top of page

Ethnic Minority Business Owners - Historic Lending Standards Regulator Report

The APPG for Ethnic Minority Business Owners is delighted to announce the launch of a historic and ground breaking report - ‘Increasing Access to Banking for Ethnic Minority Led Businesses’ by the Lending Standards Board created in collaboration with the APPG for Ethnic Minority Business Owners

Call to Action

The report aims to be a call to action to banks and lenders across the UK to consider its contents and move the dial on improving lending standards by reducing barriers to finance and increasing access to banking products and services by Black, Asian and Ethnic Minority entrepreneurs. The report also aims to build a consensus for UK wide inclusive banking standards to specifically serve the needs of diverse founders who are an important economic asset worth an estimated £25bn per annum.

One Size Does Not Fit All

A one size fits all approach to providing lending services has historically left the EMB community facing barriers which they have claimed leaves them being underserved on both a commercial and cultural basis. EMB communities represent a massive untapped potential for economic growth but the report has found that they are often hampered through barriers to accessing the finance they need to scale up their businesses.

Financial Services Rocket Fuel

The banking sector has a critical role to play in taking action to reduce barriers and provide EMBs with the financial services rocket fuel that they need to power up and unleash their potential to deliver economic growth and prosperity

The Lending Standards Board is an independent non-governmental organisation that is the primary self-regulatory body for the banking and lending industry in the UK.

The APPG for Ethnic Minority Business Owners is an informal group in parliament that is dedicated to reducing barriers and supporting the successful advancement of founders from an ethnic minority background.

Read the report ‘Increasing Access to Banking for Ethnic Minority Led Businesses’ here



bottom of page