WHAT THE BANKING CODE PROMISES SMEs (FROM THE BBA) 0
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Banks are happy for SMEs to bring their professional advisers with them to support them in their discussions with their business manager.
0 Banks will use either in-house guides or industry-standard literature to provide guidance on the factors that determine pricing.
+01 Banks will always inform customers of the time it will take for a lending decision to be taken, starting from the point when a full suite of information is provided to complete an application.
0 Banks will ensure they have fair and effective processes in place to review decisions to decline a lending request.
Wherever practical :anks will provide proactive and clear feedback to SMEs when a decision has been taken to decline a borrowing request and what next steps tl might take, for example, contacting Business Link for further advice and suppor • Banks will work with SME representatives and with the Lending Co standards board to promote both these initiatives and the Lending Code itself.