average, lenders attribute 67% of their SME portfolios to intermediaries. In 2024, NACFB members facilitated £26.5 billion of the UK’s £38 billion broker-led SME lending market.
Commercial finance brokers have strong relationships with lenders and know how to present a finance application. Consequently, lenders are keen to work with brokers to help their clients secure the funds they need.
Other findings from the report highlight the importance of using a broker when seeking finance; these include:
Securing commercial finance can be complex and challenging for small business owners. Brokers know who to approach and how to structure an application, dramatically improving the chances of success.
Your bank is not your only potential source of finance. It pays to look at alternatives. A broker will help you find the right funding solution for your needs.
This trend is on par with the British Business Bank’s latest findings, which show challenger and specialist banks now account for 60% of UK gross commercial lending, overshadowing the big five high street banks for the fourth consecutive year.
Brokers aren’t tied to the high street banks, and alternative lenders can often be a better fit.
In challenging economic conditions, it pays to rely on a broker you can trust to do the best for you and your business.
Overall, the data highlights the increasing importance of the role of the commercial finance broker. When your business needs finance, the best option is to use an expert professional.
You can read the full report in the latest edition of Commercial Broker magazine.
ASC Finance for Business is an NACFB member and was awarded the 2024 NACFB Commercial Broker Network of the Year award.
