The Cumberland Building Society has become a patron of the National Association of Commercial Finance Brokers.
The society said its patronage was a bid to strengthen its support for hospitality business owners and marked a significant step forward for both organisations as they aim to provide enhanced financial services to businesses in the UK’s hospitality sector.
Combining the skills and know-how of the NACFB’s member brokers with The Cumberland’s extensive industry knowledge and expertise, the tie-in will support hospitality businesses with their commercial borrowing needs, they said.
Patronage will also see The Cumberland offer commercial lending of up to a £5 million to the NACFB’s brokers’ clients in the hospitality space.
Alasdair Swan, senior commercial manager at The Cumberland, said: “This is an exciting time for The Cumberland, and we’re looking forward to making new connections with brokers and supporting business owners with their commercial finance ambitions.
“By leveraging the expertise and resources of the NACFB and its member brokers we can provide room-led hospitality businesses across the UK with support, not just with their financial needs, but with advice and solutions through the good times and the bad.
Established in 1992, the NACFB is the UK’s largest trade association for commercial finance brokers in the UK. Servicing the funding needs of small business borrowers and property investors, in 2023 its Members facilitated £38 billion of finance.
Norman Chambers, managing director, NACFB, said: “When it comes to lending in the hospitality space, The Cumberland has a reputation that is second to none, so we are thrilled to welcome them into our network.
“This collaboration reflects our shared commitment of seeing businesses thrive in the UK. We are certain that our member brokers will find The Cumberland’s approach a breath of fresh air as they look to manage their clients at a time that can often be stressful for them.
“Together, we’re looking forward to empowering hospitality businesses with the financial resources and guidance they need to succeed.”
