Ethical lenders call for Government to continue to support responsible finance to drive growth and prosperity in Britain
Responsible loans
SIR – Every day many businesses, from small fashion designers to solar panel manufacturers, are being denied bank loans, because they do not meet the requirements of their bank’s algorithm. We are in danger of losing a generation of entrepreneurs who cannot access the right finance.
It is not just businesses that are being affected by the lack of choice and an impersonal service; families are still turning to expensive payday loans to buy essentials, often getting sucked into a cycle of unsustainable debt.
Responsible finance providers make ethical loans and give face-to-face support and advice. This year alone, they have helped 11,500 businesses to start and grow, creating 4 per cent of Britain’s total new jobs for the year. They have also helped 45,000 people avoid payday lenders.
For the past 15 years, this sector has helped the Government to reach those businesses and people who were turned down by their bank, but were viable customers. However, the removal of government investment has now put these services at risk.
The Government must ensure that responsible finance can continue to drive growth and prosperity in Britain.
Ben Hughes
Chief Executive, Responsible Finance
Katy Ford
Chief Executive, Foundation East
Paul Kalinauckas
Chief Executive, BCRS Business Loans
Edward Siegel
Director of Investments, Big Issue Invest
Stephen Waud
Chief Executive, Business Enterprise Fund
Paul Breen
Director, Business Finance Solutions
Peter Sykes
Chief Executive, Chamber Acorn Fund (Humber)
Mike Musson
Chief Executive, Coventry and Warwickshire Reinvestment Trust
Sandra McLean
Fund Manager, DSL Business Finance
Grahame Latus
Chief Executive, Enterprise Answers
Stephen Edwards
Financial Controller, Enterprise Northern Ireland
Jonathan Diggines
Chief Executive, Enterprise Ventures
Arthur Foreman
Managing Director, Finance for Enterprise
Peter Lovell
Chief Executive, Financing Enterprise
Quamar Zaman
Chief Executive, First Enterprise Business Agency
Graeme Oram
Chief Executive, Five Lamps
Katy Ford
Chief Executive, Foundation East
Nicholas Nicolaou
Managing Director, GLE oneLondon
Stacey Howard
Operations Director, Goole Development Trust
Steve Williams
Loan Fund Manager, Impetus
Elaine Rimmer
Manager, Lancashire Community Finance
Graham Marley
Chief Executive, Let’s Do Business Group
Melanie Elliot
Chief Executive, MCF Group
Karen Davies
Chief Executive, Purple Shoots
Michael Brown
Chief Executive, Robert Owen Community Banking
Sharon MacPherson
Chief Executive, Scotcash
Alan Gordon-Freeman
Chief Executive, Sirius
Alastair Davis
Chief Executive, Social Investment Scotland
John Peters
Managing Director, Southwest Investment Group Services
Harry McDaid
Chief Executive, Ulster Community Investment Trust
Patrick Crawford
Chief Executive, Charity Bank