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.
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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.
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By GlobalData“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
