FAQ

Why become a member?

If you are new to commercial finance and commercial broking, becoming a member of the NACFB can help you on your way. We offer advice and support during the early stages, with business document templates, free legal helpline, fact sheets and training and development events across the UK.

If you are an established broker we can offer you networking opportunities with like-minded members of the industry, help and support with legal and compliance issues, competitive professional indemnity insurance, training and development to help with CPD, and access to over 40 lender Patrons. For more information on becoming a member and the benefits, please click here

Why should I use a broker for my business?

1. Commercial finance advice should come from experts
Commercial finance is a complicated subject. Unlike standard residential mortgages which have neatly defined rates and criteria, commercial finance is much more tailored and requires a good degree of skill and experience to find the right deal.

2. Save time - and money
Many business owner-managers are becoming much more savvy and outsource their financing to a specialist, which in turn allows him (or her) more time to manage the day to day running of his (or her) business. Shopping around for the best deal has become increasingly common and one of the main advantages of using a broker is that they will do that shopping for you.

3. An old-fashioned approach
Dealing with a broker means dealing with an individual. A broker is someone who will take the time to understand you and your business and offer a personal one-to-one service tailored to your business needs. And if your broker understands your business and your requirements they are in an excellent position to secure you the best and most suitable deal.

4. Never assume
The finance you think you need may not be the finance you actually need. This is another area where a broker can help. Although you may think that you need a loan to buy your equipment, a broker might recommend a leasing arrangement as more suitable. Perhaps instead of a traditional overdraft, the flexibility of a factoring arrangement will give your business the cash injection it needs.

What are the benefits of using an NACFB broker?

Brokers who are members of the National Association of Commercial Finance Brokers (NACFB) all adhere to an industry recognised Code of Practice, so if you use a broker with the NACFB logo, you know you'll be getting a good service.

What is the difference between full & associate membership?

The difference between the two types of membership is one of experience. Associate members are new to commercial broking - although they may have had years of experience in commercial finance in general by, for example, working as a corporate manager for a bank. It is only possible to be an Associate member for a maximum of two years. After this time an Associate must upgrade to full membership, or leave the Assoication. Full members have a proven track record in commercial broking. On joining the Association or on upgrading their membership from Associate, a Full member will undergo stringent checks (For further details on these checks, please click here).

What is a Patron, and who are they?

Patrons are lenders and funders who support the NACFB's Code of Practice. They work with the Association in providing products, services and support to members. Members can find a full list of Patrons in the Member Resource centre.

What are the costs of membership?

The cost of full membership per annum is £220. The cost of associate membership per annum is £120.