About

Better Business Finance

What is Better Business Finance?

Better Business Finance was originally set up by Barclays, HSBC, RBS, Lloyds and Santander in 2011. It is now managed by UK Finance in collaboration with its business and finance partners.

Better Business Finance was originally created to bring to life the recommendations of the Business Finance Taskforce, set up by the major banks to work together to help support the UK’s small and medium-sized businesses who are vital to our economy.

There are three core objectives at the heart of Better Business Finance:

Improving transparency and understanding

Image
Improving-transparency-and-understanding
This includes helping businesses understand different types of finance, explaining the processes that businesses looking for finance will need to go through and working with partners to improve service delivery in banks and finance providers.

Improving customer relationships

Image
Improving-transparency-and-understanding
Improving relationships with business customers by signposting to sources of business support, including mentoring, to information about types of finance and also the appeals process available to businesses that have been refused finance by certain banks.

Improving access to finance

Image
Improving-transparency-and-understanding
The commercial finance industry in the UK is diverse, innovative and evolving, with many different types and providers of finance. The large banks run a referral process to these other providers and finance options, where appropriate.

About UK Finance

UK Finance is the collective voice for the banking and finance industry. Representing more than 300 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.

We work for and on behalf of our members to promote a safe, transparent and innovative banking and finance industry. We offer research, policy expertise, thought leadership and advocacy in support of our work. We provide a single voice for a diverse and competitive industry. Our operational activity enhances members’ own services in situations where collective industry action adds value.

UK Finance logo