Credit, collections & insolvency news
The Federation of Small Businesses (FSB) says that the Government should step in to provide small firms with personal guarantee protection following from the Financial Conduct Authority (FCA)’s investigation into personal guarantees, Martin McTague, National Chair of the Federation of Small Businesses (FSB) said “The FCA’s investigation was severely undermined even before it got underway…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in October 2024 by 4% compared with the same month in 2023. In the ten months to October 2024, new business was also 4% higher than in the same period in 2023.…
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A company director has been given a suspended prison sentence after claiming a £50,000 Bounce Back Loan and then dissolving her business. Irena Tokarczyk from Watford, was the sole director of Good Food Shops Ltd when she applied for a £50,000 Bounce Back Loan in June 2020 – the maximum amount allowed under the rules…
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Working capital was the most in-demand funding choice for businesses in most sectors in the first half of 2024, according to analysis by business financial platform Funding Options by Tide. The research showed that working capital finance came out as the number one business enquiry for 11 out of the 16 business sectors analysed in…
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Credit Connect Media hosted its second Commercial Credit & Collections Conference last week at the Midland Hotel in Manchester which saw ten trade credit and insolvency professionals from various industry sectors meet to discuss the latest industry challenges. In the seventh edition of the Commercial Credit & Collections Conference series, hosted by Credit Connect Media,…
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New research by EY ITEM Club has found that total bank lending grew by 2.6% this year (up from – 2.2% in 2023), 3.7% in 2025 and 4.3% in 2026. The research forecasts that business lending is set. to grow 3.1% this year (up from – 2.1% in 2023), 5.6% in 2025 and 6.2% in…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in September 2024 by 3% compared with the same month in 2023. In the first nine months of 2024, new business was 4% higher than in the same period in 2023. New…
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Invoice finance company, eCapital Commercial Finance has acquired Optimum SME Finance. David Tilling, CEO of Capital said “We are thrilled to welcome Optimum’s clients and team as part of our ambitious growth strategy. This acquisition broadens our national reach with a new regional presence in Bristol and reinforces our commitment to becoming the premier, fully…
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SMEs are switching to monthly payments for insurance bills as premium increases put pressure on their businesses according to new research Premium Credit. The research showed that 43% value the ability to pay for insurance monthly through premium finance or finance offered by insurers compared with 32% who prefer to pay in a lump sum.…
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The British Business Bank’s latest Nations and Regions Tracker reveals a significant increase in external finance usage among UK small businesses, with 46% now leveraging it, a rise of 10% from the previous year. Notably, Wales leads with 53% of smaller businesses using external finance, marking a 16 percentage-point increase. Despite this growth, 61% of…
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A third of commercial finance brokers struggle to find lenders prepared to fund business acquisition deals according to latest survey data from Asset Advantage. Alongside difficulties with lender appetite, two-in-ten brokers said they find it hard to secure the right loan value for potential acquisitions. Respondents also shared challenges with securing all the necessary information,…
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Economic uncertainty and the prospect of tax changes being introduced in the upcoming Budget are behind a slowing appetite for external funding according to Atom bank’s ‘SME Pulse’ for Q3 2024. The quarterly poll of commercial brokers found that there has been a drop off in demand from SMEs for funding. While nearly half (47%)…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in August 2024 by 7% compared with the same month in 2023. In the eight months to August 2024, new business was 4% higher than in the same period in 2023. New…
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