New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million fell in February by 1%, compared with the same month last year. The plant and machinery finance and IT equipment finance sectors reported new business growth in…

New annual figures, published by UK Finance – for the first time since it took over most of the activities of the Asset Based Finance Association – show a steady increase in invoice finance and asset-based lending in 2017. UK Finance members provided IFABL to 42,000 businesses at the end of 2017, worth a total…

Ryan Maginess, director of Camereye Contracts, has been disqualified from acting as a director of a limited company for ten years. Maginess was the sole director of the company. The disqualification followed an investigation by the Insolvency Service and was ordered at Edinburgh Sheriff’s Court. The disqualification began on 11 January 2018. The investigation found that the company…

In 2017, almost half of all small to medium UK enterprises turned down a contract or order because they couldn’t deliver the work due to a lack of available finance; a trend that is expected to continue in 2018. According to funding line data from Hitachi Capital Invoice Finance, the demand for invoice finance is…

Figures released from UK Finance have revealed that the balance of pure Invoice Finance has grown from £18.6 billion at the end of Q2 2017 to £18.9 billion at the end of Q3 2017. This marks record lending levels from UK businesses amid sustained annual growth with the total balance of Invoice Finance rising from…

Latest data released by UK Finance has shown that the invoice finance and asset-based lending sector is providing more finance to UK businesses than ever before. Advances (the amount of funding being provided to clients at the close of the most recent quarter) are up 13 per cent year on year and stand at just over…

AIM-listed specialist independent provider of finance facilities, 1PM has announced the proposed acquisition of MH Holdings (UK) Limited, the holding company for Academy Leasing Limited for up to £12m. Academy Leasing has grown organically since its launch in 1987 to become one of the UK’s leading providers of equipment and vehicle finance. The acquisition will allow Academy…

MarketInvoice has expanded its mission in the business finance space by launching business loans today. This will complement their suite of invoice finance solutions, allowing them to better service the working capital needs of UK businesses. The launch announcement comes as MarketInvoice rebrands, representing its evolution into a business finance company. Businesses will now be…

Nearly half (44%) of SMEs have never checked their company’s credit score, according to research from RateSetter Business Finance. Credit scores are used by lenders to determine whether businesses have a good track record of repaying debt, and are therefore one of the key factors affecting an SME’s ability to get a loan. Credit reference…

Aldermore has announced the appointment of Richard Baxter as Head of Risk for Invoice Finance, a key strategic role within the Bank’s Business Finance team. Baxter will be based in Aldermore’s Manchester office and report directly to Clive Gould, Risk Director for Invoice Finance. He will be responsible for risk management and oversight of the Invoice…