Property finance specialist LendInvest has announced that its Co-Founder and Chief Executive Officer (CEO), Christian Faes, is handing over day-to-day management of the business to a long-serving member of the management team. Rod Lockhart will become the CEO of LendInvest and joins the company’s Board of Directors. Faes, who co-founded LendInvest in 2008, remains fully…
With today marking two years since the implementation of the Second Payment Services Directive (PSD2) in the UK, the Federation of Small Business (FSB) has highlighted figures which show the minimal impact of the legislation to date. The FSB says that PSD2 paved the way for Open Banking – a set of interfaces which give consumers…
SME lender Simply has made a raft of new year promotions. The company has announced that it has made five senior promotions in recognition of the hard work and the important role they play in the growth of the business. John Wiles is promoted from Sales Director to Managing Director. Other promotions see Chris Etherington…
Data from loan firm Iwoca has shown that 1,200 small business owners applied to Iwoca for finance between Christmas Eve and New Year’s Day. The data from the 2019 Christmas week shows that many SME owners were focused on big decisions about their businesses. More than 1,200 applications were made to Iwoca between Christmas Eve…
The Government has welcomed an independent review that recommends changes to the Loan Charge, while also confirming that it was a ‘necessary’ response to the tax avoidance schemes it was designed to tackle. The Review, led by Sir Amyas Morse, was commissioned to look at the impact of the charge, which was introduced to tackle…
Bibby Financial Services (BFS) has appointed Jim Davis as Managing Director (MD) for Construction Finance as it looks to further its support for SME businesses in the sector. Joining BFS from Yorkshire Bank in 2011, Davis held the role of Head of Sales for the West Midlands since 2011and was instrumental in the opening of BFS’s…
Bank lending to small and medium sized (SME) retailers in the UK has fallen 6% from £15.6 billion to £14.7 billion since the Brexit vote in 2016, meanwhile large retailers have benefited from a sharp rise in bank lending, says accountants and business advisors, Moore. Over the same period that lending to SME retailers has…
A survey of commercial finance brokers undertaken by insurance provider, Purbeck, has uncovered an increasing demand by lenders for personal guarantees to secure business finance. In the survey, 47% of brokers said they had seen a rise in demand for personal guarantees as part of a new business finance package, in the past year. This…
Credit Connect has announced its inaugural Credit & Collections Technology company power list for 2019. The power list is the first edition of what will be an annual round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements…
MarketInvoice has updated its name to MarketFinance. The fintech business lender established in 2011, has provided over £2.6 billion in lending to thousands of UK businesses. Using its proprietary technology and risk engine, coupled with a personalised service to enhance the lending experience, MarketFinance has enabled businesses to seamlessly access credit lines to suit their…