Bibby Financial Services (BFS) has appointed Paul Stack as Commercial Director for Europe and Asia. Stack will oversee product, pricing and commercial strategy implementation across the regions, reporting into Richard Carter, CEO for Europe and Asia. Stack joined BFS in April 2015 as UK Product Director, tasked with driving the development, management and innovation of…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole. The commercial vehicle finance and IT equipment finance sectors…

Barclays has announced that it is partnering with fintech business MarketInvoice, a specialist online invoice financing platform. The bank says it has committed to a significant minority stake in the firm to give Barclays’ SME clients seamless access to innovative forms of finance. Founded in 2011, MarketInvoice has funded invoices worth more than £2.7 billion, boosting…

Small firms are finding it increasingly costly to raise new finance, according to the latest research from the Federation of Small Businesses (FSB). The findings were announced ahead of a Bank of England (BoE) decision to raise interest rates to 0.75% Four in ten (42%) small firms describe new credit as ‘unaffordable’ in Q3 2018,…

UK Finance has published its latest business lending figures for June. Key data highlights include: Lending to manufacturers grew by 9.2 per cent in the last 12 months, in contrast to a wider 1.8 per cent contraction overall in UK business borrowing. UK business deposits for non-financial companies grew by 2.3 per cent in the…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 10% in May, compared with the same month in 2017. New finance for plant and machinery grew in May by 4% compared with the same month in 2017, while the commercial vehicle…

Hampshire Trust Bank has announced that it has appointed of Charles McDowell as Managing Director of the Banks’s Specialist Mortgages Division with effect from 1 October 2018. McDowell has worked for Aldermore Bank since 2014, latterly as Commercial Director (Mortgages). He started his career at Deloitte. Charles will sit on HTB’s Executive Committee and will…

The FCA’s efforts to improve financial services for SMEs has been the subject of the organisations latest annual report, SMEs are contributing more than £200bn a year, but increasingly feel under-served by banks. SMEs main ask from banks is financial planning tools and business growth advice, especially money management and cash flow tools according to research…

Hitachi Capital UK has announced it has acquired of Franchise Finance, a specialist financial services provider to the franchising industry. The transaction boosts Hitachi Capital UK’s lending base to SMEs and franchisees, bringing considerable senior consultancy experience to the Group and helping to build a profitable portfolio within an underserved market. The acquisition also enables…

A large majority of brokers think they will increase the amount of bridging finance they do over the next 12 months, according to a broker survey by specialist bridging lender Hope Capital, with 97% of broker saying that they are more than happy to work with unregulated lenders. Hope Capital’s survey revealed that for more…

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