Your bid for growth funds

Transcription

1 Supporting your business with financing decisions Select to continue >

2 Welcome What choice of funding options do you have? How can your business best maximise its chance of a successful funding application? We review a range of options available to businesses looking for financing and provide a checklist for you to consider when reviewing your strategic growth plans. Barclays is committed to making finance readily available to growing businesses and we see the funding process as a joint venture with our clients. We hope this article will support you in discussing your ambitions with us. What you ll find in this publication How banks can help Hear about the Barclays approach to funding your business, from Karl Nolson, Head of Debt at Barclays.

3 Welcome What you ll find in this publication We set out factors that Barclays considers when reviewing borrowing applications from businesses operating with an annual turnover of, typically, 6.5m to 25m, and the broad lending principles which we follow. Dependent on the nature of the business, some information in this article Image may to be be supplied relevant to companies with turnovers lower than this. What choice of funding options do you have? How can your business best maximise its chance of a successful funding application? ation? We review a range of options available to businesses looking for financing and provide a checklist for you to consider when reviewing your strategic growth plans. Barclays is committed to making finance readily available to growing businesses and we see the funding process as a joint venture with our clients. We hope this article will support you in discussing sing your ambitions with us. What you ll find in this publication How banks can help Hear about the Barclays approach to funding your business, from Karl Nolson, Head of Debt at Barclays.

4 Welcome How banks can help What choice of funding options do you have? How can your business best maximise its chance of a successful funding application? ation? We review a range of options available to businesses looking for financing and provide a checklist for you to consider when Where business growth places a strain on capital reviewing your strategic growth plans. resources, either due to working capital or capital expenditure requirements, banks have a key role to play in providing appropriately structured funding support. The banking industry can only fulfil that potential by ambitions with us. gaining the confidence of the business world through Image to be supplied What you ll find in this publication clear and open communication, resulting in a financing solution that is right for your business. How banks can help Barclays is committed to making finance readily available to growing businesses and we see the funding process as a joint venture with our clients. We hope this article will support you in discussing sing your Hear about the Barclays approach to funding your business, from Karl Nolson, Head of Debt.

5 Preparing your application It is essential to consider the funding sources available as soon as a potential need for capital is identified. Banks look for a form of security that will provide a reasonable level of risk sharing with the business.

6 Preparing your application It is essential to consider the funding sources available as soon as a potential need for capital is identified. At what point should I approach a bank? At what point should I approach ach my bank? The most critical piece of advice is to engage with your bank as early as possible ideally, as soon as your management team begins to have discussions about growth plans. What do I need to show the lender? How much and what type of funding should I ask for? Many businesses decide on a strategy and put a figure on the funding they require before contacting their lender. Sharing your ideas at an earlier stage allows your bank to better understand your strategic aims when the application for finance is submitted. This approach requires you to have open conversations about plans that may not be fully formulated. However, early strategic conversations can ensure that all options are discussed, which should make you and the lenders more comfortable when making future decisions. How soon will I get a response to my application? What security will the bank expect? I have had a lending application ation declined, can I appeal? Banks look for a form of security that will provide a reasonable level of risk sharing with the business.

7 Preparing your application It is essential to consider the funding sources available as soon as a potential need for capital is identified. How much and what type of funding should I ask for? This will be determined by the nature and impact of the growth. For example, a new contract on extended payment terms is likely to create a working capital need and may require an increased overdraft limit or invoice discounting ceiling limit. If the contract exceeds the current operational capacity of the business, however, there may also be a need for term loan funding to support new plant and equipment or perhaps a premises extension. At what point should I approach ach my bank? What do I need to show the lender? How much and what type of funding should I ask for? How soon will I get a response to my application? Consider alternative types of funding to ensure your financing package is fit for purpose aim to have this conversation with your bank early on. At Barclays our Relationship teams can provide information on the range of funding options available, to ensure we deliver the appropriate solution that meets your specific needs. We have outlined a number of these options in the Funding solutions section of this report. Banks look for a form of security that will provide a reasonable level of risk sharing with the business. What security will the bank expect? I have had a lending application ation declined, can I appeal?

