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March 7, 2011updated 12 Apr 2017 4:16pm

Smaller funders to target SMEs

Bank-owned lessors are set to be overshadowed by smaller lenders and those from overseas, the chief executive of the UKs National Association of Commercial Finance Lenders has said. Adam Tyler, chief executive of the NACFB, said high street banks were likely to turn away from leasing and more towards mainstream funding for SMEs.

By Claire Hack

Bank-owned lessors are set to be overshadowed by smaller lenders and those from overseas in the SME market, the chief executive of the UK’s National Association of Commercial Finance Lenders has said.

Adam Tyler, chief executive of the NACFB, said high street banks were likely to turn away from leasing and more towards mainstream funding for SMEs.

He said: “Funders are coming in from other places and they’re different types of lenders to what we’ve had previously.”

His views followed on from the recent NACFB Asset Finance Seminar, held earlier this month in London.

Tyler also said both brokers and funders attending the event were keen to increase levels of lending in asset finance.

“The next step is to make sure that the dialogue continues between us and our members and the FLA and their members so that we can make more funding available,” he said.

“We’ve also got a joint code of practice between the two organisations to make sure brokers behave in the way funders want them to and vice versa.”

Tyler added: “Essentially, the day was designed to get the broker market and the lenders talking to ensure that we are moving forward during 2011 and increasing the funding to our SME customers once again.”

The NACFB is to continue discussions with new funders coming in through the intermediary channel in the UK and its commercial finance expo will take place in June.

claire.hack@vrlfinancialnews.com

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