Small and medium-sized enterprises (SMEs) are increasingly turning to alternative sources of financing,  according to a new OECD report. The report also shows that new bank lending is declining in a number of countries. Many SMEs remain over-reliant on bank credit, however, and the take-up of instruments other than straight debt varies greatly from one…

The British Business Bank’s has published its 2018 Small Business Finance Markets report reveals welcome evidence that the UK’s small businesses are diversifying in their choice of finance. Although still the predominant channel, there are encouraging signs that small businesses are looking beyond their main bank for finance and turning to alternative sources. The value of SME…

Alternative finance specialist ThinCatshas made two new appointments to its credit team. Rob Thompson to the newly-created role of regional head of credit for the North. Thompson’s role will accelerate the rate at which Thincats is able to structure and process loans, in the way that best addresses the needs of companies and investors alike.…

Esme Loans has joined a handful of leading alternative finance firms in a partnership with a NatWest and Royal Bank of Scotland (RBS) programme designed to help businesses access alternative sources of finance. Esme Loans, a digital lending platform owned and backed by NatWest, allows small and medium-sized businesses to quickly obtain unsecured loans of…

The Peer-to-Peer Finance Association (P2PFA) has announces the appointment of Paul Smee as new independent Chair, succeeding Christine Farnish who is stepping down after a five-year term. This appointment follows a record-breaking year for the peer-to-peer lending sector with £2.9 billion lent through P2PFA platforms in 2017 alone. Smee brings more than 17 years’ experience…

A Responsible Finance Provider (RFP) is set to be wound down after Duff & Phelps was appointed as administrators. Midlands Community Finance was one of the first RFP in the East Midlands when it was set up in 2003. Midlands Community Finance was set up to make loans to financially excluded individuals and businesses that…

The P2PFA has published data showing that in the period ending in the fourth quarter of 2017, cumulative lending transacted through P2PFA member platforms exceeded £8 billion. Commenting on the data, Robert Pettigrew, Director of the P2PFA, said “The final three months of 2017 saw considerable growth in levels of new lending transacted through platforms…

Zopa, has announced the appointment of three new hires to its Executive team. The new hires come at a significant time in Zopa’s growth as it moves towards launching its next-generation bank. Steve Hulme has been appointed Chief Financial Officer. Hulme joins from Tandem Money where he was CFO for the last two years. Before…

Following a review of its commercial finance proposition, peer-to-peer lending platform RateSetter has announced that it is going to simplify its commercial finance product suite to focus solely on property-backed and asset-backed lending. RateSetter will continue to offer lending into consumer, business and motor finance markets, however, the commercial finance offer will no longer include…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was £2.5 billion, a similar level to the same month in 2016. The commercial vehicle finance and IT equipment finance sectors reported new business up in November by 5% and 1% respectively,…

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