Credit, Collections & Insolvency News
ABN AMRO Commercial Finance UK (ACF) has announced that Jeremy Harrison has been appointed as it’s new Head of Sales. Harrison will lead an origination team with a focus on providing flexible funding solutions to mid-market, corporate and international businesses with financing needs across the UK and Europe. Jeremy will report directly into ACF Commercial…
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Close Brothers Asset Management (CBMA) has appointed financial services veteran Alastair Wilson as its new Managing Director as it aims to enhance its offering across the UK. Wilson brings more than 30 years’ financial services experience and joins CBAM’s base in the Scottish capital from Brooks Macdonald, where he was a founding member of the…
Read moreUK plc borrowing rose for the eighth consecutive year in 2018/19, according to the latest Link Group UK plc Debt Monitor. Net debt (total borrowings less cash), jumped 5.8% to a new record of £443.2bn, even allowing for higher cash balances. Net debt has now risen by three quarters since the low point reached in…
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Commercial finance provider, Independent Growth Finance (IGF) has appointed Dave Pickup as ABL Director for the Thames Valley. Pickup specialises in improving SME’s cash flow through alternative funding. Providing facilities for every stage of a business’ journey including start-up finance, MBOs and acquisitions, as well as general working capital. His industry experience will support IGF’s…
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The latest Aldermore Future Attitudes study has revealed that nearly a fifth (19%) of UK SMEs have missed a new opportunity in the past 12 months due to a lack of available funding. Medium-sized businesses are worst hit, with over a quarter (28%) saying they have been affected. The report, which surveyed over a thousand…
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The finalists for the third 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 and hosted at the Credit Services Association’s UK Credit and Collections Conference, brings together credit and collections technology executives to honour the industry’s…
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Specialist lender, Aldermore has appointed Tim Boag as interim Business Finance Managing Director (MD) with overall responsibility for Invoice Finance, Asset Finance and Commercial Real Estate. Boag will replace Carl D’Ammassa who will leave the Bank on 15th July. Boag joins from Royal Bank of Scotland (RBS) where he was Managing Director for their Corporate…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 6% in May, compared with the same month in 2018. New finance for plant and machinery and commercial vehicles both grew by 8% in May…
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British businesses could have £593 billion locked up in excess working capital, potentially hampering growth and leaving them exposed to economic uncertainty, according to new research from Lloyds Bank Commercial Banking. The Lloyds Bank Working Capital Index combines the bank’s proprietary research and IHS Markit’s UK Purchasing Managers’ Index (PMI) data to calculate the working…
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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 7% in April, compared with the same month in 2018. New business in the plant and machinery finance and business equipment finance sectors was up by 8% and 9% respectively, while commercial…
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Seven in ten (70%) businesses that have attempted to raise capital have failed at least once, according to the new report from Smith & Williamson, the financial and professional services firm. Securing funding is often critical to helping businesses scale quickly and maximise their potential. However, it’s often not plain sailing. Two in five (39%)…
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More than half of small business owners say they want more help managing their finances, with almost a third adding they have lost sleep over money matters as Brexit continues to dominate the UK economy according to a report funded by small business finance broker Funding Options. Fifty-one per cent of small firms said they “need…
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The proportion of small businesses predicting growth for the next three-months has fallen to 34% – its lowest level for eight successive quarters and, for the first time, the proportion of businesses predicting significant expansion has fallen below 5%. The new research from Hitachi Capital Business Finance asked a nationally representative sample of 1,184 small…
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