Get To Know Liberis: Responsible Lending 09/05/2017 News I joined Liberis in 2015, and have been nothing short of impressed by the company’s commitment to responsible lending since. It is something we are truly passionate about - simply because it’s the right thing to do! Naturally, our part in this commitment is to carry out lending properly. A phrase which here means, lending by standards that respect the interests of both us and the customer. When approving Business Cash Advance (BCA) applications, we must be certain that the customer can afford to make sustainable repayments that won’t put their financial health at risk. So, we speak to them directly, and work hard to understand the ins and outs of their business and their needs, beyond what we find written on paper. But that’s not to say we don’t look at that too, as our underwriters use a number of sources to make responsible, informed decisions. Such as company and consumer credit bureau searches, and researching how the customer’s business is performing online. It’s about making a genuine assessment of the business, and we encourage our customers to do the same when making funding applications. This practice is by no means in place to dissuade business owners from applying – and we do love to say yes too! But that doesn’t mean that both parties shouldn’t be responsible when they do so. A large part of our commitment to lending responsibly also falls in line with our Treating Customers Fairly campaign, and striving to be as transparent as possible in our company communication. This is to help our customers to make decisions as informed as ours are, through conversation that is entirely jargon free. We have even begun to extend our best practice in responsible lending beyond Liberis, with the launch of the Association of Alternative Business Finance earlier this year. This organisation has been brought together by seven leaders in UK alternative finance who share a passion for best industry practice. Together we want to shape the development of the alternative finance sector in the coming years and promote, not only responsibility in lending, but transparency, fairness and security too.