Following the recommendation in Professor Russel Griggs’ report that a separate Code covering lending to SMEs should be developed and support in the FCA’s recent Discussion Paper on the same subject, the LSB has set up a working group of industry specialists in this area to help develop a set of Standards covering lending to SMEs up to £6.5m turnover. Working closely with the BBA and its Corporate Committee, and consulting with other key stakeholders such as small business trade bodies, we hope to launch the new Standards of Lending Practice for SMEs in January 2017.

Keep checking this website for updates on progress.