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 by 39% in June 2021 compared with the same month in 2020. In the first half of 2021, new business was 28% higher than in the same period in 2020. The plant…
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DF Capital has announced that it has appointed Richard Baxter as its Director of Credit, leading the business’ first line credit underwriting and sanctioning, portfolio management and audit teams. As part of DF Capital’s senior leadership team, Baxter will report into CEO Carl D’Ammassa and will be based at the company headquarters in Manchester. Baxter…
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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 106% in May 2021 compared with the same month in 2020. In the first five months of 2021, new business was 26% higher than in the same period in 2020. The…
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Time Finance has announced that Ed Rimmer has been confirmed as the permanent Chief Executive Officer (CEO) with immediate effect. Having previously held the position of Chief Operating Officer until April 2020, Ed was reappointed as Interim CEO three months ago. Time Finance specialise in the provision or arrangement of funding solutions to UK businesses…
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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 80% in April 2021 compared with the same month in 2020. In the first four months of 2021, new business was 15% higher than in the same period in 2020. The…
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Four new banks were launched in the UK in the first ten months of the pandemic, adding to the 41 launched over the previous seven years, according to analysis by ACP Altenburg Advisory. The debt advisory specialist says that the new banks provide a sign of the growing options available to businesses looking for finance as…
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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 15% in March 2021 compared with the same month in 2020. In Q1 2021, new business grew by 1% compared with Q1 2020. The commercial vehicle finance sector reported new business…
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BDO’s Midlands office has announced the has appointed a senior corporate finance specialist to head up its new asset-based lending (ABL) advisory service. Drew Johnson joins as Director from PNC Business Credit, where he worked as a Business Development Director, originating, structuring and executing SME, mid-market ABL transactions, ranging from £1m to £150m. He has 20…
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The Finance & Leasing Association (FLA) and the British Vehicle Rental and Leasing Association (BVRLA) have asked the Government to amend the Super Deduction initiative to boost investment in plant and machinery by extending it to include leasing and plant hire, two of the most common ways that these assets are acquired by businesses. In…
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UK Finance’s latest Business Finance Review figures have shown that gross lending to small and medium-sized businesses across the UK totalled £63.6 billion last year, some 162% higher than 2019. This underscores a significant rise in demand for finance as businesses responded to the pandemic. Government-backed lending schemes, alongside other loan and overdraft facilities, have…
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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 1% in February 2021 compared with the same month in 2020. The plant and machinery finance and commercial vehicle finance sectors reported new business up in February by 14% and 8%…
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A new broker index has identified cash flow as a key reason for SMEs applying for finance. iwoca’s new SME Index, which covers a four-week period in January has revealed that 41% of brokers said the most requested reason for applying for unsecured finance was to ‘manage the day to day cash flows’. One in…
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Latest Government figures have shown that the banking and finance industry has provided more than £75 billion in finance to over 1.6 million UK businesses through government-backed coronavirus lending schemes according to newly published HM Treasury data. Lenders have provided finance to over 30,600 businesses through Bounce Back Loans over the past month, bringing the…
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