NACFB is an independent broker-led trade body in the UK. Credit: Freedomz/Shutterstock.

The National Association of Commercial Finance Brokers (NACFB) has announced that it is set to conduct its 2500th review of a commercial finance brokerage.  

Independent broker-led trade body NACFB said this development underscores the increasing commitment within the sector to uphold professional standards and regulatory compliance. 

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As of earlier this year, the trade body had 2,436 individual broker members.  

The NACFB is now preparing to extend invitations to more commercial brokers.  

Last year, its Minimum Standards Review became the Assurance Consultation process, enabling NACFB members to share their status with third parties.  

Lynda Bradbury, operations director of asset finance broker TAFCO, said: “Completing the NACFB Assurance process, with strong support from the trade body, has boosted my confidence in dealing with regulations, enhanced my grasp of our duties, and empowered me to proudly present our certification.  

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“In an era where the asset finance community faces intense scrutiny, this distinction underscores our unwavering commitment to excellence, and helps set us apart in the eyes of both our clients and lenders.” 

NACFB head of compliance James Hinch said: “Building upon the best part of a decade’s worth of insight, experience, and relationships, the NACFB approaches this significant milestone unwilling to rest on our laurels. We remain dedicated to championing higher standards and are already preparing for the next 2,500 reviews to further empower the broker community.” 

In a recent survey, the NACFB revealed that commercial finance brokers played a key role in securing £38bn in lending for SMEs last year.  

Despite a 16% decrease from the £45bn peak in 2022, brokers have navigated the challenging economic landscape and the reduced appetite for lending.