How our auditing practices help build trusting relationships

Creating strong relationships founded upon transparent, independently verified practices and financial information

Lending practices and financial information you can trust

Did you know that our accounts and processes are independently audited quarterly? Discover why this is integral to the BloomSmith lending philosophy and our commitment to building high-quality relationships.

At the heart of any business relationship is the need for trust, and this is particularly pertinent when it comes to borrowing money.

Academic research into the growth of trust from small-to-medium-sized business borrowers towards their lenders shows that ongoing lending interactions must be driven by reciprocal motivations such as committing to obligations and open communication.

To minimise the ‘leap of faith’ required to initially borrow from us, our team has created a track record built upon transparent lending practices, ‘human-first’ account management and efficiently executed loans.

Read more: how we worked with Together and Synergy Commercial Finance to deliver a £378,600 VAT loan

Integral to this approach has been the creation of partnerships with reputable organisations whose skills and outlooks complement our own, focusing on positive outcomes through the shared values of transparency and mutual respect.

A key element of this has been ensuring that our reputation is built upon independently verified, accurate processes.

To achieve this, our accounts are externally audited on a quarterly basis by the independent asset and process review company Rockstead.

Established in 2008, Rockstead is a member of the trade association UK Finance and their reputation for demonstrating high professional standards has seen them achieve FSQS accreditation.

With unrivalled experience across commercial and unsecured finance, their team is perfectly placed to independently verify the integrity of all our transactions and processes.

This third line of defence against risk means our clients are assured that not only are our actions always in line with best practice, but that we are always receiving the best possible objective advice.

Alongside our auditors, we also work in partnership with the likes of Fladgate LLP, one of the UK’s top 100 law firms, and the chartered tax accountants Buckle Barton.

This enables us to effectively deliver loans within a 48-hour period once an application has been made, whilst giving borrowers the confidence that everything is being handled by expert teams of legal and tax professionals.

Our belief is that we should be able to be proud of everyone that we partner with at BloomSmith.

By taking this approach, we have created a solid foundation for fostering mutually beneficial, long-term relationships with borrowers and brokers across the country, who know that the BloomSmith name, and associated VAT Bridge product, is a guarantee that they’re in safe hands.

To learn more about our team, our story, or to get in touch, please follow the links below.

Our team

Meet the people behind our innovative funding platform.

Our story

Why we founded BloomSmith back in 2015.

Contact us

Get in touch with the BloomSmith team, today.

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