The association welcomed three new members to the board:  Adrian Coles responsible for Training and Education, John Phillips overseeing membership and growth followed by Lucy Hodge maintaining the association’s PR and Marketing. The new members were elected via nominations.

The positions became vacant because two board members had fulfilled their two year terms and one other member stepped down.

The meeting welcomed current NACFB director Paul Goodman as the new Finance Director, who took questions from the floor.

At the meeting it was proposed that full membership fees for would increase by £20, from £350 to £370 per annum.

 It was also unveiled that at Octobers’ Board of Director’s meeting, it was agreed that Adam Tyler would be receiving a Deputy in the near future to compliment his role as Chief Executive.

The AGM revealed the main types of complaints the NACFB received were linked with commercial mortgages fees. The second biggest category for complaints was asset finance.

 As NACFB Chairman of 2013 and 2014, Marcus Grimshaw provided the opening speech. He said: “We need to make sure that we are side by side next to each other. Both celebrating the amount of opportunity we have in front of us, but also making sure that together we stay strong and we stay united when we face the more difficult challenges we have ahead of us. “

While commenting on 2014’s approaching regulation from the Financial Conduct Authority, Marcus added: “If you haven’t grasped, it’s the most important thing the NACFB have faced in many many years and it will change the way the association has to behave.”

Green cards were given to full members to vote and associate members or patrons can’t vote. Chartered Accountants, Milsted Langdon were voted as the auditors of 2014.

The AGM also asked brokers to register for the NACFB’s Small Business Finance Directory to assist in the system’s development. The system allows small businesses to source a local broker from the association via an online form.

 A collection of four or five bodies are keen on launching with the tool, which include the Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants In England and Wales (ICAEW).

The NACFB only wants to unveil the tool to possible participants once testing has been completed.

Figures from the association’s annual survey were mentioned at the meeting. Total funding for small business from the NACFB members is at a five year high. There was a 17 per cent increase from 2012 to 2013, causing the total to rest at £10.5 billion.

In response to previous demand, this year’s AGM featured a Chief Economist, Lee Hopley from EEF The Manufacturer’s Organisation, who gave her assessments on the economy and her forecasts for the oncoming year.  

The Annual General Meeting took place at Olympia Central on the 6th of November.

While commenting on the FP Show, Adam Tyler said: “The Show has been a real success. It’s the first time that so many lenders have been in one room in London since 2007. It was great to also have our Annual General Meeting at the Show also and everyone really enjoyed it.”