8 Preparing your application It is essential to consider the funding sources available as soon as a potential need for capital is identified. What security will the bank expect? Banks look for a form of security that will provide a reasonable level of risk sharing with the business. This is not the first point on the agenda in any loan discussion, but it is a consideration. Typically, the business How premises much would and be what the most type likely of form of security. If you have no appropriate security funding to offer, should it may still I ask be possible for? to seek a loan via the Enterprise Finance Guarantee Scheme (see Funding solutions ). At what point should I approach ach my bank? What security will the bank expect? What do I need to show the lender? How soon will I get a response to my application? I have had a lending application ation declined, can I appeal? Banks look for a form of security that will provide a reasonable level of risk sharing with the business.

9 Preparing your application It is essential for consider the funding sources available as soon as a potential need for capital is identified. What do I need to show the lender? At what point Up-to-date should I financial statements (created How much within and nine what months) type of approach ach my bank? funding should I ask for? Bank shar The main documents you will be asked to supply are: Banks look unexpected for a form loss of a of key security customer, increased that will competitive provide pressures a reasonable or a rise in operating level costs. of risk sharing with the business. What security will the bank expect? We set out factors that we, at Barclays, consider when reviewing borrowing applications from businesses operating with an annual turnover of, typically, 6.5m to 25m, and the broad lending principles which we follow. Dependent on the nature of the business, some information in this article may be relevant to companies with turnovers lower than this. Your business plan A business plan will help you collate and clarify your business ideas, plan for the future of your business, and show What do I need whether to your idea is realistic and workable. How Your soon business will I plan get will a response play a key role in attracting I have funding had to a get lending your application ation show the lender? business started, so you should make sure to my you application? have one prepared before applying for lending. declined, can I appeal? Think about how your new venture supports your long-term aims and the wider goals of your business. This will help the bank to understand how a new opportunity fits with your business strategy, structure and current operation. Forecasts of 12 months In addition to historic and recent performance, your business plan should include realistic projections for the future. It can be useful to include a what if analysis, demonstrating that you have considered the effect of events such as the This formal documentation forms only part of the picture. At Barclays, we also take into account the intangible factors that inform the success of your business. In particular, a strong, focused management team that works well together will present your business in the best way.

10 Preparing your application It is essential to consider the funding sources available as soon as a potential need for capital is identified. How soon will I get a response to my application? At what point should I approach ach my bank? What do I need to show the lender? When provided with all the information we need, Barclays can offer a lending decision within a few days and often more quickly. From your perspective, we understand that the clock starts ticking as soon as the initial approach is made and early conversations with the bank will accelerate this process. What if the answer is no? How much and what type of funding should I ask for? It is important to understand the variety of alternative funding sources available to you, so that you can choose an alternative solution for your business. How soon will I get a response to my application? If the bank is unable to support your application on this occasion, the formal decline is unlikely to come as a surprise. We will have been engaged and transparent with you throughout the decision-making process, to ensure that you are kept up to date with progress. Barclays delivers all funding decisions face to face, enabling open conversations with our clients about potential alternative sources of financing. Banks look for a form of security that will provide a reasonable level of risk sharing with the business. What security will the bank expect? I have had a lending application ation declined, can I appeal?

