TREATING
CUSTOMERS
FAIRLY
 

At Approved Business Finance Ltd, we are committed to offering our customers the highest possible standards of service. In doing so, we are pleased to support the Financial Conduct Authority (formerly Financial Services Authority) initiative ‘Treating Customers Fairly’.

 

Our commitment to our customers:

 

We will:

• Provide you with clear information about the service we offer, including any fees or charges.

• Continually aim to understand your business needs, preferences and circumstances in order for us to narrow down the selection of options that may be available to you.

• Source the most appropriate lender that we consider suitable for your business, and that you can afford (based on the information provided and is available to us).

• We will tell you if we cannot find an option we consider suitable.

• Aim to keep you fully informed in a clear and fair manner that is unambiguous and not misleading.

• Encourage you to ask questions, if there’s something that you do not understand.

• Work hard to ensure that service and risk information remains clear and prominent at all times.

• Provide you with details of our formal complaints procedure should you be dissatisfied with our service.

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Pre-signing Acknowledgement:

We will provide you with a document to ask you to confirm that the information noted below has been provided and that you are satisfied with our service:

• You have been given a verbal explanation of the proposed credit agreement, including how much you will have to pay periodically and in total under the agreement.

• You will read and sign a document giving an explanation of the proposed credit agreement, which appears to you to be representative of the verbal explanation provided before signing.

• You are happy that adequate product information and the possible alternative products available were provided.

• You can confirm that you have reviewed and accepted the quotation provided to you.

• You are happy to proceed on the basis that your agreed monthly payments include all fees and interest.

• Your rights to withdraw have been explained to you.

• The implications of not keeping up the repayments on the agreement have been explained to you.

• That commission is being paid by the lender to the broker, if the agreement is settled early (within 12 months of activation) then you will be liable to repay any monies reclaimed from the lender to Approved Business Finance Limited.

• You are happy that the lender undertook a creditworthiness assessment based on your historic accounts and if applicable, your forecasts.

• You are happy with the structure and amount of the funding.

• You have been advised to seek independent advice before deciding the agreement is suitable for you.

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Important

1. Before signing the proposed credit agreement, you should consider the precontract information given to you with this form, as some of the information may have changed since your credit application was accepted.

2. We receive a commission on lending arranged for you. We are paid a commission by lenders only if a finance offer is made by a lender to you, and you accept and draw down the finance offer. We may charge you an arrangement fee of up to 3% for arranging a Growth Guarantee Scheme product.

a) This commission is paid directly to the firm by the lender and is not an additional charge to those set out in your finance agreement, but it is included in the total payments detailed in that agreement.

b) If you have been introduced to us by a third party, we will pay a commission to that third party for the introduction once you have agreed to and activated the finance agreement. Any commission paid to an introducer is taken from the commission we receive from lenders.

3. You can ask for further information and explanation about your proposed credit agreement from Approved Business Finance customer helpline on 01908 429888 and on the Approved Business Finance website at www.approvedbusinessfinance.co.uk

4. DO NOT SIGN YOUR CREDIT AGREEMENT UNLESS YOU ARE SATISFIED THAT IT IS SUITABLE FOR YOUR NEEDS AND THAT YOU/YOUR BUSINESS WILL BE ABLE TO MEET THE REPAYMENTS WITHOUT UNDUE DIFFICULTY DURING THE AGREEMENT.

 

How you can help us:

 

To help us give you the service that you require, we will ask you to:

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• Tell us as much as possible about your business income and outgoings, to enable us to properly assess how much your business can afford.

• Let us know about future changes that might affect your business’ ability to make re-payments of your credit agreement (if known).

• Let us know if there is any aspect of our service, or of a product/finance solution we have discussed that you don’t understand.

• Tell us if you think there are ways we can improve our service.

 

For feedback, please forward your comments to: info@approvedbusinessfinance.co.uk
Or write to us at: Approved Business Finance, Studio H2B, Witan Studios, Witan Gate, Milton Keynes, MK9 1EF