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 September 2022 by 9% compared with the same month in 2021. In the first nine months of 2022, new business was 3% higher than in the same period in 2021. The…
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Fraudulent activity for asset finance products has seen a 162% increase, according to fraud prevention service Cifas. As a result of the cost-of-living crisis, the asset finance industry is facing significant challenges, with rising costs causing a surge in fraud. The motor finance sector has been particularly hard-hit, seeing a 13% increase in fraud in…
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Business loans are set to fall by 3.5% in 2023 due to a deteriorating economic outlook according to new research by EY ITEM Club. The research found that the figures where a contrast to 2021, when many UK businesses focused on paying back pandemic debt, whilst this year has seen a return to growth in…
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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 August 2022 by 10% compared with the same month in 2021. In the first eight months of 2022, new business was 3% higher than in the same period in 2021. The…
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New analysis by UK Finance has indicated that lending to small and medium-sized enterprises SMEs has remained stable in the first half of 2022. The figures shows that gross lending to SMEs edged up higher to £5.1 billion in the second quarter of 2022, with demand for overdraft facilities remaining stable following a rise in…
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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 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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