11 Preparing your application It is essential to consider the funding sources available as soon as a potential need for capital is identified. I have had a lending application declined, can I appeal? At what point should I approach ach my bank? Barclays lending appeals process lets you appeal a lending decision if you ve been declined or aren t completely satisfied with the terms of a lending offer. What do I need to show the lender? How much and what type of funding should I ask for? Informing you about this process is part of our commitment to supporting you and your business. The process is monitored by an independent, external auditor to ensure that it s fair and effective. You can appeal if your lending application was declined and: Your company group turnover level is less than 25m Your Barclays Relationship Director has How fully reviewed soon will the I lending get a response application and you have provided them with all requested to my application? information Your lending application was declined in the past 30 days You have not previously appealed this decision Your existing lending isn t subject to formal demand or enforcement or legal proceedings Banks look Visit for our website a form more of security about the appeals that process will provide a reasonable level of risk sharing with the business. shar you find a suitable finance provider that may be willing to offer the finance you need.* * Applicable to businesses with below 25m turnover. What security will the bank expect? Your application doesn t breach UK law and regulations, doesn t involve cross-border transactions in countries subject to UN sanctions, and isn t linked to a product which may be used to evade tax. I have had a lending application ation declined, can I appeal? We may also offer your business a referral to the designated online finance platforms. These platforms will seek to help

12 Assessing applications When assessing applications from our clients, we follow processes which enable us to make a decision as effectively and efficiently as possible. In the following pages, we have outlined our key considerations when assessing a funding application. How will the lending decision be made? What are the bank s criteria? Company management Financial assessment Understanding your business At Barclays, we build a working relationship with your business and its people, so it is important that we understand your company s management team and how effectively it operates.

13 Assessing sessing applications When assessing applications from our clients, we follow processes How will which the enable lending us decision to make be a decision made? as effectively and efficiently as possible. In the following pages, we have outlined our key considerations when assessing sing a funding application. Your main contact at the bank sits within your Relationship team. Their understanding of your business goals will inform the Credit team s analysis of your application. The Relationship team will work with the Credit team to apply their local knowledge, as well as Barclays lending principles. Traditionally, Credit Officers have operated at a distance from the applicant, on the basis that this makes for an impartial decision. From an applicant s point of view, however, this can create the impression that decisions are being made behind closed doors. How will the lending decision be made? Barclays will on occasion involve its Credit team in early discussions with its clients. This gives the Credit Officer a first-hand appreciation of the business, its ambitions and challenges, as well as how the borrowing might best be structured to match your funding requirements. What are the bank s criteria? Company management Financial assessment Understanding your business At Barclays, we build a working relationship with your business and its people, so it is important that we understand your company s management team and how effectively it operates.

14 Assessing sessing applications When assessing applications from our clients, we follow processes What are which the enable bank s us criteria? to make a decision as effectively When and efficiently assessing a lending as possible. application, In the we following consider carefully whether the financing would pages, we have outlined our key considerations when support the company s growth ambitions. assessing sing a funding application. Positive analysis of the following key factors will also play a big role in the success of your application. How will the lending decision be made? What are the bank s criteria? Company management Financial assessment Understanding your business At Barclays, we build a working relationship with your business and its people, so it is important that we understand your company s management team and how effectively it operates.

15 Assessing sessing applications When assessing applications from our clients, we follow processes Company which management enable us to make a decision as effectively and efficiently as possible. In the following pages, we have outlined our key considerations when assessing sing a funding application. At Barclays we build a working relationship with your business and its people, so it is important that we understand your company s management team and how effectively it operates. We will be keen to find out how well you know the market, and how well your team runs its daily operations so any evidence you can provide will be valuable. The bank will want to know who is responsible for critical decisions such as the overall business strategy, cashflow management and finance operations, as well as the quality of your external advisers. How will the lending decision be made? What are the bank s criteria? Company management Financial assessment Understanding your business At Barclays, we build a working relationship with your business and its people, so it is important that we understand your company s management team and how effectively it operates.

