SME and Business

Business Finance Charter

Confirming they are ‘open for business and ready to lend’ which includes specific funds they have set up for SME lending;

  • CYBG is actively supporting SME customers through its Clydesdale and Yorkshire Bank brands and we have ambitious plans to continue to develop and grow our support for small firms over the next three years, with the launch of a new Virgin Money business current account in 2020, expanding our business banking services across the whole UK for the first time.
  • Clydesdale and Yorkshire Bank small business customers can take confidence that we will work closely with them, wherever possible, to support them through the current uncertain economic and political environment. We are being and will continue to be, fully sympathetic to requests either for new/additional lending or providing flexibility on existing lending, where possible.

Helping SMEs to prepare for Brexit and beyond by setting out the resources that they can provide;

  • Our network of over 300 business relationship managers are available to speak to customers about the impact of Brexit on their business and will respond sympathetically to requests for additional support.
  • Clydesdale and Yorkshire Bank SME customers can find details of UK Finance’s ‘Let’s Talk Business’ web pages on our business banking website, providing customers with an online resource for businesses preparing for Brexit.

Providing clear and accessible information for SMEs seeking finance, including expectations around the management of accounts, cashflow projections and security, explaining options if initial applications are declined;

  • Clydesdale and Yorkshire Bank customers have access to a wealth of information through our websites as well as our relationship managers. Customers can contact their relationship manager to discuss their product and lending needs – our sector specialists are available to explain products to customers on a case by case basis, and explain what information we require from them to provide them with the right support.
  • In the event that a request for lending is declined, we will write to customers outlining the reasons and what they can do. We will also provide customers with information regarding the lending appeals process on our website.

Treating all customers fairly, explaining how they will resolve any disputes that may occur; and

  • CYBG has a well-established and fully transparent procedure for resolving complaints with customers, which is fully compliant with regulations and delivers a fair outcome for customers.
  • We are also signed-up to the voluntary Standards of Lending Practice, which are designed to set the benchmark for good lending practice in the UK and how we as a Bank are expected to deal with their customers throughout the entire product life cycle.
  • We are also fully support and will be part of the proposed Business Banking Resolution Service.

Working with the government-owned British Business Bank to signpost to their guidance and to help businesses secure a loan or overdraft even if they lack the security for the borrowing, giving SMEs the ability to invest and expand.

  • CYBG has a long history of working with the British Business Bank to support SMEs, including involvement in BBB schemes to support lending to small businesses.
  • In particular, we offer Enterprise Finance Guarantee loans to our customers, where appropriate, and will continue to do so.