Peer to Peer lender, The House Crowd has entered administration. On 24th February, the Directors of The House Crowd, a regulated Peer-to Peer firm, placed the company into administration and appointed Frank Ofonagoro, Jeremy Woodside and Frank Wessely of Quantuma Advisory as joint administrators. The House Crowd, formed in 2012, operated a Peer to Peer…

New HM Treasury figures have revealed that the banking and finance industry has approved another £2 billion of business loans over the past month, with the figure now rising to almost £73 billion to almost  1.6 million businesses so far through government-backed coronavirus lending schemes. Almost 29,500 Bounce Back Loans have been approved over the…

An independent review led by former Worldpay CEO Ron Kalifa has set out a new strategy to put the UK at the top of the global fintech league table. The review has set out a blueprint for the UK to maintain its global leadership in financial technology by helping the country’s fintech firms to scale…

Nearly half of businesses need more assurance on data security to adopt open banking according to new research by Yolt Technology Services (YTS). The research found that 42% of financial services businesses want better support and guidance on data security in relation to open banking. The survey of financial professionals including banks, lenders and retailers,…

The Government has announced plans to amend legislation around the future of pre-pack administrations, The legislation is the next stage in their efforts to improve stakeholder confidence in connected party pre-pack administrations and follows their announcement in October 2020 that they would introduce a number of reforms to this important business rescue tool. A key…

With the current furlough scheme expected to come to an end on 30th April more than seven in 10 (71%) SME leaders are calling for it to be according to research from Nucleus Commercial Finance. The research has found that larger businesses, those with between 50 and 249 employees are feeling the pressure the most,…

Cerberus Receivables Management (CRM) has announced that it has made three new appointments and significant investment in a new Salford HQ, IT infrastructure and brand identity and website. To accommodate business growth, CRM has moved into a new larger North West HQ. Significant investment has also been made in the installation of a new IT…

As the UK’s third national lockdown continues, just 8% of business leaders feel supported, research from Nucleus Commercial Finance today reveals.1 Half (50%) feel worried or depressed about the current lockdown and nearly four in 10 (38%) feel anxious about the current lockdown. More than half of SME leaders (54%) say their feelings towards the…

New analysis published today by Standard Life Foundation has found that 1.8 million people excluded from government income support schemes have seen their total household incomes fall by at least a third during the pandemic – five times greater than the rest of the UK population. Only 9% of the rest of the population have…

Latest statistics from the Insolvency Service have shown that business insolvencies in England & Wales decreased by 39.1% to 752 in January 2020 compared to December’s figure of 1,235, and were 50.4% lower than January 2020’s figure of 1,515. Overall, numbers of registered company insolvencies have remained low since the start of the first UK…

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