Base’s comments come in response to growing concern that some commercial finance lenders are turning their backs on intermediaries, a concern which has been fuelled by some lenders deciding to stop paying commission on introduced business and by a noticeable absence of lenders at a recent trade show.
Paul Marland, sales & marketing director at Base, explained: “It’s a worrying time for intermediaries, especially when they see their potential source of income being withdrawn. However, I would like to reassure brokers that there will always be lenders, like Base, who are 100% committed to the intermediary channel and we will continue to support brokers with high quality service and competitive commission payments.
“We are as dependent on intermediaries as intermediaries are dependant upon us. This is a time for mutually supporting each other.”
Base has continued to lend throughout the credit crunch and has adequate funding in place to satisfy its needs for the foreseeable future. The company also says that in most instances it is able to provide brokers with a credit searched decision in principle within 4 hours of receiving a completed Base application form.
Adam Tyler, Chief Executive of the NACFB, recently commented: “Commercial lenders are still committed to the broker market and, if anything, are as keen now as they were twelve months ago to secure their share of broker introduced business…many lenders are still keen to work with brokers.”
