17 banks and lenders pledge Brexit support for SMEs
By Sam MonkBanks and specialist lenders have reaffirmed their pledge to support SMEs ahead of Brexit with commitments under the new SME Finance Charter
Section: Economy
The charter consists of five pledges and also provides a framework for the signatories to set out their specific commitments to SMEs.
Aldermore, Bank of Ireland, Bank of Scotland, Barclays UK, Bibby Financial Services (BFS), Close Brothers, CYBG, Funding Circle, HSBC, Lloyds Bank, NatWest, RBS, Santander UK, Secure Trust Bank, Simply Finance, Ulster Bank and Ultimate Finance have all become signatories to the charter.
“We set up the Business Finance Council to give SMEs the right tools and advice on the finance options available to them,” said Andrea Leadsom, business secretary of state.
“Knowing that 17 of our banks and lenders have committed to standing behind our brilliant British businesses gives me great confidence, and I encourage others to follow suit to set out their own commitments, too.”
John Glen, economic secretary to the treasurer, stated that small businesses were the “backbone of the economy”.
“It’s great to see financial providers coming together today to set out how they will support these businesses and I call on others to follow.”
Keywords: banking, specialist banks, specialist lenders, lending market, Brexit, Brexit finance, financial services, SMEs, SME, SME finance, SME funding, funding