Ipsum Capital becomes the latest firm to achieve full registration to the LSB’s business Standards

London, 4 June 2024: Ipsum Holdings Limited (Ipsum Capital) has become the latest financial services provider to move into full registration to the Standards of Lending Practice for business customers, signalling its commitment to delivering good outcomes for SMEs.

The business Standards, overseen by the Lending Standards Board (LSB), set the best practice benchmark for SME lending in the UK, and are the only lending protections of their kind for many UK SMEs. The Standards are formally recognised and endorsed by the Financial Conduct Authority because of the absence of alternative regulatory protections for SME finance.

Ipsum Capital works in partnership with SMEs across the UK, providing liquidity solutions to commercial lenders through the purchase of non-performing loan portfolios. It also serves as a custodian of commercial mortgages and loans to UK SMEs.

Ipsum’s full registration to the business Standards follows a 15-month interim registration process, during which the firm worked closely with the LSB to meet the requirements for full registration. Today’s move to full registration signals Ipsum’s commitment to the highest standard of treatment for its SME customers amid a challenging economic climate.

Richard Marlow, Director at Ipsum Capital, comments: “We have always prided ourselves on attaining the highest standards and delivering the best possible outcomes for our customers, so achieving full registration to the LSB’s business Standards was a natural next step for Ipsum Capital.

“The path to registration was a thought-provoking period which galvanised our management team and led to our policies and processes being examined, re-engineered where necessary, and fully documented so we could achieve the best practice model.

“We are passionate about supporting our business customers and offering the fairest outcomes in what is a particularly difficult time for many SMEs in the UK. Our adherence to the Standards provides our SME customers with material assurance of our ability to achieve the right outcomes for them.”

Emma Lovell, LSB Chief Execuitve, says: “The business Standards play an unmatched role in extending protections to the UK’s vital SME community who would otherwise be at increased risk of harm when using financial products and services. The are the only regulatory protections available for many SMEs.

“SMEs should always check their finance provider is LSB registered if they want to make sure they have access to independent lending protections.”

Approximately 2.5mn businesses (with revenues up to £25mn) plan to borrow more than £25k in the next 12 months. These businesses won’t be protected by the FCA, but will be covered by the business Standards if their financial services provider is registered.

According to the latest British Business Bank and Bank of England data, challenger and specialist banks accounted for 59% of total gross SME lending in 2023 – the third consecutive year in which challenger and specialist banks’ lending share exceeded that of the big five banks.

More information on the Standards can be found here.

Have some thoughts on this subject?

Click here to continue the conversation on email

Registering with the LSB signals a commitment to deliver the highest standards of customer treatment.

Find out more about registering.

Related Stories