Category Archives: Uncategorized

Association confirms 2019 Board of Directors

Following a voting process to appoint a new Board for 2019, via an online EGM, the NACFB received sufficient votes to be quorate.

It can therefore be confirmed that the following Members have been appointed as Board Directors:

 

  • Mike Deacon – Asset Based Finance & Leasing

  • Mike Geddes – Asset Finance Solutions (UK)

  • Phil Gray – Watts Commercial Finance

  • Steve Olejnik – Mortgages for Business

  • David Sampson – Omega Commercial Solutions

  • Geoff Wilson – White Rose Finance Group

 

At the AGM in November, Members voted to retain Paul Goodman and Adrian Coles as Chair and Vice Chair to ensure continuity whilst the new Board is established.

The Association have also filled the Specialist Director roles with the appointment of Russ Lewis and David Newborough, whilst Martine Catton (Catalyst Business Finance) and Dave Furnival (NatWest) complete the line-up as Patron Directors.

Ralph Black, Ray Wells, Robert Collins, Alan Ellison and Graham Hill have stepped down from their roles as Directors. The Association is grateful for their enthusiasm, dedication and insight that helped drive the NACFB forward and we wish them every success in the future. 

 

NACFB partners with SmartSearch to enhance anti-money laundering checks

The NACFB has teamed up with SmartSearch to provide its members with preferential access to its award-winning anti-money laundering platform.

 

 

The partnership comes in response to increased demand from NACFB Members for a simple and effective way to conduct due diligence checks on both individuals and businesses.

After scrutinising the market – and consulting with members – the Association found that SmartSearch’s unique platform was ideally suited to offer a solution. The SmartSearch platform uses data partners Experian, Equifax, Dow Jones and Companies House to conduct searches and checks on individuals and businesses both across the UK and the international markets.

The simple and easy to use system allows brokers to access all this data in seconds, and can even be done remotely thanks to SmartAML, SmartSearch’s fully integrated app.

The SmartSearch platform also delivers warning email alerts, to allow those responsible for AML compliance to keep a watching brief over users and ensures that enhanced due diligence is undertaken if PEPs or Sanctions warnings are highlighted.

Graham Toy chief executive officer at the NACFB, said: “We work hard to ensure our brokers receive a first-class proposition with their membership, including comprehensive compliance support. Through implementing SmartSearch we are able to provide them with a world class resource for this important element of compliance.”

“The feedback from brokers who already use the platform is overwhelmingly positive. These brokers have told us that SmartSearch is an efficient and effective way of conducting background searches. We remain committed to making the lives of commercial brokers easier, and we look forward to continuing to provide innovative solutions like this, to do just that.”

John Dobson, CEO of SmartSearch, said: “We are delighted to be working with the NACFB, the support they provide for brokers is unrivalled in the market and the addition of the SmartSearch serves only to enhance this further.”

Martin added: “With fraud on the rise and the fifth money laundering directive now being implemented, there has never been a time when AML services have been in greater demand.”

The Association have negotiated preferential rates for all NACFB Members, who we will be invoiced quarterly based on usage. We have set-up a dedicated portal for you to get your business registered, this can be found via: www.smartsearchsecure.com/register/nacfb

You can find out more about the SmartSearch service by downloading the SmartSearch Brochure

Revealed: 2018 NACFB Award Winners

Over 700 people attended the NACFB’s record-breaking Gala Dinner and Awards Ceremony on Thursday November 29th 2018, rounding off a bumper year for the Association in both grandeur and style.

A selection of photos from the evening can be found here

The NACFB Awards Ceremony provides an annual opportunity for the Association’s brokers to recognise Patron lenders. What makes the NACFB Awards Ceremony different from others in the industry is that there is no fixed shortlist, so there can often be unexpected results from the voting. 

 

The full 2018 NACFB Awards roll of honour is…

 

Buy to Let Lender of the Year – Sponsored by Mortgages for Business

Shortlisted:

  • InterBay Commercial UK
  • Paragon
  • Shawbrook Bank

Winner: Precise Mortgages

  

Leasing & Asset Provider of the Year – Sponsored by Asset Finance Solutions

 Shortlisted:

  • Close Brothers Asset Finance
  • Hitachi Capital Business Finance
  • Lloyds Bank Commercial Banking

Winner: Investec Asset Finance

 

Best Development Lender of the Year – Sponsored by Stonehouse Property Finance

 Shortlisted:

  • Assetz Capital
  • Octopus Property
  • United Trust Bank

Winner: Aldermore

 

Business Bank of the Year – Sponsored by Empire Corporate Finance

Shortlisted:

  • Aldermore
  • Barclays
  • Lloyds Bank Commercial Banking

Winner: NatWest

 

