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
CivilisedBank changes name
CivilisedBank has announced that it has changed its name to Allica as it prepares to launch...
Gatehouse Bank closes £100m of commercial property finance
Gatehouse Bank’s commercial real estate team has completed £100m of finance for the first time this year...
Revolut granted European banking licence
Revolut has announced that it has secured its European banking licence...
Starling hires head of SME banking
Starling Bank has announced the appointment of Stuart Doignie as its head of SME banking...
Local brewery secures backing from Development Bank of Wales
The Development Bank of Wales has part-funded a £134,000 capital investment project by Wild Horse Brewing Company...
Metro Bank adds international payments to mobile app
Metro Bank has enhanced its mobile app with the introduction of international payments for its personal and business customers...
How digital technology can help high street banks innovate
As society moves more and more towards a digital future, the closure of retail bank and building society branches is anticipated to accelerate...
Mortgage Industry Collective releases charity single
A group of mortgage professionals have collaborated to release a Christmas charity single to raise money for End Youth Homelessness...
City of London Group appoints first NED for Recognise
City of London Group PLC (COLG) has named Simon Wainwright (pictured above) as the first non-executive director for its subsidiary Recognise Financial Services...
BBB names network director for North and Midlands
The British Business Bank (BBB) has appointed Geoff Whiteland as its new UK network director for the North of England and the Midlands...
Wyelands Bank completes ABL deal for stainless steel supplier
Wyelands Bank has completed a seven-figure, asset-based lending deal for AD Bird Stainless Limited...