The Credit & Collections Technology Awards has confirmed the judging panel for the 2021 event. Launched in 2017, the fifth annual awards seek to recognise excellence in credit and collections technology. The judging panel includes industry association leaders whose expertise includes specialisms from a diversity of different backgrounds, this ranges from consumer and business commercial…
Business Peer to Peer (P2P) platform, Growth Street, as announced that it is nearing the completion of its solvent wind down and will shortly enter liquidation. The announcement follows the return of 100% of peer-to-peer (P2P) investor funds and a ‘highly successful’ recovery process. Growth Street was launched in 2015 with the mission to support…
A new alternative lender focusing on providing credit and working capital funding to mid-market businesses has launched. Blazehill Capita says it will provide additional financial support to businesses when they are unable to get funding from traditional providers. The company says it will typically provide secured lending ranging from £5 million to £30 million per…
Business Loan Network, a peer-to-peer business lending platform has been placed into administration. The company was incorporated and commenced trading in 2010 operating an electronic peer-to-peer platform, with retail and institutional lenders investing in secured business loans. In December 2019 the company took the decision to close the platform to new business and following…
New research commissioned by commercial data and analytics provider Dun & Bradstreet has found 45% of 250 UK-based CFOs and finance leaders surveyed are embracing new technologies to increase efficiencies and 43% plan on improving their data quality as they look to increase their ability to manage disruption in 2021. The survey focused on strategies…
UK Finance’s latest Business Finance Review figures have shown that gross lending to small and medium-sized businesses across the UK totalled £63.6 billion last year, some 162% higher than 2019. This underscores a significant rise in demand for finance as businesses responded to the pandemic. Government-backed lending schemes, alongside other loan and overdraft facilities, have…
Up to 58% of SMEs in need could be excluded from Recovery Loan Scheme according to research by Purbeck Personal Guarantee Insurance. The company warns that many SMEs could find themselves excluded from the Recovery Loan Scheme, with little option other than to access finance through personal guarantee backed loans – putting their home and…
A new government-backed loan scheme launches to provide additional finance to those businesses that need it. The scheme is offering loans of as much as 10 million pounds to businesses, the Treasury said. The government is providing an 80% guarantee for all loans, and interest rates have been capped at 14.99% — though they’re expected…
Bounce Back Loan Scheme (BBLS) fraud, where companies apply for multiple government-backed loans to exceed lending caps, could be far lower than anticipated and points to the success of the scheme and creditor checks, according to data from the latest Equifax Market Pulse series. Previous estimates of how much the BBLS could lose to fraud…
A new broker index has identified cash flow as a key reason for SMEs applying for finance. iwoca’s new SME Index, which covers a four-week period in January has revealed that 41% of brokers said the most requested reason for applying for unsecured finance was to ‘manage the day to day cash flows’. One in…