From inception, Plend’s articles of association and ambitions have been aligned and prepared in anticipation of submitting our application to become the UK’s first B-Corp consumer lender.
Let’s start off by explaining what a B-Corp company is and who B-Lab are.
Started in 2006, B-Lab is a not-for-profit organisation built on the idea that a new type of economy was possible, whereby companies followed standards and policies that contribute positively to some of society’s most critical problems.
B-Lab is responsible for certifying organisations as B-Corp Certified that meet the highest standards of social and environmental responsibility, transparency and accountability. What started out as an ambitious mission, has turned into a global movement, with the likes of Ben & Jerry’s, Brewdog and Coursera being some of the big names dedicating themselves to the cause.
Plend is proud to announce that we’ve submitted our application to join the mission, and are now officially a B-Corp Pending consumer lender. This means that we are committed to demonstrating that we’re an ethical solution to personal lending and that our business, both internal and external, has the procedures in place to prove it.
We’ve also recently just announced our authorisation by the Financial Conduct Authority (FCA) to begin lending, and have commenced our pre-registration campaign, which people can sign up to simply by entering their contact details and desired loan amount and purpose.
With these incredible milestones, along with our recent approval of membership as a Responsible Finance Supporter, we now have the network and building blocks to drive real change in the consumer lending space, and fulfill the mission that we set out to achieve.
Watch this space.