Credit, Collections & Insolvency News
Credit applications and approvals hit seven-year low amid fears lenders will replicate approach to last recession, according to latest Small Business Index (SBI) by the Federation of Small Businesses (FSB). The research indicated that most small firms plan to grow over the coming 12 months but are being held back by struggles to recruit, increasing…
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UK net business borrowing is on course to fall sharply over 2021 as firms pay down existing debt far faster than predicted, according to the latest EY ITEM Club for Financial Services Forecast. The forecast estimates that net bank lending to UK businesses will fall to minus £1.6bn over 2021, following £35.5bn net being lent in 2020,…
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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 by 7% in October 2021 compared with the same month in 2020. In the ten months to October 2021, new business was 17% higher than in the same period in 2020. The…
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A report from the National Audit Office (NAO) says the Government only put basic anti-fraud checks on the Bounce Back Loan Scheme (BBLS) for small firms once more than £28 billion had already been paid out. The British Business Bank stepped up to deliver the Bounce Back Loan Scheme on behalf of Government to ensure…
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A report from the National Audit Office (NAO) says the Government only put basic anti-fraud checks on the Bounce Back Loan Scheme (BBLS) for small firms once more than £28 billion had already been paid out. Checks to ensure that a company was not applying for more than one bounce back loan were not put…
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Almost half of small businesses across the UK (49%) are relying on securing finance to help them fulfil their growth plans for the year ahead. After three consecutive quarters when small business outlook has remained unchanged (with 34% of business owners predicting growth), the new Business Barometer study from Hitachi Capital Business Finance suggests access…
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United Trust Bank (UTB) has announced that it has appointed Astrid Michael as its new Head of Sales for its Asset Finance division following the retirement of Keith Sangwin earlier this year. Michael has worked in the Asset Finance industry for 20 years and is a highly experienced professional with a strong track record of…
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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 by 6% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business was 20% higher than in the same period in 2020. 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 by 6% in August 2021 compared with the same month in 2020. In the eight months to August 2021, new business was 22% higher than in the same period in 2020. The…
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United Trust Bank (UTB) has announced two new appointments in its Asset Finance Credit team as it continues to break records for new written business. Gavin Mancey has joined the Bank as Underwriter and Daniel Idowu has been promoted to Underwriter having started in UTB’s Asset Finance Operations Team in 2018. Mancey has nearly 20…
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New figures released by the Finance & Leasing Association (FLA) has show that total asset finance new business (primarily leasing and hire purchase) grew by 3% in July 2021 compared with the same month in 2020. In the first seven months of 2021, new business was 24% higher than in the same period in 2020.…
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Banking and specialised financing software specialist, Sopra Banking Software has announced that its Sopra Financing Platform (SFP) pricing engine, Freehand is now available as Software-as-a-Service REST API. Currently, live with a major Asset Finance lender, the SFP Freehand Connect API provides access to the same rapid and accurate pricing calculations trusted by the industry right…
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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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