National Association of Commercial Finance Brokers (NACFB) chief executive Adam Tyler has visited 10 Downing Street to advise the Prime Minister’s Office on small business funding.
Attending a summit on keeping the UK at the forefront of financial innovation, with Financial Conduct Authority chairman John Griffith-Jones, members of the Number 10 policy unit and representatives of HM Treasury and the Department for Business, Innovation and Skills, Tyler highlighted the lack of knowledge of funding options available to SMEs.
He also promoted the NACFB’s own Small Business Finance Directory, which is intended to match SMEs with suitable commercial finance via an approved independent broker.
Tyler said: "Gaining access to finance for SMEs is a major factor for the economic recovery. It is an urgent problem, but sadly too few business people really understand the SME finance market – particularly alternative forms of finance.
"We’ve led the way by creating The Small Business Finance Directory. It’s the only resource of its kind, so we need to be encouraging small businesses to use it."
Following the meeting at Downing Street, Tyler also met with Andrew van der Lem and Patrick Magee of the Government’s Business Bank, which aims to provide wholesale finance to a range of lenders in a bid to boost lending available to SMEs.
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