Latest HM Treasury figures have revealed that nearly 1.5 million businesses across the country are now supported by the UK’s banking and finance industry with a total of £65.5 billion in lending through government-backed Coronavirus lending schemes. Almost 1.4 million smaller businesses have now accessed financing as part of the Bounce Back Loan Scheme, with…

Invoice finance provider and fintech firm Optimum Finance has appointed two regional Sales Directors across three UK regions alongside the promotion of Lynn-Marie Jameson to Commercial Director. Kelvin Thomas joins the business as Regional Sales Director for Wales and the West and Iain Hendry as regional Sales Director for the South East. Thomas and Hendry…

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 11% in September 2020 compared with the same month in 2019.  In the nine months to September 2020, new business was 27% lower than in the same period in 2019. The…

The Covid-19 pandemic will cause firms to borrow over five times the amount in 2020 than in 2019, with many unlikely to start repaying until 2022 with total stock of bank lending to businesses forecast to close 2020 at £493bn, an 11% year on year increase, due to firms borrowing heavily through the pandemic. EY…

The Treasury has announced that applications for the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Loan Scheme will now be open until the end of January. The extension, which carries support before the previous end point of 30th November, also applies to the Future Fund, an initiative…

Latest figures from HM Treasury have revealed that the UK’s banking and finance industry has supported over 1.4 million businesses across the country through government-backed Coronavirus lending schemes. Lenders have approved over 73,000 facilities through the CBIL scheme and over 1.3 million business owners have benefited from the Bounce Back Loan scheme. For larger businesses,…

The British Business Bank has published Future Fund data that gives a detailed picture of the 745 companies that have been approved for £770.8m worth of Convertible Loan Agreements since the scheme was launched on 20th May. There have been 1,243 applications in total since the scheme was launched. The data reveals, 42% of funding…

United Trust Bank (UTB) has appointed Nathan Mollett as the Bank’s new Head of Asset Finance. Mollett joins UTB from Metro Bank where he has been Director of their Asset Finance division since 2015. Nathan is expected to take up his new position at UTB later this year. Mollett is an Asset Finance professional with…

Metro Bank has announced that it has appointed Nova Everidge as its new Director of Asset Finance. Everidge joined Metro Bank’s Asset Finance team in 2016 when she joined as Head of Operations and Sales Support, reporting into Nathan Mollett. Everidge will now succeed Mollett in leading the function, as he leaves Metro Bank to…

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 18% in August 2020 compared with the same month in 2019.  In the first eight months of 2020, new business decreased by 30% compared with the same period in 2019. The…

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