Metro Bank joins the NACFB as a lender patron
Metro Bank today announces that it has joined the NACFB as an official lender Patron. The NACFB is the UK’s largest independent trade body for commercial finance brokers, with over 2,000 commercial intermediaries covering the whole of the UK.
This comes at a time when Metro Bank is keen to expand its commercial lending, especially via the intermediary channel. Simon Neale, head of commercial intermediaries at Metro Bank, comments: “We are thrilled to reaffirm our relationship with the NACFB. The organisation’s excellent reputation and diverse networks make it an important partner as we drive commercial lending through its range of expert intermediaries.”
Some of Metro Bank’s key strengths for commercial lending include:
- Lending from £250k up to £15m
- Appetite to lend to all trading business sectors
- A smooth on-boarding process for both regulated and non-regulated brokers
For asset finance, highlights include:
- Loans from £15k up to £5m
- For deals up to £150k, Metro Bank uses a matrix that articulates exactly the types of customers that the lender accepts. The Bank shares this matrix with intermediary partners, allowing brokers to identify very early on whether they will get an acceptance for that customer and under which terms
- Customers have access to their own dedicated relationship manager and operational support. For larger deals, Metro Bank will also provide credit partners to visit customers in person
On invoice finance, the Bank also offers:
- Lending from £100k up to £20m
- Factoring and invoice discounting
- Metro Bank relationship managers that support an average of 35-40 customers each, ensuring a personalised level of service and providing time to get to know customers
- 28 day notice for customers so they are not tied into long term contracts
- Key benefits of factoring proposition include:
- A trust account for each customer as opposed to one account for all customers, meaning that receipts can be tracked and allocated easily.
- A named credit controller based in UK offices providing full A-Z credit control.
Norman Chambers, NACFB managing director, spoke of Metro Bank’s Patronage: “The return of Metro Bank to the NACFB fold is a very welcome one. The move marks a real commitment to intermediary-led commercial lending. We look forward to partnering with the Metro team to help support UK SMEs via their growing product range.”
