Somo appointed as a patron lender of NACFB
Specialist lending firm Somo Bridging has become a patron lender of the National Association of Commercial Finance Brokers (NACFB), which is the UK’s largest independent trade body for commercial finance brokers.
Lenders such as Somo must meet NACFB criteria to become a patron of the Association, which expects its member brokers to operate to the highest industry standard. Partnering with Somo means the NACFB views Somo as a professional lender which can support NACFB brokers facilitating finance. As an NAFCB approved lender, brokers and their clients throughout the UK can have confidence that when they work with Somo, they will be dealing with a team who knows the market inside out and adheres to a strict code of practice. It also means they will have access to Somo’s team of experts and a raft of market leading products such as its famous Valuation Only TM and market-leading Second Charge loans.
For Somo, it is a privilege to be recognised by such a reputable association in the industry and the patronage highlights their exponential growth over the past few years. The bridging lender now boasts a team of over 40 employees made up of underwriters, case managers, relationship directors, as well as their investor relations, finance and marketing teams.
In 2022, NACFB Member brokers facilitated more than £45 billion of borrowing by UK SMEs.
Somo’s sales director, Jade Keval said: “Somo’s growth over the past few years has been exponential and our partnership with the NACFB will widen our platform further enabling even more brokers see the benefits of working with us. The NACFB expects its panel of lenders to maintain high standards, which gives brokers and their clients the confidence they’re dealing with reputable professionals.
“We’ve always worked tirelessly for our broker clients and feel that this partnership provides an additional string to our bow. Being accepted as patron lender underlines all that we do so well including the provision of market leading products, years of experience and expertise and a robust approach to underwriting.
“Like Somo, the NACFB is passionate about supporting brokers to find the right solutions for clients and simply making the whole borrower experience better. We’re looking forward to partnering with their respected team and getting even more deals across the line.”
Norman Chambers, managing director at the NACFB comments: “We’re delighted to welcome Somo as a Patron. Whilst there are many good bridging lenders in the market, Somo’s offering is a little different. We particularly like the way they can work with our Member brokers to achieve solutions for business borrowers across the spectrum of statuses, from those with impeccable credentials to those whose requirements and circumstances are more complex.”
This new partnership comes after Somo announced in May 2023 that they were joining finova’s lending panel.
