Credit, Collections & Insolvency News
Duncan Swift, President of insolvency and restructuring trade body R3 has responded to the Queen’s Speech Swift said “We hope the Government does not miss the opportunity to make progress with much-needed – and long-awaited – corporate insolvency and restructuring reforms. They don’t appear to have been included in any of the planned bills, and…
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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 2% in October 2019 compared with the same month in 2018, and has risen by 6% in the first ten months of 2019. Within this overall increase, the IT equipment finance…
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Henry Howard Finance Group has announced a change of name to Propel in support of the company’s strategic positioning. The company offers SME funding to UK equipment suppliers. Anne Williams, Chief Operating Officer said ‘’Our Propel Promise, being small enough to care and deliver a brilliant personal service to our customers, and big enough to have…
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Bibby Financial Services (BFS) has appointed Jim Davis as Managing Director (MD) for Construction Finance as it looks to further its support for SME businesses in the sector. Joining BFS from Yorkshire Bank in 2011, Davis held the role of Head of Sales for the West Midlands since 2011and was instrumental in the opening of BFS’s…
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Bank lending to small and medium sized (SME) retailers in the UK has fallen 6% from £15.6 billion to £14.7 billion since the Brexit vote in 2016, meanwhile large retailers have benefited from a sharp rise in bank lending, says accountants and business advisors, Moore. Over the same period that lending to SME retailers has…
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The Bank of England (BoE) says that UK firms face their biggest lending squeeze since the financial crisis. The BOE survey found that British businesses are facing the biggest lending squeeze since the financial crisis amid rising uncertainty about the health of the economy. The survey showed that corporate default rates have been increasing over the…
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A survey of commercial finance brokers undertaken by insurance provider, Purbeck, has uncovered an increasing demand by lenders for personal guarantees to secure business finance. In the survey, 47% of brokers said they had seen a rise in demand for personal guarantees as part of a new business finance package, in the past year. This…
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Credit Connect has announced its inaugural Credit & Collections Technology company power list for 2019. The power list is the first edition of what will be an annual round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements…
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SME financial provider, Bibby Financial Services (BFS), has announced the appointment of Karl Leitelmayer as its Head of Business Centre for Trade Finance. Leitelmayer is an invoice finance specialist with over 30 years’ experience in the financial services sector. He joins BFS after 19 years at Lloyds Banking Group, most recently as Head of Broker Channel Sales…
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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 5% in September, compared with the same month in 2018. In Q3 2019 as a whole, new business was also 5% higher than in the same quarter in 2018. New finance for…
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Haydock Finance has announced the appointment of Andrew Roberts as Asset Manager. Roberts’ experience in the industry stretches 17 years. Having first worked at Alliance & Leicester’s Commercial Finance and then, up until September of this year, with Santander UK where he held the position of asset manager for 9 years, directly responsible for a…
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Bibby Financial Services (BFS) has appointed Jade McClellan as a new Relationship Manager for Trade Finance. McClellan joins BFS with 18 years’ experience in the financial services industry, having previously spent six years in the business working as a risk manager in the trade finance team. Prior to her new appointment, McClellan worked as collections…
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Business lenders Ultimate Finance and Bibby Financial Services (BFS) has announced its support for the Business Finance Council’s SME Finance Charter, in a bid to improve access to finance and help for businesses during Brexit and beyond. The Charter provides a framework for financiers to outline specific commitments to SMEs in relation to preparing for…
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