UK trade body the National Association of Commercial Finance Brokers (NACFB) has launched a system for the SME members of the Federation of Small Businesses (FSB) which allows them to locate suitable local commercial finance brokers online.
The Small Business Finance Directory, which replaces a scheme of the same name set up in 2012, is a website where the FSB’s 210,000 membership businesses can input their requirements and are then directed to the most appropriate broker in the area.
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The broker will receive the details of the enquiry, as well as notification in their front office system, with the onus on the broker to follow the deal, thereby simplifying the process for SMEs and cutting down on wasted enquiries.
The system, powered by software group eKeeper, will update brokers’ systems with any follow up action, and will provide the NACFB with details such as value, type, and geographic distribution of leads, and reasons for the success or failure of any application, which can then be passed on to the FSB.
The system is an evolution of a plan for NACFB to cooperate with the FSB in finding its member suitable brokers which was announced in October 2012.
Adam Tyler, chief executive of the NACFB, said that while the organisation "wasn’t set up to provide brokers with leads", he was "delighted" it has grown to be able to provide such a scheme and play "a big part in enabling commercial funding."
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By GlobalDataHe added: "The Small Business Finance Directory offers small businesses a quick and efficient route to gain funding via our one thousand brokers. Now we need to spread the word around and make sure SMEs are aware that funding doesn’t have to be hard-to-find any more."
