Mr. Ian Black:

Yes. At the moment the banks are providing invoice financing to their customers but in terms of the non-banks, Bibby currently is the only non-bank on-lender providing that service.

In terms of the process of being an on-lender, it is open to all and it is fair and transparent. In the slide presentation we provided to the committee we set out that process. What we want to ensure is that the process is fair but also that taxpayers' moneys, and the money of our European partners also, are protected. The most important point is that the benefit of this funding goes to the SMEs. Slides 19 and 20 set out the process for establishing an on-lender partner. As I said, it is open to all. We have a due diligence process in place designed to protect taxpayers' moneys. We have to be happy with the structure proposed, the financial capabilities of the company, its experience in terms of credit and underwriting and also its operational capability to ensure that the benefit goes to the SMEs.