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) grew in May 2023 by 13% compared with the same month in 2022. In the five months to May 2023, new business was also 13% higher than in the same period in 2022.…
Read more
Two in five (40%) small and medium sized enterprises (SMEs) have had to stop or pause an area of their business because of a lack of finance over the last couple of years – a significant increase from 27% of SMEs recorded in last year according to new research commissioned by Manx Financial Group. The…
Read more
Access to finance is becoming a critical issue for UK small businesses, with new research finding that more than half (53%) would have to put plans on hold if they were unable to secure finance. The research from Novuna Business Finance underlines how important access to finance is for the small business sector at a…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in April 2023 by 12% compared with the same month in 2022. In the first four months of 2023, new business was 13% higher than in the same period in 2022. The…
Read more
Latest data from UK Finance has indicated that in the first quarter lenders saw a rebound in applications for both loans and overdrafts, with banks reporting quarter-on-quarter growth of 20% and 11% respectively with the increases may indicating that SME demand for finance is turning a corner. The weak levels of demand for finance from…
Read more
Equipment finance specialist Kennet Equipment Leasing has announced a partnership with Leasepath, the cloud-first Intelligent Workplace Finance Origination (LOS) and Customer Engagement (CRM) platform built for asset finance1. Part of the Star Asset Finance network, Kennet has adopted the true cloud Leasepath platform across the entire enterprise, giving them a centralised hub to empower their…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in March 2023 by 14% compared with the same month in 2022. In Q1 2023, new business was also 14% higher than in Q1 2022. The business new car and commercial vehicle…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in February 2023 by 20% compared with the same month in 2022. In the first two months of 2023, new business was 13% higher than in the same period in 2022. The…
Read more
A report by Oxera commissioned by SME lender Allica has found that proposed changes to UK bank capital rules could result in a £44 billion drop in lending to SMEs. The research suggests that the Prudential Regulatory Authority (PRA) could put up to £44 billion of SME lending at risk. In November 2022, the PRA…
Read more
UK Finance has reported that a loss of confidence resulted in lower SME borrowing in Quarter 4 (Q4) 2022. The report showed that gross lending by the main high street banks totalled £18.4bn over 2022. Due to economic uncertainty and rising interest rates, SMEs were more cautious in the latter half of the year with…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in January 2023 by 8% compared with the same month in 2022. In the twelve months to January 2023, new business was 6% higher than in the same period in 2022. The…
Read more
Asset-based lending specialist, Cynergy Business Finance (CBF) has announced that it has appointed Lorraine Udale as Head of Operations. Udale will bring nearly 30 years’ experience within the asset-based lending, invoice discounting and factoring sectors to the team. She joins the Manchester-headquartered business from Praetura Invoice Finance, where she had previously worked as operations director…
Read more
Metro Bank has appointed Kevin Tonge as Regional Director for Asset Finance. Tonge has over 20 years’ industry experience and joins from Aldermore Bank where he has held a number of asset finance roles for the last nine years, as well as holding other senior positions at Novuna and ING Lease UK. Tonge will focus…
Read more