Business lenders Ultimate Finance and Bibby Financial Services (BFS) has announced its support for the Business Finance Council’s SME Finance Charter, in a bid to improve access to finance and help for businesses during Brexit and beyond.
The Charter provides a framework for financiers to outline specific commitments to SMEs in relation to preparing for Brexit and was adopted at the Business Finance Council’s first meeting on 9 October. The Business Finance Council is co-chaired by Business Secretary, Andrew Leadsom and Economic Secretary to the Treasury, John Glen.
The Charter consists of 5 commitments that reflect the areas that government, finance providers and businesses have identified as significant in ensuring that the SME market works effectively.
Small Business Minister Kelly Tolhurst said: “Financial support from banks and lenders is often crucial to the success of an SME. So it is great to see Bibby Financial Services reaffirming support for their business customers through our new SME Finance Charter.”
Edward Winterton, UK Chief Executive at BFS commented: “We recognise the importance of helping our clients and other SMEs to prepare for Brexit, which is why we have signed-up to the SME Finance Charter.”
“We’ve supported UK businesses for more than 35 years and are committed to continuing this support by helping them to access the funding they need and through additional support services, throughout Brexit and beyond.”
Josh Levy, CEO of Ultimate Finance, said: “We are proud to have signed the SME Finance Charter to affirm our unwavering commitment UK SMEs across the country. Ultimate Finance is committed to supporting and facilitating businesses’ growth ambitions in all market conditions. We tailor our funding by looking at the bigger picture to find the right solution at the right time – an approach that’s integral in the current uncertain context.”
“Whatever happens to the UK economy and the terms of our departure from the EU, it’s certain that the country needs SMEs to continue to be as ambitious, flexible and resilient as before, and with the right funding and non-financial support that we will continue to provide, we have no doubt that businesses will rise to this, through Brexit and beyond.”
Lits of lenders signed up to SME Charter:
- Bank of Ireland
- Barclays UK
- Bibby Financial Services
- Close Brothers
- Funding Circle
- Lloyds Banking Group
- RBS / NatWest
- Santander UK
- Secure Trust Bank
- Simply Finance
- Ultimate Finance