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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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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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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2021 Credit & Collections Technology Awards shortlist and Think Tank announced

2nd September 2021 Alternative Business Lending |

The finalists for the fifth annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect Media will host the Awards ceremony as a face to face event at the Midland Hotel, Manchester on Thursday 4th November. This year’s…

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Embedded finance creating faster loan applications for small businesses

17th August 2021 Alternative Business Lending |

New data from small business lender specialist, iwoca has revealed how embedded finance will play a vital role for small businesses as they look to recover from the pandemic. In Q1 2021, iwoca data shows that 50% of customers who applied through an embedded finance partner received a lending decision in less than two minutes,…

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One in three brokers see rise in demand for unsecured finance

15th July 2021 Alternative Business Lending |

Demand for unsecured finance from SMEs is on the rise, according to iwoca’s quarterly SME Expert Index of UK brokers. The index, which covers a four-week period in May, found that over a third (38%) of brokers had submitted more lending applications for unsecured finance compared to the four weeks prior to that, suggesting that…

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Judges confirmed for 2021 Credit & Collections Technology Awards

The Credit & Collections Technology Awards has confirmed the judging panel for the 2021 event. Launched in 2017, the fifth annual awards seek to recognise excellence in credit and collections technology. The judging panel includes industry association leaders whose expertise includes specialisms from a diversity of different backgrounds, this ranges from consumer and business commercial…

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Peer to Peer platform to close

30th April 2021 Alternative Business Lending |

Business Peer to Peer (P2P) platform, Growth Street, as announced that it is nearing the completion of its solvent wind down and will shortly enter liquidation. The announcement follows the return of 100% of peer-to-peer (P2P) investor funds and a ‘highly successful’ recovery process. Growth Street was launched in 2015 with the mission to support…

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New alternative business lender launches

26th April 2021 Alternative Business Lending |

A new alternative lender focusing on providing credit and working capital funding to mid-market businesses has launched. Blazehill Capita says it will provide additional financial support to businesses when they are unable to get funding from traditional providers. The company says it will typically provide secured lending ranging from £5 million to £30 million per…

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Peer-to-peer lending platform placed into administration

23rd April 2021 Alternative Business Lending |

Business Loan Network, a peer-to-peer business lending platform has been placed into administration. The company was incorporated and commenced trading in 2010 operating an electronic peer-to-peer platform, with retail and institutional lenders investing in secured business loans.   In December 2019 the company took the decision to close the platform to new business and following…

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Nearly half of finance leaders make automation technology a key priority  

16th April 2021 Alternative Business Lending |

New research commissioned by commercial data and analytics provider Dun & Bradstreet has found 45% of 250 UK-based CFOs and finance leaders surveyed are embracing new technologies to increase efficiencies and 43% plan on improving their data quality as they look to increase their ability to manage disruption in 2021. The survey focused on strategies…

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SME Business lending grew by 162% in 2020

9th April 2021 Alternative Business Lending |

UK Finance’s latest Business Finance Review figures have shown that gross lending to small and medium-sized businesses across the UK totalled £63.6 billion last year, some 162%  higher than 2019. This underscores a significant rise in demand for finance as businesses responded to the pandemic. Government-backed lending schemes, alongside other loan and overdraft facilities, have…

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58% of SMEs could be excluded from Recovery Loan Scheme

9th April 2021 Alternative Business Lending |

Up to 58% of SMEs in need could be excluded from Recovery Loan Scheme according to research by Purbeck Personal Guarantee Insurance. The company warns that many SMEs could find themselves excluded from the Recovery Loan Scheme, with little option other than to access finance through personal guarantee backed loans – putting their home and…

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