How we conduct business.

Section 01

About the company

The following information informs you about bizbritain finance limited’s business, the services we provide to clients, how we conduct business including charges for the services we provide and commissions we may receive. It also sets out our policy over the general usage of this website and our copyright protection.

Within this document, bizbritain finance limited may also be referred to as “the Company”.

Financial Conduct Authority (FCA)

The Company is authorised by the FCA under the FRN 727207 to act as a Credit Broker. More information can be obtained by searching the Financial Conduct Authority register.

Data protection registration

The Company is registered with the Information Commissioner’s Office for data protection purposes under register number ZA062551. More information can be obtained from the Information Commissioner’s Office website.

Section 02

Start Up Loans

bizbritain operates as one of the Business support partners for the Start Up Loans scheme, run by the Start Up Loans Company, which is a subsidiary of the British Business Bank. The Start Up Loans programme is funded by the Department for Business, Energy and Industrial Strategy (BEIS).

The creditor for bizbritain Start Up Loans is The Enterprise Growth Fund Limited (Company Registration Number 04460763, authorised by the FCA under FRN 727252).

A Start Up Loan is a regulated credit activity as a personal loan for business use.

2.1Duty of care and Treating Customers Fairly

The Company works under the control of the Financial Conduct Authority (FCA) and is authorised and regulated as detailed above. bizbritain adheres to the Start Up Loans Company’s Lending Policy and Minimum Standards.

Clients will be required to supply personal and financial data and undergo credit searches as part of the application. If they complete these, they will then undergo eligibility, affordability and viability assessments. Our duty of care dictates that in all cases the decisions we make will be based on the information provided by the client.

All information provided by clients in this regard is treated as confidential and will be handled in accordance with our Privacy policy and the Data Protection Act.

2.2Debt serviceability and vulnerable clients

Our duty of care and regulatory obligations dictate that in all client engagements we take all possible steps to ensure that the following conditions are met:

1. That a Start Up Loan can be demonstrated to be adequately affordable to the client without the risk of financial hardship occurring either at the time of engagement or if circumstances change during the term of the loan. This is referred to as affordability. If, in the view of the Company, the requested borrowing cannot be adequately afforded, the client will be declined.
2. That we take all possible steps to identify any vulnerable clients who, for whatever reason, may not be in a position to fully understand the terms and conditions of any financial service being requested. In such cases, the Company will follow its Vulnerable Customers Policy and provide appropriate help and support.
3. That clients are advised of the associated risks and possible consequences should they not be able to make the regular scheduled payments during the agreed term of any loan, via the Finance Partner loan documents. It is vitally important the client reads these documents fully and carefully, and seeks independent advice if required.

2.3Services provided at no charge and without obligation

There is no charge to access a Start Up Loan and all support is free of charge. All key terms for a Start Up Loan are available on the Start Up Loans website.

Once a Start Up Loans client has submitted their application to stage 3, a bizbritain Business Advisor will be allocated to review the application in full, request further information if required, discuss the application with the client, and carry out a full assessment. The outcomes of this assessment are to approve, withdraw or decline. Approved and declined applications undergo a second internal review.

Approved applicants are then submitted to bizbritain’s Start Up Loan Finance Partner for final checks. The Finance Partner will issue Loan Paperwork by post to the client’s home address. These documents include all the key terms and must be completed, signed and returned. Upon receipt, the Finance Partner will initiate all necessary action to provision the financial service.

There is no obligation for the client to accept an offer of a Start Up Loan, and they have the right to withdraw from the loan agreement for a period of 14 calendar days, beginning the day after the client receives a copy of the executed loan agreement. Start Up Loans can be repaid in full with no penalty at any time.

2.4Commissions or payments bizbritain receives

bizbritain is paid a fee for each successful loan it completes by the Start Up Loans Company. There is no charge to the customer.

Section 03

Brokerage

In all brokerage activity, the Company acts as a credit broker and not a lender. We source appropriate financial services and products for our clients from a range of lending organisations (the Panel) with whom we have a professional broker agreement.

3.1Duty of care and Treating Customers Fairly

As a credit broker, the Company provides a range of financial brokerage services to businesses and clients (herein referred to as “the client”). Some of our services are not regulated by the Financial Conduct Authority. These include but are not limited to:

• Asset finance (apart from Hire Purchase Agreements)
• Cash flow finance
• Invoice finance
• Trade finance
• Secured loans
• Unsecured loans
• Commercial property finance or mortgages

However, the FCA places an expectation on credit brokers to apply the same standards and ethics to regulated and non-regulated finance. The Company takes this expectation extremely seriously and works to ensure the client’s needs and interests are placed at the heart of what we do. Our policy is to provide an unbiased and impartial service and to recommend the most appropriate and cost-effective financial products available to bizbritain which match the client’s declared needs, borrowing requirements and financial means.

In providing our services, we will normally request fact-finding information pertaining to the overall financial means of the client, asset and liability position, general personal or company profile and funding requirements. We may also request credit status information. This information will be reviewed internally and, if applicable, outline solutions identified.

