The Lending Standards Board (LSB) has announced that commercial debt solutions provider, Azzurro Associates (Azzurro), has become a registered firm with the LSB‘s Standards of Lending Practice for business customers.
Azzurro provides liquidity options to the commercial credit sector and is the custodian of a large inventory of business debts. Achieving full registration signals their commitment to driving fair outcomes for their customers.
With the UK economy starting to recover some of its losses from the Covid-19 crisis, the long-term impacts of the pandemic are going to affect businesses for years to come. And with public sector support for businesses in the form of the Recovery Loan Scheme set to end in June 2022, there has never been a more important time for firms to commit to ensuring good outcomes for their business customers.
Andrew Birkwood, CEO at Azzurro Associates, says this is an important milestone: “The LSB’s mission to drive fair customer outcomes in financial services, and our commitment to meeting the needs of our clients’ business customers, go hand-in-hand.
“As the first commercial debt solutions business to receive full registration to the Standards of Lending Practice, this announcement evidences our commitment to raise the bar for effective credit management within the commercial debt industry.”
Emma Lovell, Chief Executive at the LSB added: “The Standards of Lending Practice for business customers set the benchmark for good lending practice in the UK as well as providing firms with the tools they need to support customers who find themselves in financial difficulty, which is particularly important during these challenging times. We are delighted to have Azzurro Associates on board as the first commercial debt firm to achieve full registration to the Standards of Lending Practice for business customers.”
If you’d be interested in signing up to the LSB’s Standards of Lending Practice for business customers, please read here for further information.