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 July 2022 by 2% compared with the same month in 2021. In the first seven months of 2022, new business remained 2% higher than in the same period in 2021. The…
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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 June 2022 by 2% compared with the same month in 2021. In the first half of 2022, new business was also 2% higher than in the same period in 2021. The…
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Small business owners are concerned about the possibility of a recession, according to iwoca’s latest quarterly SME Expert Index. With both the cost of living and of doing business climbing, over three quarters of brokers surveyed (77%) say their small business clients are worried about the possibility of a recession. By contrast, fewer than 7%…
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The Government has announced that the Government-backed Recovery Loan Scheme to small businesses will be extended by a further two years. The Recovery Loan Scheme was originally launched in April 2021 to help businesses recovering from the Covid-19 pandemic and has supported almost 19,000 businesses with an average of £202,000 in support. The scheme has…
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The total value of lending to businesses has risen by £12 billion to £533 billion (in the 9 months to the end May 2022) as banks increase their lending following a sharp fall at the end of the CBILS and BBLS schemes according to research by ACP Altenburg Advisory. The research found that the rise…
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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 May 2022 by 5% compared with the same month in 2021. In the five months to May 2022, new business was 2% higher than in the same period in 2021. The…
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More than one in five (22%) small and medium sized enterprises (SMEs) that needed external finance and/or capital over the last couple of years were unable to access it according to research by Manx Financial Group. Over a quarter (27%) have had to stop or pause an area of their business because of a lack…
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Hampshire Trust Bank (HTB) has announced the appointment of Bill Moffat as Sales Manager within its Asset Finance division. Moffat brings over 20 years of experience in the asset finance sector industry, having previously worked as director of corporate sales at Advance Finance & Leasing Ltd for 13 years. Prior to that, he spent four…
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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 April 2022 by 16% compared with the same month in 2021. In the first four months of 2022, new business was 1% higher than in the same period in 2021. The…
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UK Finance’s latest Business Finance Review has indicated a gradual return to normal lending trends across SMEs during the first quarter of 2022. The research found a modest uptick in demand for cashflow finance through overdrafts and invoice finance and asset-based lending – as a consequence of both the end of Covid-19 restrictions and the significant…
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One in three UK-based small and medium-sized enterprises (SMEs) who sought access to finance were denied in the last year, according to new research from Yolt, Europe’s rapidly accelerating smart payments and data enrichment platform. This resulted in an estimated £3.7bn lost in potential funding for UK SME’s. The research found that in the last…
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The value of UK business loans written off by banks nearly doubled in the last quarter of 2021, rising 87% from £190 million in the third quarter to £356 million in the fourth quarter according to new research by ACP Altenburg Advisory. The research report found that write-offs of loans were subdued throughout Covid but…
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According to new research conducted by Time Finance, more than 70% of financial intermediaries believe their clients will need some form of funding support over the next 6 months to deal with and overcome the economic challenges that 2022 continues to throw at them. The findings come as many of their SME clients face supply…
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