Hampshire Trust Bank appoints Head of Propositions

20th October 2021 Appointments |

Hampshire Trust Bank (HTB) has appointed Sally Wright as Head of Propositions for the specialist mortgages division. Wright joins HTB from Vida Homeloans to work alongside newly-appointed deputy Managing Director, Louisa Sedgwick who also joined this month to support the specialist lenders’ ambitious growth plans. Louisa Sedgwick, said “This is such an exciting time to…

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Small businesses face risk of high indebtedness

13th October 2021 Business Lending | #business debt

The number of heavily indebted small businesses rose considerably over the course of the pandemic, the Bank of England has warned. Analysis by the Bank’s Financial Policy Committee has shown that debt taken on by SMEs rose by a quarter, with many companies which had not previously borrowed going into the red for the first…

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Asset finance market grew by 6% in August

12th October 2021 Asset Finance |

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 6% in August 2021 compared with the same month in 2020. In the eight months to August 2021, new business was 22% higher than in the same period in 2020. The…

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Former Small Business Commissioner joins Optimum as Non-Executive Director

1st October 2021 Commercial Credit Management |

Optimum Finance has announced that it has recruited the former Interim Small Business Commissioner (SBC) as a Non-Executive Director. Philip King, who was also the former Chief Executive of the Chartered Institute of Credit Management (CICM), is joining Optimum. King has worked in the credit industry for more than 40 years and is an acknowledged…

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United Trust Bank makes two new appointments to its Asset Finance Credit team

29th September 2021 Appointments |

United Trust Bank (UTB) has announced two new appointments in its Asset Finance Credit team as it continues to break records for new written business. Gavin Mancey has joined the Bank as Underwriter and Daniel Idowu has been promoted to Underwriter having started in UTB’s Asset Finance Operations Team in 2018. Mancey has nearly 20…

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Aryza launches digital transformation product for SMEs

29th September 2021 Alternative Business Lending |

Insolvency, credit and debt recovery software solutions provider, Aryza has announced the launch of a new SME Open Finance product called Vantage. Combing various data sets, Vantage is the first B2B2C platform that delivers actionable insights within a customer permissioned environment that allows all parties to benefit from its shared components. It offers a best-of-breed…

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Businesses give back £1.3 billion in furlough cash

22nd September 2021 Business Lending |

British businesses buoyed by the UK’s economic recovery have returned £1.3 billion in furlough cash, according to new statistics from the Government. The figures show that firms who have overclaimed or decided they no longer need payments received through the Coronavirus Job Retention Scheme handed back £300 million in the last three months. In total,…

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SME buy-now-pay-later product launches

21st September 2021 Alternative Business Lending |

Investment firm Fintex Capital, has launched an innovative suite of buy-now-pay-later (BNPL) lending products aimed at established businesses seeking smart and cost-efficient debt financing and new avenues of growth. Over the past six months, Fintex has developed a range of bespoke BNPL products for creditworthy businesses, to help them access new markets and unlock value…

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Business lending to SMEs declines

13th September 2021 Business Lending |

Gross lending to SMEs was £5.2 billion in Q2 2021, down from £7.6 billion in Q1 2021, reflecting declining demand for new funding and falling applications according to latest analysis by UK Finance. The research showed that weaker demand led to gross lending continuing to decline across all regions and sectors. Whilst repayments accelerated in…

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SMEs confidence on the rise as business investment doubles

13th September 2021 Business Lending |

New research from Aldermore bank shows small and medium-sized enterprises (SMEs) are more confident in growing their business since lockdown restrictions have eased, as they reveal the amount they plan to invest in their business’ has risen 190% to £283,500, up from £97,719 in February. Two out of five SMEs will spend on new equipment…

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Asset finance market grows by 3% in July

10th September 2021 Asset Finance |

New figures released by the Finance & Leasing Association (FLA) has show that total asset finance new business (primarily leasing and hire purchase) grew by 3% in July 2021 compared with the same month in 2020. In the first seven months of 2021, new business was 24% higher than in the same period in 2020.…

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Sopra Banking Software launches Freehand Connect API

10th September 2021 Asset Finance |

Banking and specialised financing software specialist, Sopra Banking Software has announced that its Sopra Financing Platform (SFP) pricing engine, Freehand is now available as Software-as-a-Service REST API.  Currently, live with a major Asset Finance lender, the SFP Freehand Connect API provides access to the same rapid and accurate pricing calculations trusted by the industry right…

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Emergency loan scheme reversed alternative lending growth

7th September 2021 Alternative Business Lending |

Analysis by Innovate Finance has found that the pandemic had reversed years of growth among alternative lenders and resulted in large banks significantly increasing their market share. The fintech industry body said the emergency Bounce Back Loan Scheme saw £47.3 billion worth of state-backed credit channelled to more than 1.5 million companies. However, because non-bank…

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