Credit, Collections & Insolvency News
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…
Read more
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…
Read more
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%)…
Read more
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…
Read more
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…
Read more
The announcement by Chancellor Philip Hammond that HM Revenue and Customs (HMRC) would revert to secondary preferential creditor status for taxes collected on its behalf in all insolvency situations will likely have a significant negative impact on lending to UK Plc, according to analysis by Duff & Phelps. In a return to the pre-Enterprise Act…
Read more
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 11% in March, compared with the same month last year, and also by 11% in Q1 2019 overall. New finance for plant and machinery grew in March by 11% compared with the…
Read more
White Oak has announced it has appointed a new Chief Executive Officer (CEO) Managing Director following Peter Alderson’s retirement from the company. Carl D’Ammassa will become the firm’s new CEO. D’Ammassa joins White Oak UK from Aldermore Bank, where he most recently served as group managing director of the bank’s business finance division. There, he…
Read moreBusiness lenders White Oak and Spotcap have entered into a partnership to improve access to finance for UK businesses. White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides fully unsecured business loans, without the need for a personal guarantee. With over 400 lenders operating in the UK market, yet…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew in February 2019 by 15%, compared with the same month last year. The commercial vehicle finance and IT equipment finance sectors reported new business growth in February of 36% and 10% respectively, compared…
Read more
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 9% in January, compared with the same month last year. The plant and machinery finance and IT equipment finance sectors reported new business growth in January of 26% and 45% respectively, compared…
Read more
Paragon Asset Finance has made a series of new appointments as it seeks to grow its lending commitment to British businesses. Jan Greenhalgh is among the recent uptake of new starters as Head of New Business in Asset Finance. She brings a wealth of experience and specialist knowledge and is focusing on delivering, speed, consistency…
Read moreThe National Association of Commercial Finance Brokers (NACFB) has launched an enhanced online portal, findsmefinance, offering UK businesses access to the trade body’s membership of independent finance brokers. The free directory enables UK businesses seeking finance to simply filter their funding requirements by loan size, type and location and are then presented with a range…
Read more