Compass Business Finance has reaffirmed its support to smaller businesses in print and other sectors by signing up to the new SME Finance Charter, a series of pledges set out by the Business Finance Council.
The Business Finance Council is jointly chaired by the BEIS Secretary of State, the Economic Secretary to the Treasury and the Minister for Small Business, Consumers and Labour Markets. Its members include major high street lenders and providers of alternative finance, UK Finance and the Finance and Leasing Association, the British Business Bank and business representative organisations.
The Council collaborated with finance providers, business organisations and government to identify areas that are significant in ensuring that the SME finance market works effectively, drawing up five high-level commitments from these.
The five pledges in the Charter, to which Compass has detailed its specific commitment, are:
• We’re open for business and ready to lend
• We’ll help you build back better after Covid-19
• We’ll support your application and signpost other options if needed
• We’ll treat you fairly at all times
• We’ll work with the government-owned British Business Bank to support SMEs.
Mark Nelson, director of Compass, commented, ‘Working in collaboration with the government and other finance providers is key to being able to offer the best possible support to the market. Signing up to the Charter reaffirms the commitment we have to our customers, to always do our best for them.’
