The UK’s three asset finance organisations
teamed up to launch a comprehensive list of sources of commercial
finance for SMEs in the UK with the Small Business Finance
Directory.
Developed by the Finance & Leasing
Association (FLA) in conjunction with the National Association of
Commercial Finance Brokers (NACFB) and with the assistance of the
Asset Based Finance Association (ABFA), the aim of the online
directory is to make alternative lines of funding easier to find
and the bodies anticipate it will help 60,000 small businesses in
its first year.
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The Directory
lists lease funders, brokers and invoice finance providers and has
the function to search by region or postcode, search for nationwide
lenders, or contact independent advisors to help find commercial
finance and explain the spectrum of available products.
The government has lent its support to the
scheme and Commercial Secretary to the Treasury Lord Sassoon, who
helped launch the site at this year’s NACFB Asset Finance Seminar
in Westminster, wished it every success in helping the “the
lifeblood of our economy”, the local business sector.
Stephen Sklaroff, director general of the FLA,
said: “Every day, around 1,000 small businesses agree asset finance
deals which help them invest in essential new equipment. Many more
would do so if they had easy access to the available sources of
alternative finance.
“The Directory responds to requests from small
businesses for a clear and comprehensive reference source for their
funding needs.”
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