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Commercial market
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finance is still largely, dead in the water. There are putting a deal together from start to finish and training and development is a good way of
a couple of funders who will consider highlight what funders are looking fro when fulfilling that.
development deals, but in many cases either assessing an invoice finance deal.
commercial or residential property development Marketing!
is a leap too far in terms of risk for many lenders. CPD I know - the first thing to go in a down turn is
Calls are received at the NACFB office on an Continuing professional development should the marketing budget. But it’s worthwhile setting
almost daily basis asking if there are any funders come as second nature to most and, as an a little aside now (if it’s at all possible) to make a
who will consider this kind of deal and, if the Association with its own CPD programme, one big splash when things start to make a recovery.
proposition has been turned down by the two of the key challenges for us is not so much It’s a harsh fact, but for brokers who have
funders who will at least think about it, then the getting members to complete CDP activity, but managed to make it through, competition is
answer is invariably ‘no’. getting them to let us know about it! There are thinner on the ground than it used to be. And so
One of the few areas where funding is still courses and events run by the Association and for those who are in a position to start
available is the invoice finance sector. This is a various other trade bodies and other industry marketing, the field should be much clearer,
specialist market and requires specialist organisations which allow you keep ahead of the allowing you to make more of an immediate
knowledge, but it does offer a good fit with many game. Reading the trade press is one of the best impact.
commercial brokers’ existing product range and ways to keep up to date with the changes both in The only other thing any of us can do is to sit
client base. The problem is that it is a specialist the market and in legislation and forewarned is tight. It will get better! I have spoken to many of
market and it’s not always as easy to put together fore armed. our members who remember the last recession,
a deal as you might think. ABFA, the trade body One thing which is seldom articulated is that and although the challenges are different this
for factors and invoice discounters (the funders despite all the problems faced by the market at time around, there are still similarities. Funders
themselves, rather than brokers), run excellent the moment, there is little doubt that the issues withdrew from the broker market, only to return
training days and courses throughout the year although extremely painful, are just temporary. when competition led them to look for a way of
for industry professionals. To help novice brokers No one I have spoken to has ever suggested that increasing their market share without a huge
come up to speed, we will be running an things will not improve in time. The problem for increase in costs. When things improve (as they
introduction to invoice finance training event many is simply surviving until it does. But for undoubtedly will) they will be different. But no
ourselves, aimed at brokers looking to expand those who do survive, being in the best possible matter how different the new market may be,
their horizons. Kindly sponsored by award position when the market does return is an brokers will continue to offer an essential service
winning factors, Bibby, the day will look at excellent strategy and keeping up to date with to their business clients.
www.mortgageintroducer.com February 2010 Mortgage Introducer
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