Who will be named AFC’s asset finance provider of the year 2024?

Recognising excellence in the asset finance industry, the AFC Asset Finance Provider of the Year Award at the 2024 AFC Summer Awards, sponsored by LTi Technology Solutions, will be awarded to a market leading asset finance organisation or broker that delivers all-round exceptional value to its customers, industry partners, workforce, investors and/or the broader communities and environment in which it operates.

Celebrating excellence across the asset, auto and equipment finance industries, the AFC Summer Awards will be held on 9th July 2024 at City Central set within the Grounds of the Honourable Artillery Company in London, book your table now.

Do you know an asset finance organisation with a strong entrepreneurial culture which is innovative, ambitious and which embodies all that is best about the UK asset finance industry? Nominate them today! Submit your entry before the 3rd May closing date.

One of the nominations for this year’s AFC Asset Finance Provider of the Year is Compass Business Finance, an independent finance company with an innovative and relational approach to the market. It brings a unique offering to the market, operating a three-way hybrid broker-lender model: take broker business in, have a direct sales force, and broker business out.

The model represents a desirable place for Compass to be in the current market and has held them in good stead in the past 19 years. “Small enough to adopt the model and large enough to make an impact,” says Compass director Mark Nelson. “We like the way we can service our customer base by operating from that model. And we have some very, very good funder relationships through that model as well.”

Choosing to specialise in print & packaging, manufacturing & engineering, construction, professional services and renewable energy, its teams have successful relationships with a variety of funders, enabling them to structure financial solutions that are both flexible, competitive and appealing to customers.

A key focus is on developing staff and strengthening partnerships with funders, brokers and equipment suppliers, whilst pushing forward into new market segments. Compass’ flexible approach and client-centric focus have positioned it as a go-to financial partner for SMEs across various industries and projects.

Working with a wide range of companies, the Tonbridge, Kent-based company helps its clients navigate the sometimes-complex financial decision-making landscape. Compass is committed to providing a consistent service and complete peace of mind, through ongoing business relationships.

Compass Business Finance has developed a culture that continues to enhance and expand its business, particularly when new opportunities present themselves in the market. Over the past 18 months it has put in some important building blocks – including some key staff appointments as well as creating a dedicated business support team – to lay the foundations for the next important stage of business growth.

Employing 24 staff and with a turnover of £8.3million, Compass has seen year-on-year growth since it was established in 2005, by brothers Mark and Jamie Nelson, who are both directors. David Bunker is the third director of Compass, having bought into the business in 2018.

Its people are everything to Compass. Every team member is encouraged to have their say by coming up with new ideas to help deliver an entrepreneurial and innovative culture for the company.

“All the way through the business we actively seek people to carve a view, come up with ideas and ways of doing things to improve the business,” said Mark Nelson. “Although we can’t implement every suggestion, we listen and actively engage to understand what changes may need to take place. We’ve always been strong in encouraging people to come forward and say, “have you thought of this?”

The fun part and culture running through Compass also extends to the broader communities and environment in which it operates. There is active team participation in local charity events, summer barbecues and other social events all helping to build the unique team ethos within Compass. Team spirit will also be enhanced with a trip to Paris this October as a way of saying ‘thank you’ to staff for their loyalty and for helping the business to grow.

“We are incredibly proud of the company culture, where we put the customer at the forefront of all we do,” concludes Mark Nelson.

To see a full list of the award categories and individual awards, visit Asset Finance Connect’s Summer Awards website, where organisations can add their nominations for award winners by 3rd May and book their tables for this year’s must-attend event.

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