Commercial Mortgage Lender of the Year – Sponsored by Watts Commercial Finance

 Shortlisted:

  • Aldermore
  • InterBay Commercial UK
  • NatWest

Winner: Lloyds Bank Commercial Banking

 

Factor & Invoice Discounter of the Year – Sponsored by Goodman Corporate Finance

 Shortlisted:

  • Aldermore
  • Lloyds Bank Commercial Finance
  • NatWest

Winner: Bibby Financial Services

 

Most Innovative Lender of the Year – Sponsored by White Rose Finance Group

Shortlisted:

  • Aldermore
  • Amicus Commercial Mortgages
  • Octane

Winner: LendInvest

 

Short Term Lender of the Year – Sponsored by Century 10 Real Estate Finance

 Shortlisted:

  • Aldermore
  • Masthaven Bank
  • Precise Mortgages

Winner: Shawbrook Bank

 

Small Funder of the Year – Sponsored by the NACFB

Shortlisted:

  • Esme Loans
  • Funding Circle
  • Growth Street

Winner: iwoca

 

Unsecured Funder of the Year – Synergy Commercial Finance

Shortlisted:

  • Esme Loans
  • Fleximize
  • Spotcap

Winner: Funding Circle

 

Specialist Lender of the Year – Sponsored by GPS Financial

Shortlisted:

  • Aldermore
  • InterBay Commercial UK
  • United Trust Bank

Winner: Together Money

 

Newcomer/New Entrant of the Year – Sponsored by Commercial Mortgages Solutions

 Shortlisted:

  • Amicus Commercial Mortgages
  • Mercia
  • Octane

Winner: Esme Loans

 

The Association gave special recognition to two industry titans for their dedication and service to the commercial lending community. The Lifetime Contribution award went to Graham Hill, who retires from the Board of Directors this year after 14-years of service. David Whittaker received the Outstanding Achievement award in a year that has seen him take a step back from the NACFB to focus on his new lending enterprise. 

 

Lifetime Contribution Award: Graham Hill

Outstanding Achievement Award: David Whittaker

 

Your evolving Association – 2018 NACFB AGM

 

In the coming days all full NACFB Members will receive a copy of the NACFB Annual Report, Accounts & 2018 AGM Agenda.

If not, you can download a copy here.

This year’s AGM will take place on 11.00am on Thursday 8th November hosted at the Commercial Finance Conference, one of three strands of the Lending Summit 2018 hosted at London’s Hilton Bankside.

We have ensured that registration to attend the Lending Summit is free for all NACFB brokers who, in addition to the AGM, will have access to all three conferences that are taking place that day. This is a saving of £150 on the standard broker rate. As such, we hope to see a strong turnout at this year’s AGM. 

All NACFB Member brokers can register for the event via this link.  Checkout as a broker and use the code NACFBBROKER to remove the cost of the ticket.

This year we also need to vote in a new Board and this can only take place if the meeting is quorate because our rules do not allow postal/proxy voting for this element of the AGM. It is therefore of the utmost importance that we achieve a high  AGM turnout.

Turning to the AGM agenda, you will see that in addition to the standard resolutions we are seeking to extend the tenure of the Chairman and Vice Chairman to create a transitional term to contribute to Board continuity and succession planning in relation to the new Board structure. We are also seeking to address the challenge of voting for new Board Directors by allowing postal/proxy voting.

We have unpacked our thinking behind each of the proposed Resolutions here in some more detail. 

So please join us for the 2018 NACFB AGM, join in the debate and see how your trade Association is working to help your business prosper in 2019 and beyond.

We look forward to seeing you on Thursday 8th November.

 

NACFB partners with PwC for commercial lending survey

Many of you will know that the Association used to undertake an annual member survey to assess the volume of business which was originated through both our Members and Patrons.

We didn’t continue with this in 2017 because we wanted to be sure that the data that we were collecting, and sharing was statistically robust. Over the last six months we have shared with you my plans to re-energise this process by surveying Patron lending activity rather than asking our broker Members. I have been heartened by the comprehensive support I have received from Patrons wishing to contribute to a replacement process, so I am now pleased to be launching the first survey adopting this revised approach.

The NACFB holds a privileged position, in that from our vantage point we see our broker Members engage with you, our Patrons, partnering the most dynamic, innovative and valued lenders and individuals operating in the UK commercial finance space. Such a position enables us to accurately capture the most comprehensive snapshot of UK lending activity, invaluable data that will inform your strategic planning.

