According to HM Treasury, banks and alternative lenders have “reaffirmed their pledge to support British SMEs ahead of Brexit.”
The commitments have been outlined in the SME Finance Charter.
The Charter, which is a voluntary agreement, covers; loans and overdrafts, asset financing, stock lending and invoice finance.
Economic Secretary to the Treasury John Glen commented on the Charter:
“Our brilliant small businesses are the backbone of the economy and we will make sure they get the finance they need to continue growing, creating jobs and boosting our economy. It’s great to see financial providers coming together today to set out how they will support these businesses.”
Glen called on others to follow this lead.
The signatories of the Charter currently include:
- Aldermore
- Bank of Ireland
- Bank of Scotland
- Barclays UK
- Bibby Financial Services
- Close Brothers
- CYBG
- Funding Circle
- HSBC
- Lloyds Bank
- NatWest
- RBS
- Santander UK
- Secure Trust Bank
- Simply Finance
- Ulster Bank
- Ultimate Finance