NACFB finance platform into the final stages of the government programme
The NACFB has just received a letter from the British Business Bank, that informs us that we will be asked to provide a formal proposal of our suggested online referrals platform.
We are in effect through to the final round of applications, meaning that we stand to play a major part in helping SMEs across the UK find funding through a government designated finance platform run by the NACFB.
Our current findSMEfinance.co.uk website is already averaging £1.2m in leads per day and is supported by a large proportion of our 1500 commercial finance brokers. The technology is there to handle a tenfold increase in leads, and it’s a well-established and tested programme.
But the British Business Bank’s 2014 report found that two thirds of SMEs only go to one provider when seeking finance and 38% cancel their spending plans if their first approach is rejected. With 125 funders working with us, the NACFB is ideally placed to change that statistic and to send out the message that funding is available. Ours is a unique platform that uses Commercial Finance Brokers to help UK businesses find the correct source of funding from the myriad of lenders in the business lending market.
To grasp this opportunity fully, we need the broad reach of the government and the British Business Bank. For their part, they have viewed the Association as a fully credible resource for British business for several years now and this is the next step in raising the profile of our members nationwide as well as helping SMEs prosper.