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...
Read moreFor many businesses needing finance, their bank is their first port of call. The British Business Bank recently reported that 51% of smaller businesses only approached their bank. If their bank declined them, only 5% would consider another lender. However, despite banks being a clear favourite for business finance, they aren’t the only option. If...
Read moreBusiness Finance Week 2024 launches next week. This free 10-day event, hosted by the British Business Bank and several UK partners, aims to help smaller businesses learn about the different finance options. We work with many smaller businesses, helping them secure finance, so we know the challenges they face all too well. We champion events...
Read moreCommercial and residential mortgages are similar in that they both involve borrowing money to purchase property. However, they differ in several ways: 1. Purpose Residential mortgages are used to finance the purchase of homes that people will live in. On the other hand, commercial mortgages are used to finance properties primarily intended for business activities....
Read moreBridging finance, also known as bridge loans or bridging loans, is a short-term loan (generally 12 months or less). Bridging loans provide quick access to funds and are typically used to bridge a gap between purchasing a new property and selling an existing property. However, there are other scenarios where bridging finance might be appropriate,...
Read moreA recent survey highlights the benefits of using a commercial finance broker when seeking funding for your business. The latest National Association of Commercial Finance Brokers (NACFB) membership survey of over 2,400 commercial brokers and 155 lenders found that commercial finance brokers facilitated a significant £38 billion in lending to small and medium-sized enterprises (SMEs)...
Read moreAs we start a new calendar year, we thought we’d share our expectations on what will happen in the UK lending market in 2024. Of course, we don’t have a crystal ball (sadly!), so these are our best-guess predictions based on the current market conditions and our industry experience. Tightened lending criteria During 2024, some...
Read moreSecuring finance without trading accounts can be a chicken-and-egg situation. You need finance to start trading, but you can’t get finance without accounts proving the business has been successfully trading. However, all is not lost. With the help of a professional, it’s possible to convince a lender that your business is credit-worthy. For example, The...
Read moreLast autumn’s market turmoil and the subsequent 14 consecutive base rate rises by the Bank of England have dramatically changed the commercial lending landscape compared to 12 months ago. So, if you’re considering buying or expanding a business, how likely will you get bank finance? Here’s how the UK bank lending market is currently looking:...
Read moreIf you’re looking to purchase a business and need financing to make it happen, there are numerous ways to fund your business acquisition. It can be a complex process, but with careful planning and consideration, you can secure the necessary funds to acquire your desired business. Here’s a summary of the common methods for financing...
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