If you’re looking for SMB funding, you’re not alone. A new report from Simply Business has shown that 1 in 3 small business owners in the UK fears running out of money. Not only that, but a staggering 87 per cent of small business owners have lost money over the last two years. With many still under great financial strain.
When searching for funding options, it’s crucial to work collaboratively with brokers.
Why? In a nutshell, brokers play a valuable role in helping SMBs source the right financial support for their business. This is because most business owners are so busy running their business that they simply don’t have the time to research and assess potential funding options. This is where brokers can come in and provide immediate value.
With years (or decades) of experience in the market, brokers can quickly help SMBs identify suitable lenders and land great deals in terms of rates, fees, and repayment amounts. Their professional input can help save business owners precious time and money by performing much of the legwork. Not only do brokers have access to a variety of lenders, but they can also tell which options are the most suitable for you and your requirements. Ultimately, providing much needed financial advice.
The importance of brokers for Accelerated Payments
Working closely with brokers to provide working capital to SMBs is something we deeply value as a financing provider. Accelerated Payments (AP) is a member of the National Association of Commercial Finance Brokers (NACFB). The NACFB is the UK’s largest independent trade body for commercial finance brokers. Last year, NACFB Members helped to facilitate £40.9 billion of SMB funding and are a key resource for helping small businesses to not only survive but also grow, especially in turbulent times.
AP takes pride in being a valuable partner for brokers and have ranked fifth in Business Money’s Receivables 2021 Intermediary Index, an industry review of the UK receivables finance sector. Experienced commercial finance brokers evaluate how receivables financiers around the UK respond to and manage client needs, the appraisal process, and the ongoing relationship.
Recently, AP hosted our own broker event in Dublin. It was a very successful event, hosting our valued brokers who got to experience some of what Ireland has to offer, while also creating an opportunity for brokers to network with one another. We see this as just the beginning of a new chapter in our ongoing relationship with brokers. Not just locally, but around the world – working with brokers and introducers in Ireland, the UK, Canada and the US.
Accelerated Payments are proud to be helping SMBs through one of the most challenging business environments in history. Together, we can help rebuild economies and inject much needed working capital in a post-Covid world – one business at a time.
Interested in becoming a broker / referral partner with Accelerated Payments? Read more here.