Allow me to start by establishing our approach:

  • I have engaged PwC to help with this exercise. They will be acting independently and understand that all contributions must remain anonymous. The Association will never see any individual returns. They will be sent direct to PwC and we will only ever see the aggregated output.
  • To further preserve anonymity, I have also recommended that publication of the data can only proceed if a sufficient volume of Patrons complete the survey to allow reliable and comprehensive analysis.
  • I am also proposing that all contributors will receive a high-level summary of the findings before we publish the survey results. This would be on the condition that the Association are allowed time to issue their own press release on the survey outcome.
  • This survey will cover activity for the first half of 2018. If it is a success, the plan will be to run this at least on an annual basis so that we can capture a full calendar year.
  • PwC will deliver a data dashboard to be held under licence by the Association and subject to the conditions of anonymity, we will be able to interrogate the data on behalf of any Patron wanting to see the results through a requested lens e.g. products by region or loan type.

I hope that you agree that this approach is a fair and balanced way to proceed. Here is the process that you need to follow:

  1. Click to download the NACFB Lender Survey 2018  template, upon completion return to PwC via: nacfbsurvey@uk.pwc.com
  2. We have allowed four weeks for you to undertake the data collection process so please work on providing the return by Friday 21st September. 
  3. The template is self-explanatory with many drop down boxes. If some of the descriptions do not fit with your data capture, all we ask is that you employ best endeavours to complete the return. In the unlikely event that you require some assistance with the return you can call Anne-Marie Brennan on 07802 658980 or Adeel Ahmad on 07946 652795.
  4. Assuming we receive the required number of returns within the timescale, it is anticipated that the output will be available for sharing in the week commencing 24th September.

I strongly encourage all NACFB Patrons to contribute because this will provide all of us with a great opportunity to demonstrate the real value that our community is contributing to funding SME business in the UK.

This project will only be as successful as the data we obtain, so I ask you to partner with us on this journey to ensure that when we champion our sector at the highest levels we do so with as clear and as accurate a picture as possible.

We look forward to working with you and sharing such vital data upon completion.

Graham Toy

Join the NACFB this November at the Commercial Finance Conference 2018

The NACFB is partnering with Credit Strategy to support the Commercial Finance Conference which will also host our AGM on Thursday 8th November.

The Commercial Finance Conference will form one of three strands at the Lending Summit 2018 hosted a London’s Hilton Bankside. The Lending Summit is the UK’s first 360-degree forum for senior professionals and advisors in the consumer, commercial and corporate lending spaces.

The Commercial Finance Conference’s agenda will feature guest speakers, panel sessions and host the NACFB’s Annual General Meeting. Find out more, and book your attendance at an exclusively discounted rate for both NACFB Members and Patrons, here.  

Register to attend the Commercial Finance Conference today. 

Become a Broker Sponsor at the NACFB Awards 2018

The NACFB Gala Dinner and Awards Ceremony returns to the Park Plaza Westminster for the fifth year on 29th November 2018.
 
The Awards Ceremony provides an opportunity to recognise the most dynamic and valued lenders and individuals operating in the UK commercial finance space.

Each one of the fifteen award categories reflect a key aspect of the modern finance world, recognising innovation, stand-out lenders and new market entrants. 
 
We are offering NACFB broker firms the exclusive opportunity to sponsor a category from this year’s event. Award sponsorship enables your brokerage to be synonymous with the very best lenders in our community. 

The award sponsorship package includes:

  • Promotion of your brokerage:
    • On the Award Submission Form sent to all NACFB Patrons
    • Exposure online and in print – both before and after the event
    • At the event itself, on the screens, tables and in the event guide
    • As well as your logo and name engraved on the trophy
  • The sponsoring brokerage will also present the award to the winning lender on the night
The Award sponsor package is open to any NACFB brokerage and is priced at £750 + VAT
 
You can find out more – or secure your sponsorship slot – by emailing me on Norman.Chambers@nacfb.org.uk or by ringing 020 7101 0359
Please find below the full list of categories for this year’s NACFB Awards Ceremony: 
 
  • Buy to Let Lender of the Year
  • Leasing & Asset Provider of the Year
  • Development Lender of the Year
  • Business Bank of the Year
  • Commercial Mortgage Lender of the Year
  • Factor & Invoice Discounter of the Year
  • Most Innovative Lender of the Year
  • Short Term Lender of the Year  
  • Small Funder of the Year
  • Specialist Lender of the Year  
  • Vehicle Finance Provider of the Year
  • Newcomer/New Entrant of the Year
The event commences with a drinks reception at 6.30pm, followed by a three-course meal and the awards ceremony. As always, following the awards ceremony, there will be an after party with live music and entertainment.

Norman

Norman Chambers 
Managing Director

 

Patrons: Please note Award Submission Forms will be circulated, with additional award categories, in late August.  

 

 

Supporting the NACFB Magazine in 2019

 

As you will be aware, from January 2019 the NACFB Magazine will be brought in-house and we will no longer be partnering with our current suppliers.