If the Company considers there are lenders available to place the deal with from the Panel, the client will be required to sign an Engagement Letter giving the Company permission to package the deal and approach lenders to obtain Agreements in Principle (AIPs). If an AIP is offered, the Company will issue Disclosure Letters for each one, highlighting the key terms, requirements and considerations. The client will then decide which one, if any, they wish to pursue and sign, date and return the Disclosure Letter.

As per our Credit Policy and any Engagement Letter the Company issues, client data will be shared with third-party lenders to obtain decisions on whether the proposition is fundable and to obtain any Agreements in Principle. All information is treated as confidential and handled in accordance with our Privacy policy.

3.2Case packaging and contractor services

In providing services to clients, the Company may use the case-packaging and business-support services of contracted Associates. Such Associates are specialist independent business-finance brokers operating as a bizbritain Associate Broker, and are subject to our policies, regulatory requirements and procedures.

The term “packaging” in this context refers to the preparation and submission of any lender application documentation and supporting information to the proposed lender in order to secure and deliver a formal offer of funding to the client.

3.3Debt serviceability, vulnerable clients and client risks

Our duty of care and regulatory obligations dictate that in all client engagements we take all possible steps to ensure that the following conditions are met:

1. Any product or service we recommend can be demonstrated to be adequately affordable to the client without the risk of financial hardship occurring either at the time of engagement or if circumstances change during the term of the loan, lease or mortgage. This is referred to as Debt Serviceability Criteria.
2. We advise all clients of the associated risks and possible consequences should they not be able to make the regular scheduled payments during the agreed term of any loan, lease or mortgage taken out.
3. We take all possible steps to identify any vulnerable clients who, for whatever reason, may not be in a position to fully understand the terms and conditions of any financial service being requested.

3.4Credit profile searches

In providing our services, it may be necessary for a recommended lender to complete a formal credit search on a client or the client’s business. If this is required, the Company or lender will always seek the prior approval of the client before such a search is carried out.

In completing an Engagement Letter or providing general fact-finding documents that we may provide to you in the course of our services, it is considered implicit that you agree to such credit searches being carried out.

3.5Services provided without obligation

The initial fact-finding process, working with the client to identify the most appropriate and cost-effective actions to achieve the client’s stated financial objectives, and the internal Panel consideration of funding solutions, are provided without obligation.

Once the client has completed an Engagement Letter, they will be obligated to pay the Service Fees as outlined in the Engagement Letter. There is no obligation on the client to accept any offer of funding recommended by the Company thereafter.

3.6Commissions received and charges for our services

For the avoidance of doubt — other than services which would fall under the Consumer Credit Act (2006) — should the Company deliver to the client a formal offer of funding and the client (for whatever reason) decides not to complete the transaction, the agreed fee remains due for payment in full. Should none of the Company’s lending-panel members subsequently issue a formal AIP, the fees for services shall be returned to the client.

The fees charged to the client are not altered if a contracted Associate packages the deal. The client has the opportunity to review the summary report (AIP and Disclosure Letter) and to instruct the Company to proceed or otherwise. Should the client wish to proceed, they will be asked to sign and return the relevant Disclosure Letter, which is a formal and binding agreement under these terms of business.

Section 04

Complaints handling policy

The Company works hard to provide a consistently high level of service to all clients. Should any client have a grievance or complaint to make regarding the Company or the services provided, our full Complaints policy sets out the process.

In registering a complaint with the Company, please include as much detail as possible regarding the specific nature of the grievance, including the names of any staff members of the Company that you have been dealing with.

Every effort will be made to resolve the complaint or grievance as quickly as possible and to the full satisfaction of all parties.

Section 05

Use of the website

Please review the following terms and conditions concerning your use of the website. By accessing, using or downloading any materials from the website, you agree to follow and be bound by these terms. If you do not agree with these terms, please do not use this website.

5.1General website usage provisions

All materials provided on this website — including information, documents, products, logos, graphics, sounds, images, software, and services (“Materials”) — are provided either by the Company or by their respective third-party manufacturers, authors, developers and vendors (“Third Party Providers”), and are the copyrighted work of the Company and/or its Third Party Providers.

Except as stated herein, none of the Materials may be copied, reproduced, distributed, republished, downloaded, displayed, posted or transmitted in any form or by any means — electronic, mechanical, photocopying, recording, or other — without the prior express written permission of the Company or the Third Party Provider. You may not “mirror” any Materials contained on this website on any other server without prior express written permission.

The Company hereby grants you permission to display, copy, distribute and download the Company’s Materials on this website provided that: (1) the copyright notice and this permission notice appear in the Materials; (2) the use is solely for informational use and will not be copied or posted on any networked computer, broadcast in any media, or used for unofficial dissemination; and (3) the Materials are not modified in any way. This permission terminates automatically without notice if you breach any of these terms.

Any unauthorised use of any Materials contained on this website may violate copyright laws, trademark laws, the laws of privacy and publicity, and communications regulations and statutes.