16 Assessing sessing applications When assessing applications from our clients, we follow processes Financial which assessment enable us to make a decision as effectively and efficiently as possible. In the following pages, we have outlined our key considerations when assessing sing a funding application. Time will be spent analysing the liquidity of your company. Is the business solvent? What is its working capital cycle for example, is there always capital available for trade, regardless of the gap between payment of suppliers and income from customers? The analysis will look at your cash reserves, total debt levels and headroom in existing credit lines, as well as any hidden strains on the business, such as tax arrears. Sustainable cash generation will be assessed to ensure that the business has the capability to service all debt costs with a margin of safety, after meeting all of its other business obligations (including How will the lending decision be made? drawings/dividends/tax and maintenance capital expenditure). What are the bank s criteria? The financial appraisal will consider the current and projected future trading performance of the business. For example, what would the impact be if turnover varied by plus or minus 5%, or if there were to be a change in terms of trade for the business? Company management Financial assessment Understanding your business At Barclays, we build a working relationship with your business and its people, so it is important that we understand your company s management team and how effectively it operates.

17 Assessing sessing applications When assessing applications from our clients, we follow processes Understanding which enable your us business to make a decision as effectively and efficiently as possible. In the following pages, we have outlined our key considerations when assessing sing a funding application. Our Credit team will work closely with your Relationship team to explore the most suitable product mix to serve the needs of your business, as well as reviewing the most appropriate security to provide a share of risk between the business and Barclays. Our requirements concerning the debt structure will form part of a contract, called the facility letter. The bank may suggest formal covenants as part of its terms, requiring a specific degree of information to be shared throughout the term of a loan, or stipulating a level of business performance that ensures that the borrowing can be repaid with a comfortable margin of safety. How will the lending decision be made? What are the bank s criteria? Company management Financial assessment Understanding your business At Barclays, we build a working relationship with your business and its people, so it is important that we understand your company s management team and how effectively it operates.

18 What we consider Although a finance application can initially feel daunting, it should be seen as a collaborative exercise with your bank. The CAMPARI model (Character, Ability, Margin, Purpose, Amount, Repayment, Insurance) is widely used as a health-check for businesses when approaching a bank for lending. Character Ability Margin Purpose Amount Repayment Insurance

19 What we consider Although a finance application can initially feel daunting, it should be Character seen as a collaborative exercise with your bank. The CAMPARI What is the model capital (Character, base of the business? Ability, Margin, Purpose, Amount, Does the Repayment, business have Insurance) a good track is record? widely used as a health-check for businesses when approaching a bank for lending. Character acter Ability Margin Purpose Amount Repayment Insurance For how long has the business been a client of the bank? How experienced is the company s management team? Has the business repaid previous borrowing on time? Is any detrimental information known about the business?

20 What we consider Although a finance application can initially feel daunting, it should be Ability seen as a collaborative exercise with your bank. The CAMPARI model (Character, Ability, Margin, Purpose, Amount, Does the Repayment, business understand Insurance) its market? is widely used as a health-check Has a business for businesses plan been when completed? approaching a bank for lending. Character acter Ability Margin Purpose Amount Repayment Insurance How does the company monitor its business performance? Is there succession planning who will take over when the management retires? Is there strong cover in case of holiday, illness etc.? What are the qualifications of the management team? What are the previous business successes and failures? What are the skills and production capacity of the workforce? Is the business affected by international trade and is it aware of overseas/exchange rate risk?

21 What we consider Although a finance application can initially feel daunting, it should be Margin seen as a collaborative exercise with your bank. The CAMPARI Pricing terms model will reflect (Character, both the Ability, counterparty Margin, and transaction risk and how that is shared between the Purpose, Amount, Repayment, Insurance) is widely used company and Barclays. as a health-check for businesses when approaching a bank for lending. Character acter Ability Margin Purpose Amount Repayment Insurance

22 What we consider Although a finance application can initially feel daunting, it should be Purpose seen as a collaborative exercise with your bank. The CAMPARI model (Character, Ability, Margin, the business? Purpose, Amount, Repayment, Insurance) is widely used Is the borrowing within the bank s policy guidelines? as a health-check for businesses when approaching a Is the product structure suitable for the purpose of bank for lending. Character acter Ability Margin Purpose Amount Repayment Insurance Is the purpose of the borrowing in the best interests of the borrowing?

