NACFB members facilitate 70% of UK’s £38bn SME lending

The National Association of Commercial Finance Brokers (NACFB) has revealed that its members facilitated nearly 70% of the UK’s £38bn ($49.19bn) broker-led small and medium-sized enterprises (SME) lending in 2024.

Published in the association’s annual impact report, the findings highlight the critical role of brokers in enabling SMEs to access finance.

The 2024 survey data shows that commercial lenders depend on brokers for an average of 67% of SME finance transactions.

The report also highlighted a market shift from traditional financial hubs such as London and the South East, which saw declines in market share, towards regions such as the West Midlands and the South West.

Brokers’ ability to navigate an expanding financial ecosystem, including fintechs (2%) and community development finance institutions (CDFIs) (0.5%), has been instrumental in securing solutions for clients, the report said.  

Among SMEs that received funding through NACFB brokers, 20% had initially been rejected elsewhere.

The data also emphasises the bespoke nature of broker-led financing, with 25% of SME clients receiving a different financial product than initially requested.

Additionally, 33% of brokers expanded their service offerings in 2024 to meet the growing demand.

The trust brokers have built with their clients is demonstrated by the fact that nearly half of all brokers’ leads last year came from returning customers, NACFB said.

Looking ahead, the influence of brokers is set to deepen, with 83% of NACFB Patron lenders expanding their broker panels in 2024 and 67% increasing their broker-facing teams.

Over a third of surveyed lenders diversified their product lines last year to align with broker demand for niche financial solutions.

NACFB interim chair Adrian Coles said: “Commercial finance brokers are the connective tissue of the UK economy.

“Our role isn’t static – it’s evolving. Whether navigating tighter lender criteria, diversifying product offerings, or championing underserved regions, our community is meeting challenges with professional agility.

“We don’t just facilitate transactions; we help build relationships that turn a ‘no’ into a ‘yes’ for UK SMEs seeking access to finance.”