The bank isn’t the market – it’s part of the market
For most UK business owners, the instinct when they need finance is to call their bank. It’s familiar. But familiar isn’t always best.
When you approach your bank directly, you’re choosing from one set of products assessed against one set of criteria. If your business doesn’t fit – specialist sector, shorter trading history, unusual asset – the answer is no, with no obvious next step.
The UK lending landscape has changed significantly. In 2014, the four largest high street banks accounted for over 80% of SME lending. By 2025 that figure had shifted dramatically, with challenger and specialist banks now accounting for around 60% of all business lending. More competition, more options, more chance of finding terms that actually work for your cash flow – but only if you’re looking across the whole market.
What a broker actually does
A commercial finance broker doesn’t lend money. They understand your situation and go to a panel of lenders to find the right match – knowing which lenders are active in your sector, which have appetite for your deal size, and how to structure an application properly.
The numbers make the case. NACFB data shows that in 2025, its broker members arranged £33 billion in SME lending, considering an average of six lenders per deal. One in four clients had already been declined elsewhere before being successfully funded through a broker.
Being declined by your bank is not the same as being declined by the market.
Asset finance in particular
Asset finance has an approval rate of around 96% when applications are structured correctly – compared to 44% for standard bank loans. Different lenders also have very different sector strengths. A broker who works across them every day knows who is best placed for your specific requirement.
If you only ever ask one lender, you only ever know what one lender can offer.
We’re always happy to have a straightforward conversation. Call 01634 386869 or visit firstbusinessgroup.co.uk.