23 What we consider Although a finance application can initially feel daunting, it should be Amount seen as a collaborative exercise with your bank. The CAMPARI How does model the amount (Character, requested Ability, compare Margin, with the business s financial projections and is it enough? Purpose, Amount, Repayment, Insurance) is widely used Do the financial projections appear reasonable? as a health-check for businesses when approaching a What is the business s cash contribution to the project bank for lending. Character acter Ability Margin Purpose Amount Repayment Insurance and how can it be verified?

24 What we consider Although a finance application can initially feel daunting, it should be Repayment seen as a collaborative exercise with your bank. The CAMPARI model (Character, Ability, Margin, and is it sustainable? Purpose, Amount, Repayment, Insurance) is widely used Is the source of repayment clear? as a health-check for businesses when approaching a bank for lending. Character acter Ability Margin Purpose Amount Repayment Insurance Does the business trading record show the ability to repay Does the customer have secondary sources of repayment if the business fails? Is the repayment period acceptable?

25 What we consider Although a finance application can initially feel daunting, it should be Insurance seen as a collaborative exercise with your bank. The CAMPARI What is the model nature, (Character, type and value Ability, of the Margin, security being offered? Purpose, Amount, Repayment, Insurance) is widely used Is an up-to-date valuation of the asset available? as a health-check for businesses when approaching a bank for lending. Character acter Ability Margin Purpose Amount Repayment Insurance

26 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Asset Finance Invoice Discounting Business Growth Fund (BGF) Peer-to-peer lending Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

27 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Asset Finance Asset Finance Asset Finance can help you Invoice acquire new equipment that will support your company s growth ambitions. Business Growth Peer-to-peer It can also allow you to preserve Discounting your capital while still building the infrastructure Fund (BGF) you need to grow. lending Visit the Asset Finance web page Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

28 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Enterprise Finance Guarantee Scheme Asset Finance The Enterprise Finance Guarantee Invoice is a government scheme. It facilitates lending to businesses that lack the Business Growth Peer-to-peer security required for a commercial Discountingloan. Lenders such as Barclays Fund administer (BGF) the scheme, and the government lending underwrites 75% of the loan value. Visit the Enterprise Finance Guarantee Scheme web page Enterprise e Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

29 Funding ng solutions Venture Debt and Innovation Finance There are a number Innovation of funding Finance is options a term loan that or revolving you can credit consider, facility, supported instead by of the a term European loan. Investment Many of Fund, these for solutions will l be available through amounts your of bank up to and 10m you to provide should business still speak funding to for your innovative Relationship companies. team when considering these alternatives: atives: Bank funding solutions Funds are available for SMEs meeting a set of criteria, including but not limited to: investing in producing or developing new or substantially improved products, processes or services, fast-growing enterprises, having a focus on R&I or where they have significant innovation potential. Alternative funding solutions The facility is supported by the InnovFin SME Guarantee Facility, with the financial backing of the European Union under Horizon 2020 Financial Invoice Instruments and the European Fund Business for Strategic Growth Investments (EFSI) set up Peer-to-peer under the Asset Finance Investment Plan for Europe. Discounting The purpose of EFSI is to help support Fund financing (BGF) and implementing productive lending investments in the European Union and to ensure increased access to financing. Find out more here Enterprisee Finance Guaranteee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovationn Finance Overdraft Sean Duffy, Head of Technology, Media & Telecomms at Barclays talks about the funding options for high growth businesses. Paul Sulyok, CEO and Founder of Green Man Gaming talks about how Barclays supports their business ambitions.

