The Guild of Business Finance Professionals launches in the UK

The Guild of Business Finance Professionals was officially launched on June 6th at the Asset Finance Connect Summer Conference in London. This new organisation’s founding members have signed a Charter reflecting their commitment to improving and maintaining the highest standards in intermediary and broking services within the lending sector.

Representing independent business finance intermediaries and brokers across the UK, the Guild’s founding members are dedicated to upholding robust professional ethics and the best benchmarking standards for both lenders and corporate borrowers, particularly SMEs.

The Guild aims to enhance the broader market’s understanding of brokers’ roles in securing funding for corporate entities. This initiative seeks to clarify the value of these services to all stakeholders, including borrowers, lenders, ombudsmen, regulators, and relevant government bodies.

Stephen Basset has been appointed as the Guild’s chairperson, with Trevor Pirie serving as vice chairperson.

The Guild of Business Finance Professionals is a non-profit, unincorporated association. Its members have collectively agreed to a constitutional charter outlining their objectives.

Purpose of the Guild

In today’s ever-changing and complex financial landscape, providing clear, honest guidance to business owners seeking financing is more critical than ever. Access to suitable financial products is essential, especially in the non-regulated business sector. Funders relying on brokers and intermediaries also need assurance that their interests are safeguarded, aligning all parties’ goals.

After 18 months of planning, the Guild was established to address these shared interests. It prioritizes the needs of corporate business owners and potential funders, aiming to eliminate poor lending and broking practices. By highlighting suitable financial products and eliminating mis-selling, the Guild strives to enhance market integrity.

The Guild’s collective voice will help negotiate agreements with funders that best serve mutual customers and influence the wider market. It welcomes collaboration with any funder, trade body, or stakeholder committed to promoting the sector’s reputation, eradicating poor and unfair practices, and educating others on meeting future corporate customer demand.

Membership

Experienced individuals working for reputable independent finance brokers and intermediaries are encouraged to inquire about Guild membership and the screening process involved.

For more information, email chair@bfpguild.org or vicechair@bfpguild.org.