Section 06

Confidentiality

Any information concerning the client and their respective client records may be passed to third parties in the delivery of Company services to the client, and if legally required to do so, to the appropriate authorities. Clients have the right to request sight of, and copies of, any and all client records we keep, on the proviso that we are given reasonable notice of such a request.

Clients are requested to retain copies of any literature issued in relation to the provision of our services. Where appropriate, we shall issue clients with written information, handouts or copies of records as part of an agreed contract, for the benefit of both parties.

We will not sell, share, or rent your personal information to any third party or use your email address for unsolicited mail. Any emails sent by the Company will only be in connection with the provision of agreed services and linked products. Please see our Privacy policy for further information.

Section 07

Links to third-party sites

This website may contain links to websites controlled by parties other than the Company. We are not responsible for and do not endorse or accept any responsibility for the contents or use of these third-party websites. You should evaluate the security and trustworthiness of any other site connected to this site or accessed through this site yourself, before disclosing any personal information to them.

The Company will not accept any responsibility for any loss or damage, in whatever manner howsoever caused, resulting from your disclosure to third parties of personal information.

No other party may create a link to any page of this website without our prior written consent. If you do create a link to a page of this website, you do so at your own risk and the exclusions and limitations set out in these terms will apply to your use of this website by linking to it.

Section 08

Disclaimer, exclusions and limitations

Where expressly provided otherwise by the Company, the Materials on the website are provided “as is”. The Company hereby disclaims all express or implied representations, warranties, guarantees and conditions — including any implied warranties or conditions of merchantability, fitness for a particular purpose, title and non-infringement — except to the extent that such disclaimers are held to be legally invalid.

The information on this website is provided on an “as is” basis. To the fullest extent permitted by law, the Company:

• Excludes all representations and warranties relating to this website and its contents, or which is or may be provided by any affiliates or any other third party, including in relation to any inaccuracies or omissions in this website and/or the Company’s literature.
• Excludes all liability for damages arising out of or in connection with your use of this website. This includes, without limitation, direct loss, loss of business or profits (whether or not the loss was foreseeable, arose in the normal course of things or you have advised this Company of the possibility of such potential loss), damage caused to your computer, computer software, systems and programs and the data thereon, or any other direct or indirect, consequential and incidental damages.

The Company does not, however, exclude liability for death or personal injury caused by its negligence. The above exclusions and limitations apply only to the extent permitted by law. None of your statutory rights as a consumer are affected.

Unless otherwise stated, the services featured on this website are only available within the United Kingdom, or in relation to postings from the United Kingdom. All advertising is intended solely for the United Kingdom market. You are solely responsible for evaluating the fitness for a particular purpose of any downloads, programs and text available through this site.

You have sole responsibility for the adequate protection and backup of data and/or equipment used in connection with the website, and you will not make a claim against the Company for lost data, re-run time, inaccurate output, work delays, or lost profits resulting from the use of the Materials.

Section 09

General information

This website may include inaccuracies or typographical errors. The Company and the Third Party Providers may make improvements and/or changes in the products, services, programs, and prices described in this website at any time without notice.

The Company may periodically make changes to the website. These terms represent the entire understanding relating to the use of the website and prevail over any prior or contemporaneous, conflicting or additional, communications.

The Company has the right to revise these terms at any time without notice by updating this posting. Any rights not expressly granted herein are reserved by the Company.

If any of these terms are deemed invalid or unenforceable for any reason (including, but not limited to, the exclusions and limitations set out above), the invalid or unenforceable provision will be severed from these terms and the remaining terms will continue to apply. Failure of the Company to enforce any of the provisions set out in these terms, or failure to exercise any option to terminate, shall not be construed as a waiver of such provisions and shall not affect the validity of these terms.

These terms shall not be amended, modified, varied or supplemented except in writing and signed by duly authorised representatives of the Company.

Section 10

Intellectual property and trademarks

Elements of the website may be protected by trademark protection and other laws, and may not be copied or imitated in whole or in part. No logo, graphic, sound or image from the website may be copied or re-transmitted unless expressly permitted by the Company.

The bizbritain logo is a registered trademark and copyright protected. It must not be copied or reproduced in any way.

Section 11

Log files and cookies

We use IP addresses to analyse trends, administer the site, track user movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information. For systems administration, detecting usage patterns and troubleshooting purposes, our web servers automatically log standard access information including browser type, access times, URL requested, and referral URL. This information is not shared with third parties and is used only within the Company on a need-to-know basis.

Like most interactive websites, this Company’s website uses cookies to enable us to retrieve user details for each visit. Cookies are used in some areas of our site to enable functionality and ease of use. Some of our affiliate partners may also use cookies.

More information is available in our Cookie policy and our Privacy policy.

Section 12

Governing law

Any action related to these terms will be governed by the law prevailing in England and Wales and any superior European Union law. By accessing this website and using our services or buying our products, you consent to these terms and to the exclusive jurisdiction of the English courts in all disputes arising out of such access.

Section 13

Legal contact

If you have any questions about these terms, or if you would like to request permission to use any Materials, please contact the Company.