We arrived at this decision for a number of reasons, chief among which was our desire to ensure greater editorial control whilst raising the bar for content in the form of high-calibre thought leadership. As a non-profit trade body, the magazine is not designed to be an income generator for the Association, we want to elevate the magazine and secure its position as a platform for the best industry insight from lenders and brokers alike.

In the coming days, our trusted partners at R&R Events will begin approaching you and your marketing teams to ascertain your interest in supporting the NACFB Magazine and outline the range of packages available to you.

 

You can also enquire directly via the below contact details:

e: magazine@nacfb.org.uk

t: 0845 0043169

 

I am asking you – as valued Patrons – to support the magazine not just in the form of advertising, but also by sharing with us your expert insight, detailed knowledge and industry experience in the form of thought-leadership and feature articles.

 

NACFB Patrons will receive a reduced advertising rate and we have inbuilt flexibility into the rate card rate card for longer term contracts.

All thought leadership pieces from NACFB Patrons will remain at no cost, although more overtly advertorial and self-promoting pieces will incur a fee as outlined in the rate card.

The NACFB Magazine offers unrivalled access to a captive market of the UK’s commercial finance broker market and I am calling upon you, as the UK’s most dynamic lenders, to join on this journey to guarantee our new look magazine’s success.

Thank you in advance for your continued support and for helping us champion the commercial finance community.

We look forward to your engagement with our refreshed magazine.

Graham Toy

NACFB joins the Women in Finance Charter

The NACFB has become the first trade body in the commercial finance sector to sign up to the Treasury’s Women in Finance Charter.

The Treasury announced the NACFB’s inclusion as part of a tranche of a further 67 companies who have signed up to the Charter, which aims to tackle gender inequality in senior roles.

The NACFB is proud to stand alongside our Patrons, many of whom have already signed up as we join over 270 signatories to the Charter, which now covers over 760,000 financial services employees in the UK.

The Women in Finance Charter asks firms to commit to four industry actions to prepare their female talent for leadership positions.

These include setting internal targets for gender diversity in senior management roles and publishing our progress annually against these targets in reports on the NACFB website.

NACFB CEO Graham Toy said of the announcement “We are delighted to have joined more than 270 companies who have committed to HM Treasury’s Women in Finance Charter.

Adding “Gender equality and diversity is integral to creating a fairer, more prosperous society. Whilst there’s still some way to go across the wider sector, we are proud to be part of a modern trade Association that is taking steps to be part of the solution.” 

 

Learn more about the Women in Finance Charter in the NACFB Magazine. 

Introducing: The NACFB Patrons Charter

 

We are delighted to announce the introduction of the NACFB Patrons Charter. The Charter, produced in consultation with lenders, outlines the professional expectations that come with NACFB Patronage.

NACFB Brokers already adhere to the NACFB Code of Practice which establishes a set of principles and professional standards for intermediaries in the commercial finance sector. The Association supports brokers on their compliance with this Code through the use of a ‘Minimum Standards’ scorecard.

Whilst a Patrons Code of Practice would be inappropriate, we have launched the Charter and will ask all Patrons to acknowledge its content as part of their involvement with the NACFB.

The objective of the Charter is to formally recognise that the aim of any collaboration between NACFB Brokers and Patrons is to maintain and promote business relationships for the mutual benefit of client firms. 

The Charter forms part of our efforts to promote the advancement of professional standards throughout the wider commercial finance industry by:

 

  • Encouraging professional and social interaction between Brokers and Patrons
  • Encouraging brokers to consider the products and funding options of Patron firms when appropriate to meet the needs of their clients
  • Achieving recognition by Government, lenders, other professional bodies, the business community and the public, of the strength of this collaboration and mutual professional standards

 

 The NACFB Patrons Charter

 Patrons acknowledge the provisions of the Constitution of the Association:

  1. Patrons acknowledge the NACFB Code of Practice which lays out the framework under which brokers are expected to conduct their business.
  2. Patrons recognise that the NACFB logo is a marque that stands for integrity, professionalism, conduct and practice that is expected of the Association’s Patrons and Members for the further protection of the consumer.
  3. Patrons recognise the importance of conduct in the market place and the standards expected by regulators and the context of this in building robust reputations as well as SME and consumer confidence.
  4. Patrons recognise the benefits of appropriate levels of due diligence when it comes to accepting introductions from intermediaries, understanding the regulatory requirements of this activity.
  5. Patrons recognise the benefits of an open and honest relationship with the Association and its Members as well as the appropriate regulatory bodies.
  6. Patrons recognise the benefit of dealing with brokers and clients with the utmost good faith and with a standard of competence, fairness and courtesy.
  7. Patrons recognise the value of training and education and whenever possible contribute to the raising of professional standards in the commercial finance sector.
  8. In becoming a Patron of the NACFB you are prepared to adopt and uphold this charter.