Credit, Collections & Insolvency News
Zopa has announced a governance restructure in advance of launching its next-generation bank. The re-structure will establish separate boards for the Zopa P2P business, proposed bank (subject to banking licence approval) and Group in order to facilitate the increasing scale of the business, ensure good corporate governance and protect the interests of its customers. The…
Read moreThinCats, the alternative funding specialist, has announced a senior hire to cover the North West region. Richard Lamb joins ThinCats to lead new business origination throughout the North West, after nearly a decade as Relationship Director at NatWest, and having been in corporate banking since 1992. He joins the company’s growing team of experienced bankers who…
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A new report by Aldermore titled Future Attitudes has revealed that just under a quarter (23%) of SMEs, representing 1.27million small and medium-sized businesses across the UK, are missing out on new business opportunities due to a lack of available funding a 4% increase on the previous year. The report, which surveyed over a thousand business…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is to host the Credit and Collections Technology Awards at this year’s CSA Gala Dinner on 13 September. The co-branded event, which will form part of the CSA’s UK Credit and Collections Conference (UKCCC), reflects the Association’s growing recognition…
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SME finance monitor shows only 41% of SMEs seeking finance were confident the bank would lend to them in Q4 2017. Nic Beishon, Head SME of Commercial at Equifax, said “There are millions of companies in the UK with fewer than 10 employees and many who apply for finance often have a limited credit history –…
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Peer-to-peer (P2P) business lending platform ArchOver, has announced that Bill Johnston will join its board of directors as a non-executive director (NED). In his role, Johnston will support ArchOver in formularising its training and development programme, to ensure it has the right talent in place as it continues to scale. Bill Johnson said “In the…
Read moreFifty-five percent of UK SMEs are unable to access all funding needed to grow, and without the right knowledge or education on how to obtain it. Research from Liberis has found. Liberis report says that SMEs contribute more than £200bn a year; with this number expected to grow by almost 20% by 2025. The report…
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Small and medium-sized enterprises (SMEs) are increasingly turning to alternative sources of financing, according to a new OECD report. The report also shows that new bank lending is declining in a number of countries. Many SMEs remain over-reliant on bank credit, however, and the take-up of instruments other than straight debt varies greatly from one…
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The British Business Bank’s has published its 2018 Small Business Finance Markets report reveals welcome evidence that the UK’s small businesses are diversifying in their choice of finance. Although still the predominant channel, there are encouraging signs that small businesses are looking beyond their main bank for finance and turning to alternative sources. The value of SME…
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Alternative finance specialist ThinCatshas made two new appointments to its credit team. Rob Thompson to the newly-created role of regional head of credit for the North. Thompson’s role will accelerate the rate at which Thincats is able to structure and process loans, in the way that best addresses the needs of companies and investors alike.…
Read moreEsme Loans has joined a handful of leading alternative finance firms in a partnership with a NatWest and Royal Bank of Scotland (RBS) programme designed to help businesses access alternative sources of finance. Esme Loans, a digital lending platform owned and backed by NatWest, allows small and medium-sized businesses to quickly obtain unsecured loans of…
Read moreThe Peer-to-Peer Finance Association (P2PFA) has announces the appointment of Paul Smee as new independent Chair, succeeding Christine Farnish who is stepping down after a five-year term. This appointment follows a record-breaking year for the peer-to-peer lending sector with £2.9 billion lent through P2PFA platforms in 2017 alone. Smee brings more than 17 years’ experience…
Read moreA Responsible Finance Provider (RFP) is set to be wound down after Duff & Phelps was appointed as administrators. Midlands Community Finance was one of the first RFP in the East Midlands when it was set up in 2003. Midlands Community Finance was set up to make loans to financially excluded individuals and businesses that…
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