JLG Group PLC – the parent company of Just Cash Flow PLC – has become an associate member of the All-Party Parliamentary Group (APPG) on fair business banking.
Commenting on this announcement, John Davies, CEO at JLG Group (pictured above), said that it felt it was very important that this cross-party group – with members from both the House of Commons and House of Lords – understood the views of alternative lenders.
“Since the 2008 financial crisis, a varied and vibrant alternative lending sector has been established, bringing new solutions and products to embryonic and developing SMEs that are often underserved by the traditional banks.
“Alternative lenders support businesses at different stages of their development, so it is important their experience of dealing with SMEs is leveraged and all parties understand the challenges faced by both funders and borrowers alike.
“We have been particularly impressed with the APPG's efforts to create an accessible, affordable and timely dispute resolution mechanism for businesses and we support their range of future initiatives.”
Heather Buchanan, director of policy for the APPG said it was pleased to have the support of JLG Group.
“The APPG is a forum for consultation that brings together all stakeholders committed to levelling the playing field between lenders and borrowers.
“In this process, it is imperative that we take representations from the alternative lending market and we therefore welcome the opportunity for JLG Group and John to support our work at this crucial time.”
John – who is also chairman of the Association of Alternative Business Finance (AABF) – concluded: “It is no coincidence that I feel it is important to support the APPG's work as 'fairness' is one of the AABF's four key operating principles and we have the shared aim of wanting to promote the best standards of industry practice."
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Shawbrook provides £5.4m facility to fund leisure park purchase
Shawbrook Bank has provided a £5.4m facility to Blue Sky Resorts to fund the purchase of the Spring Willows Leisure Park in Scarborough from the latter’s former landlord...
Tandem to launch financial education programme for young people
Tandem Bank has partnered with social mobility charity Brightside to launch Money Hacks — a dedicated financial education programme — in a local school...
Revolut launches savings platform for friends and family
Revolut has launched Group Vaults, a platform that enables customers to save with family and friends towards a common goal...
TSB announces two leadership appointments
TSB has appointed Robin Bulloch as customer banking director (pictured above) and Suresh Viswanathan as chief operating officer...
Industry reacts to Tesco Bank exiting mortgage market
Tesco Bank announced yesterday (21st May) that it had ceased new mortgage lending...
YellowDog names new CCO amid plans to enter financial services market
YellowDog has named James Stevens as its new chief commercial officer as part of its plans to enter the financial services market in the UK, US and Europe...
Is the UK punching beneath its weight when it comes to fintech?
The UK, and London in particular, has established itself as the world’s most important hub for fintech and an incubator of ideas, talent and capital. We must, therefore, ensure it retains its pre-eminence regardless of what Brexit brings...
Arbuthnot Commercial ABL funds MBI of Bornmore Metals
Arbuthnot Commercial ABL has funded the management buy-in (MBI) of non-ferrous metal stockholder Bornmore Metals...
Tesco Bank ceases new mortgage lending
Tesco Bank has announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio...
Aldermore grows from 30 to over 1,000 employees since launch
Aldermore has reached its 10-year banking milestone...
Charity Bank reports 43% lending surge in 2018
Charity Bank has revealed that it provided £48.6m to charities and social enterprises in 2018...