As this means that in effect the proposal is through to the final round of applications, the NACFB says it 'stand(s) to play a major part in helping SMEs across the UK find funding'.
Its current findSMEfinance.co.uk website is averages £1.2 million in leads per day and is supported by a large proportion of the body's 1500 commercial finance brokers.
The NACFB said:
"The British Business Bank’s 2014 report found that two thirds of SMEs only go to one provider when seeking finance and 38% cancel their spending plans if their first approach is rejected. With 125 funders working with us, the NACFB is ideally placed to change that statistic and to send out the message that funding is available. Ours is a unique platform that uses Commercial Finance Brokers to help UK Businesses find the correct source of funding from the myriad of lenders in the business lending market.
"To grasp this opportunity fully, we need the broad reach of the Government and the British Business Bank. For their part, they have viewed the Association as a fully credible resource for British business for several years now and this is the next step in raising the profile of our members nationwide as well as helping SMEs prosper."
