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PMD are proud members of the National Association of Commercial Finance Brokers, or NACFB for short. NACFB are the national trade body for brokers who arrange finance for businesses. They work to encourage best practice and these standards are published within an industry recognised Code of Practice, which has been formally recognised by the Office of Fair Trading since 1994.
Figures have just been released that show that NACFB members have transacted just over £20.7bn of lending in 2016. This follows £15.9bn in 2015. Tom Brown, PMD’s Head of Direct Finance commented: ‘These figures show how important brokers are to the UK economy. Many banks and funders don’t employ their own sales teams anymore, relying in the main, to source business from brokers.’ It’s important that SME businesses use brokers who are members of the NACFB to ensure good practice takes place.