FUNDING Circle has signed the government’s SME Finance Charter, a new government initiative aimed at supporting small- and medium-sized enterprises (SMEs) in the UK.
The SME Finance Charter was established by the British Finance Council earlier this year. It asks finance providers to commit to helping small businesses survive through Brexit and beyond.
“We’re excited to sign-up to the government’s SME Finance Charter,” said Lisa Jacobs, UK managing director of Funding Circle. “No matter the terms on which the UK leaves the EU, Funding Circle will remain open for business. We have investors who are ready to lend to small businesses across all corners of the UK.”
The Charter calls for finance providers to state that they are open for business and ready to lend. Funding Circle commented that it purely does small business loans and says ‘yes’ to a business every five minutes.
The companies which sign the charter must also commit to helping small businesses to prepare for Brexit, to support their loan applications and suggest other options if needed, to treat customers fairly and to work with the government-owned British Business Bank to support SMEs.
“Financial support from lenders is often crucial to the success of an SME. So it is great to see Funding Circle reaffirming support for their business customers through our new SME Finance Charter,” said small business minister Kelly Tolhurst.
“Funding Circle’s commitments of continued and proactive support will give their SME customers the confidence they need ahead of Brexit on 31 October and beyond with opportunities to thrive, grow and scale up in new markets.”