Latest figures from UK Finance have indicated that gross lending of £34.5 billion in the second quarter was, in a single quarter, 50 percent more than the annual total in 2019. Figures also showed that ,more than a million businesses had applications approved for finance under Government schemes by the end of June. Un-utilised overdraft…

A study by Onward has found that around 20% of British businesses are only making enough profit to cover their debt interest payments. High levels of corporate debt built up by companies during the COVID-19 pandemic has pushed 4.3% of firms into technical insolvency, the report estimates. In the new research paper titled ‘Paying it…

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 22% in July 2020 compared with the same month in 2019.  In the seven months to July 2020, new business contracted by 31% compared with the same period in 2019. The…

Latest figures from the HM Treasury have shown that almost £53 billion of credit has been issued through the Government’s emergency coronavirus lending schemes, with more than 1.23 million businesses benefitting. Around £35.5 billion has been approved through the bounce back loan scheme for small companies, with £13.7 billion provided to over 60,400 businesses through…

Invoice finance provider, Optimum Finance appoints has announced three new appointments. The company welcomes James John as its new Head of Risk, Rebecca Salt as Regional Sales Director for the Midlands and Dany Boyle as its new Partnerships Manager. James John joins Optimum finance with 23 years’ experience. He started off as an auditor for…

Latest HM Treasury figures have reveal that just under 1.2 million businesses in the UK have been supported by finance from lenders through government-backed coronavirus lending schemes. On the three-month anniversary of the Bounce Back Loan Scheme (BBLS), the figures reveal that over 1.13 million small and micro businesses have now been backed by the…

New figures have revealed that over 1.17 million businesses in the UK have received finance from lenders through the government-backed coronavirus lending scheme. The banking and finance industry has now provided over 1.1 million small and micro businesses with £33.7 billion through the Bounce Back Loan Scheme (BBLS). The Coronavirus Business Interruption Loan Scheme (CBILS)…

The banking and finance industry has approved £47.9 billion to over 1.1 million businesses so far through government-backed coronavirus lending schemes, HM Treasury statistics have revealed. The Bounce Back Loan Scheme (BBLS) continues to provide new support to thousands of small and micro businesses every day, with 1.08 million businesses having received a total of…

More than 1.1 million businesses backed by £46 billion through Covid-19 lending schemes according to the latest HM Treasury figures. The figures show that the banking and finance industry has approved £46.3 billion to over 1.1 million businesses so far through government-backed coronavirus lending schemes with Almost 1.05 million small and micro businesses have received…

Invoice finance business Optimum Finance has announced its latest technological innovation as part of its mission to use technology and automation to revolutionise the sector and benefit its SME customers. The company partnered with artificial intelligence (AI) and machine learning experts Critical Future to develop a first-in-sector machine learning capability which can identify companies that…

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