The National Association of Equipment Leasing Brokers (NAELB) has rebranded and has changed its name to the American Association of Commercial Finance Brokers (AACFB) to meet the demands of the evolving marketplace and membership.
The move signals the association’s desire to become more inclusive. The AACFB now welcomes all commercial finance brokers, whereas the NAELB was strictly for equipment leasing brokers.
AACFB said the decision was driven by new finance regulations, the growth of funding products, and new technology solutions. This meant the products and services supported needed to change as well, so instead of only supporting equipment leasing and financing, the AACFB has opened its doors to alternative finance products, including factoring, working capital, SBA lending, and trade finance.
The newly-launched ACFB is expanding in-person networking opportunities by adding the inaugural 2018 Commercial Financing Expo, which will be held in September in Dallas, providing a forum for discussion and relationship building.
AACFB member benefits include 24/7 access to funding sources, a members-only online forum community, and certifications in best practice and ethics. The association’s director-at-large, Cindy Downs, will lead the overhaul of the organization’s educational resources, as well as the mentorship and distance-learning programs.
The NAELB was founded by a group of equipment leasing brokers in 1990 and over the next 25 years grew to more than 400 members, including brokers, funding sources and associates. It was also responsible for the development of an industry code of ethics.
Former NAELB President Rodney Blecha said: “Now, we embrace a new vision together as the American Association of Commercial Finance Brokers. We look forward to the next chapter of brokers supporting brokers for the good of all its members for another 25-plus years and beyond.”