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The Standards for business customers
FCA confirms recognition for the LSB’s update to Standards for CBILS and BBLS lending
The FCA has confirmed that the formal recognition of the Standards of Lending Practice for business customers has been maintained and that recognition now covers the updates to the Standards issued by the LSB to take account of the Government’s new coronavirus lending schemes.
Coronavirus; working through it
In response to the coronavirus pandemic, Insight & Support published a series of thought pieces focusing on authorised push payment (APP) scams, vulnerability, and SME financial difficulty.
Response to the launch of Bounce Back Loan Scheme (BBLS)
The LSB supports the steps taken to assist business customers experiencing disruption caused by the coronavirus pandemic.
Response to the Chancellor’s announcement of changes to the Coronavirus Business Interruption Loans Scheme (CBILS)
The LSB welcomes the changes HM Treasury has announced to the CBILS to support the swift provision of finance to SMEs and the launch of the Bounce Back Loan scheme (BBL).
Themed review: Financial difficulties – Standards of Lending Practice for business customers
We have published a summary report of the financial difficulties themed review for the Standards of Lending Practice for business customers.
The Standards of Lending Practice are a FCA-recognised industry code
We are pleased to announce that the Standards of Lending Practice for business customers are now a FCA-recognised industry code.
Standards of Lending Practice for business customers extended to protect businesses with £25m turnover
The Standards turnover threshold has been uplifted to £25m, with new Standards focussing on the treatment of businesses in support units, and debt sale.
LSB statement on TSB’s business Lending Pledge
The LSB welcomes the publication of TSB’s business Lending Pledge and are supportive of the continued industry focus upon the fair treatment of businesses in financial difficulty.