Lenders agree to new code to protect small firms

  • Anil Kanda
  • 22 Mar, 2013

ABFA, the Asset Based Finance Association has taken steps to ensure that customers are treated fairly by their members, and have produced a new code of conduct and dispute resolution service. An external, independent system of dispute resolution “managed by Ombudsman Services” has been established.

The Daily Telegraph have made an investigation which highlighted a number of poor practices by asset-based lenders who provide £17 billion of credit to small businesses in the UK.

Ashley Commercial Finance are supportive of this code and welcome regulation to the industry introduced by ABFA.