BFS Capital is focused on supporting small businesses.
A message from our CEO
As the COVID-19 outbreak continues globally, uncertainty and disruption have become the temporary norm for many businesses and communities. Our hearts and thoughts go out to those who are affected during this unprecedented event.
At BFS, we are paying careful attention to guidance from the CDC, WHO, and all government agencies as we continue to monitor the situation and its impact on the financing community and the small businesses we serve.
Throughout the current crisis, I want to assure you that BFS remains actively committed to championing small businesses. We are focused on being a supportive and active partner to the SMB community as we navigate this challenging time together.
Serving our customers and partners
We’re focused on being both creative and rigorous in our approach to financing. As a responsible lender, we take a lot of things into consideration when deciding whom to lend to, and how much they can afford.
Given government restrictions on citizens’ day-to-day activities, a number of sectors, including travel & entertainment, restaurants & bars, and personal services industries have been affected. As a result of this, we have temporarily suspended onboarding new clients in these sectors until we can better get a handle on the situation.
If you are an existing client with a business in one of these sectors, while we may have to temporarily delay your ability to unlock additional funds, your current financing will not be affected. If your business is being impacted by the current situation, please reach out to us to let us know how we can help.
We’re actively planning for how best to support small businesses with additional funding to help their businesses recover as soon as we have enough clarity to make informed funding decisions. We are also in active discussions with our peers about ways in which we can collectively partner with government to ensure liquidity returns to small businesses across our markets in the US, Canada and the UK as quickly as possible.
In the meantime, we are looking at ways to support our existing customers, including providing smaller, shorter-term financing options which can be renewed more frequently. Our aim is always to make smart, responsible financing decisions that maximize positive outcomes for our clients. We’re therefore looking carefully at sustainability and affordability criteria as we evaluate all requests for funding.
If you have a request for support, please reach out to our Customer Success team.
Ensuring business continuity
Our focus is on maintaining uninterrupted service and constant communication with our partners and clients during this and other challenging events.
As a global company with a geographically dispersed executive and operational team, a flexible, remote-enabled workforce, and a cloud-based IT infrastructure, we are prepared to manage a wide range of business continuity challenges. Over the past year, we have increased our investment in the technology and infrastructure that now enables all of our employees, across all business functions and all locations, to work remotely.
Taking care of our people
As mentioned above, we are carefully following guidance from relevant agencies and authorities to ensure the health and safety of our employees and communities.
At this point, we are already in full or partial work from home mode across all of our locations.
Within our offices, we’re taking precautions including limiting visitors, cleaning frequently, providing disinfectant wipes, and reminding employees regularly about best hygiene practices. We’ve placed a moratorium on all non-essential travel. We’re adjusting PTO, remote work, sick leave, and other policies to make sure our employees are supported if they or their families are impacted by the outbreak.
We’re in this together
We are all in this together. We understand and appreciate the important role we, and our peers, play in providing the fuel for small businesses, and we take that responsibility seriously. We continue to actively monitor the situation and are constantly looking for creative ways to continue to provide critical funding to our communities.
Mark Ruddock, CEO, BFS Capital
We’re here for you.
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