Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in July 2025 grew by 3% compared with the same month in 2024. In the seven months to July 2025, new business was 1% higher than in the same period in 2024. The…
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Shawbrook has agreed to acquire alternative lender, ThinCats. The acquisition of ThinCats represents a strategic investment in accelerating the growth of Shawbrook’s existing presence in the specialist SME lending market. ThinCats will continue to operate as a separate brand with independent teams, and will maintain a distinct proposition for owner-managed and sponsor-backed businesses. Amany Attia,…
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Latest data from Allica Bank has revealed that 48.5% of brokers have seen an increase in applications over the past six months. That’s up from 40% in Q4 2024, and comes despite a period marred by global uncertainty, trade tensions, high costs, and the introduction of higher employer National Insurance contributions. Only 20.3% of brokers…
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Almost two-thirds (61%) of SME finance brokers report submitting over half of their loan applications to alternative lenders in the last four weeks, according to research by Iwoca. Iwoca says that the shift underlines a change in business attitudes, with demand for modern, tailored financial solutions now outpacing traditional banking options. Speed of decision-making is…
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The Bank of England has cut interest rates to 4%, with the cut from 4.25% marking the fifth reduction since August 2024. The Bank of England’s Monetary Policy Committee (MPC) voted 5:4 for a cut. One voted for a 0.5% cut and four voted for rates to be held. Responding to the news, Federation of…
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Latest figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in May 2025 was at a similar level to the same month in 2024. In the first five months of 2025, new business was 1% higher than in the same period in 2024.…
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The overuse of personal guarantees in borrowing is hindering UK business growth, according to a survey by the Federation of Small Businesses (FSB). Research by the business group shows that six in ten (60%) limited company directors would borrow to grow their business, if they did not have to put hard-earned assets like savings or…
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Latest data from Purbeck Insurance Services has found SME loans for working capital fell 24% in Quarter 1 (Q1) 2025. The number of SMEs needing finance to keep their business on an even keel has not been this low since Q3 2024, based on Purbeck’s data. In contrast, refinancing deals grew dramatically year on year…
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Online businesses in the North West are securing much larger advances than their southern counterparts, reflecting the region’s growing digital economy and the impact of regional investment in tech hubs. The median advance approved for online businesses in the North West of the country has now increased by 483% year-on-year, to an amount of £175,000…
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New analysis from Premium Credit has shown that the Construction sector borrows the most to fund insurance premiums. The Professional and Scientific sector saw the most growth in terms of using credit for insurance. The data showed that 54% of SMEs use some form of credit to pay for insurance premiums, borrowing an average of…
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Lending to small businesses by high street banks hit the highest level since 2022, a sixth consecutive quarterly rise in the opening three months of 2025. UK Finance data showed that lenders issued £4.6 billion worth of loans in Quarter 1 (Q1), with this a 14% year-on-year jump. This represents a 14 per cent increase…
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The winners of the 2025 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 22nd May) at the Milner Hotel in York There were eighteen winners (four of which were partnership wins) from the twenty awards categories, which were presented by awards compare’ Brennan Reece. The Credit & Collections…
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Nearly eight in ten (78%) of SMEs are worried about inflation and the cost of living, according to Shawbrook’s latest research amongst senior decision makers, an increase from 69% in 2024. SMEs are particularly concerned about the rising cost of running their business (76%), with three quarters (75%) of decision makers listing economic uncertainty a…
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