The Cumberland Building Society has become a patron of the National Association of Commercial Finance Brokers (NACFB) to strengthen its support for hospitality business owners.
The Society takes pride in offering expert, relationship-focused services tailored to support providers of room-led accommodation. The Cumberland specialises in mortgages for a variety of businesses, including hotels, serviced apartments, hostels, bunkhouses, B&Bs, restaurants and pubs with rooms, holiday lets, and lodge parks. Its primary focus is on properties located in the northeast and northwest of England, as well as Scotland.
Patronage marks 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.
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.
Speaking about the announcement, 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.”
Holding more than 20 years’ experience in lending to the hospitality industry, The Cumberland will provide a unique offering to the NACFB’s members through its Kinder Banking purpose.
The Cumberland’s Kinder Banking ethos sees the building society place an onus on doing right by its customers to build a sustainable future based on more than just money.
As part of its Kinder Banking purpose, The Cumberland assigns designated relationship managers, who will help clients navigate the lending process with in-person support, to each case.
Focusing on people, planet, and community, The Cumberland delivers banking that welcomes and respects each customer’s needs, nurtures the planet, and builds stronger communities now and in the future.
To find out more about how The Cumberland could help your business, please click here.
To find out more about NACFB, please click here.