Lendology CIC, a not-for-profit social enterprise lender, has announced today its certification as a B Corporation (or B Corp), joining a growing group of companies reinventing business by pursuing purpose. Lendology has been certified by B Lab, the not-for-profit behind the B Corp movement.
A B Corp Certification is a designation that a business is meeting high standards of social and environmental performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials.
Chris Turner, Executive Director of B Lab UK says, “We are delighted to welcome Lendology CIC to the B Corp community. This is a movement of companies who are committed to changing how business operates and believe business really can be a force for good. We know that Lendology are going to be a fantastic addition to the community and will continue driving the conversation forward.”
Certified B Corporations are leaders in the global movement for an inclusive, equitable, and regenerative economy, all of which are endorsed as Lendology’s core values.
Emma Lower, CEO at Lendology said, “We applied to become a B Corp because we wanted to demonstrate that we provide high standards of both social, environmental performance, transparency and accountability. So as well as being a social enterprise and a community interest company, being a B Corp will offer us increased employee retention, engagement and diversity. It also means we’re connected to other B Corps in terms of our suppliers.”
By becoming a certified B-Corporation, Lendology will be held accountable for continuous social and environmental improvements, and as B Corps are required to undergo the verification process every three years in order to recertify. Because of this, B Corps are by definition focused on continuous improvement, leading to their long-term resiliency.
For more information about Lendology’s social impact visit: https://www.lendology.org.uk/about/our-social-impact/