30 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Invoice Discounting Confidential Invoice Discounting Invoice (CID) enables you to release money tied up in your sales ledger to fund business Business Growth Peer-to-peer growth, Asset Finance or just meet your day-to-day Discounting financial obligations. It s a cost-effective Fund solution (BGF) that is easy to operate and as your lending sales increase, so does the cash potentially available to you. Visit the CID web page Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

31 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Loans Asset Finance A lending facility that your Invoice bank commits to for a set period, which provides a flexible finance solution to Business Growth Peer-to-peer satisfy a wide range of business requirements. Discounting This would include, for example, Fund the (BGF) purchase of plant and machinery, lending investment in property, or funding medium- to long-term business growth. Visit the Term Loan web page Enterprise e Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

32 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Overdraft Asset Finance A flexible on-demand finance Invoice facility for managing short-term working capital funding requirements. Business Growth An overdraft can help you Discounting meet your day-to-day financial obligations Fund and (BGF) fund business growth. Visit the Overdraft web page Peer-to-peer lending Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

33 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Business Growth Fund (BGF) Asset Finance BGF is an investment firm Invoice that provides growth capital for growth and equity release. The fund takes a minority Business Growth Peer-to-peer stake in the businesses in Discounting which it invests and long-term investment Fund of (BGF) 2m to 10m is offered to businesses lending with an annual turnover of 5m to 100m. Visit the Business Growth Fund web page Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

34 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Equity-based crowdfunding Asset Finance The sale of a stake in a business Invoice to a large number of investors who are typically sourced from the internet, Business Growth Peer-to-peer or using an internet-based Discounting crowdfunding platform, in return for investment. Fund (BGF) lending Crowdfunding is predominantly used by early-stage firms to raise additional capital to expand their business. Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

35 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Peer-to-peer lending Peer-to-peer lending services Invoice offer business loans funded by thousands of individual investors. Business Growth Asset Finance This model aims to offer Discounting investors and borrowers better rates than Fund the mainstream (BGF) lenders. Peer-to-peer lending Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

36 Funding solutions There are a number of funding options that you can consider, instead of a term loan. Many of these solutions will be available through your bank and you should still speak to your Relationship team when considering these alternatives: Bank funding solutions Alternative funding solutions Private equity funding Asset Finance Private equity can be a good Invoice option for a smaller business, or one that envisages a steep growth trajectory Business Growth Peer-to-peer but lacks the track record to Discounting satisfy a bank s criteria. The cash injection Fund from (BGF) an equity fund could boost the business lending model to the point where future bank lending becomes an option. Enterprise Finance Guarantee Scheme Loans Equity-based crowdfunding Private equity funding Venture and Innovation Finance Overdraft

37 Key takeaways Engage with your bank as early as possible. Open conversations about your plans and financial requirements, during business planning, will help your bank to have a better understanding of your business when assessing a future funding application. Consider the range of funding options so that you are confident you have chosen the appropriate solution for your business. Early discussions with your bank should support you in making this decision. When applying for funding, you will be asked to provide up-to-date financial statements, forecasts, and a comprehensive business plan. The CAMPARI model is widely used as a health-check for businesses when approaching a bank for lending. For more information, speak to your Relationship team, contact Barclays on * or visit barclayscorporate.com *Calls to 0800 numbers are free from UK land lines and personal mobiles, otherwise call charges may apply. Please check with your service provider. To maintain a quality service we may monitor or record phone calls.

38 You can get this in Braille, large print or audio by calling * (via Text Relay or Next Generation Text Relay if appropriate). Barclays also welcomes calls via SignVideo for BSL users. Visit barclays.co.uk/signvideo *Calls to 0800 numbers are free from UK land lines and personal mobiles, otherwise call charges may apply. Please check with your service provider. To maintain a quality service we may monitor or record phone calls. Lines are open 7 days a week, 7am to 11pm. The views expressed in this report are the views of third parties, and do not necessarily reflect the views of Barclays Bank PLC nor should they be taken as statements of policy or intent of Barclays Bank PLC. Barclays Bank PLC takes no responsibility for the veracity of information contained in third-party narrative and no warranties or undertakings of any kind, whether expressed or implied, regarding the accuracy or completeness of the information given. Barclays Bank PLC takes no liability for the impact of any decisions made based on information contained and views expressed in any third-party guides or articles. Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No ). Registered in England. Registered number is with registered office at 1 Churchill Place, London E14 5HP. May BD05017.