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.
Trade body instructs entire team to work from home as Coventry event postponed
Following the issuing of government guidance in relation to the coronavirus outbreak, the National Association of Commercial Finance Brokers (NACFB) has closed its physical London head office at 33 Eastcheap until further notice.
By adopting a full virtual remote working plan for all staff, the functionality of the Association will continue unimpeded but the upcoming events in Coventry on Wednesday 18th March have been postponed.
No members of the NACFB’s head office team have shown any of the symptoms of the virus and no staff have tested positive for the COVID-19 flu strain, the decision to work remotely has been taken as an entirely precautionary measure.
As of yet there are no plans to postpone either April’s NACFB Commercial Broker Awards or June’s Commercial Finance Expo – both set to be held in Birmingham. Their status will be monitored and all updates issued daily through the NACFB Morning Briefing.
Commenting on the office closure, NACFB CEO Graham Toy, said: “The safety and wellbeing of our head office team remains paramount. Given our City of London location and the reliance on mass public transport for many of our team’s commute, we have taken the decision to close our head office whilst the current situation persists.
“All meetings with the head office team will be rescheduled and we will continue to monitor the latest official guidance before making any further decisions regarding upcoming NACFB events.”
The NACFB will endeavour to remain fully operational in a remote setting, but stakeholders are advised to submit any enquiries via email where possible.
Contacts can be found below:
Graham Toy recognised for his outstanding contributions to the UK lending community
LONDON, Monday 9th March 2020: Graham Toy, the CEO of the National Association of Commercial Finance Brokers (NACFB), has received a Lifetime Achievement Award at the 2020 Business Money London Dinner & Awards.
Graham joined the NACFB in June 2017 arriving from N&P Commercial Lending, where he held the position of head of commercial lending and social housing for ten years. He previously held lending roles at both Barclays and Abbey Commercial.
Since taking the helm, Graham has overseen year-on-year membership growth and directed increased engagement drives with the Association’s 1934 Member brokers and 141 lender Patrons.
Upon receiving his award, Graham Toy reflected: “I am equal part surprised and delighted to have received this recognition, I have dedicated my professional life to helping fund UK business but I couldn’t have achieved this without all of the hard-working teams that have supported me.”
The editor of Business Money, Bob Lefroy commented: “I have worked with Graham in a number of his roles, and throughout his career he has consistently placed great emphasis on the vital dynamic between lenders and the intermediary community.
“Since taking over at the NACFB, Graham has brought about a real culture change and is implementing measures to ready the trade body so that it can better meet future challenges head on,” he added.
The Business Money London Dinner took place at the Hilton in Paddington on Thursday 5th March 2020.