Credit, collections & insolvency news
The latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 12% in September, compared with the same month last year – the thirty-sixth consecutive month of growth. In Q3 2016, new business was also up by 12% compared with the same…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 18% in August, compared with the same month last year. New business reported by the commercial vehicle finance and business equipment finance sectors grew in August by 28% and 24% respectively, while…
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Paragon Bank PLC’s asset finance division, Paragon Bank Asset Finance, has added to its business with the acquisition of one of the UK’s leading asset finance brokerages, Premier Asset Finance (Premier). Premier sources in excess of £100 million of lending per annum to a range of SME customers. Headquartered in Edinburgh, Premier has a national…
Read morePraetura Asset Finance a specialise provider of alternative funding to SMEs has secured £18m investment from British Business Bank Investments, the commercial arm of the British Business Bank, to boost the firm’s lending capabilities. Praetura launched just over two years ago, has already reached an £85 million turnover, providing asset-based finance, hire purchase, finance leasing and…
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United Trust Bank has promoted Robert Owen to Managing Director. Owen was responsible for the specialised mortgages division. Jo Edwards has also joined United Trust Bank as Business Development Director – Mortgages and Bridging.
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Aldermore has appointed Lesley Rolfe as the Head of Asset Finance Operations. Carl D’Ammassa, Group Managing Director, Business Finance at Aldermore, said: “Aldermore’s Business Finance division is continuing to grow at an impressive rate, giving us the opportunity to expand our team and improve our operations and processes to drive this growth even further and improve…
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Ultimate Finance has appoint Andrew Casey to it’s asset finance as Regional Director. Andy Ribbins Managing Director of Ultimate Asset Finance said “These are really exciting times for Ultimate and Andrew is a great addition to help us build our presence in the East of England. He joins us with an excellent reputation in the area, amongst…
Read moreThe construction sector saw the highest number of company insolvencies in the first quarter of the year, despite numbers falling year-on-year, latest data from the Insolvency Service has shown. In total 672 construction firms went bust in England and Wales between January and March, outstripping other sectors such as the ‘wholesale and retail trade; repair…
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United Trust Bank has appointed Richard Murley as its new Chairman
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IGF has appointed Richard Spielbichler as ABL Director for the North West whilst Jeff Greenfield joins as ABL Director for North London and the Home Counties.
Read morehttp://www.cityam.com/248074/small-businesses-lost-6bn-last-year-not-chasing-bad-debts
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The latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2016) reveal that Company Insolvency numbers have gone down. The main findings of the report were: Total company insolvencies were lower than the previous quarter and also decreased on the year This decrease was mainly driven by a decrease in compulsory…
Read moreOther new appointments to the board include Mike Randall, Jo Davis (Locke Lord), Fran Watson (Siemens Financial Services), Gavin Wraith-Carter (Hitachi Capital Business Finance), Gabriele D’Uva (GE Capital) and John Chadwick (Acquis Insurance Management).
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