Credit, Collections & Insolvency News
Net lending to SMEs shrank to £500m last year, compared with £700m in 2017, according to a new report by the British Business Bank. The study also reveals a dramatic slowdown in the growth of alternative forms of funding, including peer-to-peer lending and asset finance. Lending through peer-to-peer platforms rose by 18% last year, compared…
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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 in December by 7% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. The plant and machinery finance and commercial vehicle finance sectors reported new business…
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Haydock Finance has announced the appointment of John Jenkins as Chief Executive Officer Jenkins brings with him over 30 years of experience in finance, having held very senior positions within a number of industry-leading companies including Lloyds TSB, GE Capital & Amicus Finance plc. Jon Wilkinson, Chairman of Haydock Finance, said: “The Board carried out a…
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Praetura Asset Finance has announced the expansion of their portfolio, through the acquisition of Kingsway Asset Finance. The acquisition will create one of the largest independent asset finance companies in the UK. With a combined loan book of over £100 million, the enlarged group will offer SMEs a wide range of services to help them…
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UK Finance has published its latest business finance update for December 2018 which reveals that lending to manufacturers grew by 8.4 percent in the year to December 2018, in contrast to a 0.3 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the transport and accommodation and food service…
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New research from Experian has revealed businesses in the South West have the strongest average business credit scores in Britain, while London ranks as the lowest. Organisations in the South West have an average business credit score of 54.7 – up from 53.4 last year. A business with this score is considered a below average…
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Bibby Financial Services (BFS) has appointed Sue Pengelly as Business Development Manager (BDM), South West of England, as it looks to expand its support for small and medium-sized businesses in the region. In her new role, Sue will primarily focus on securing new business opportunities for BFS, with a focus on Devon, Cornwall and Somerset,…
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Independent Growth Finance (IGF) has announced two appointments in its asset-based lending Sales team. Nigel Hibbert joins as ABL director to strengthens IGF’s presence in the South East. Hibbert has 17 years’ experience working in asset-based lending and invoice finance. Hibbert will be responsible for strengthening relationships in the South East with a focus on asset-based…
Read moreTotal business volumes in the financial services sector fell slightly in the three months to December, marking the first contraction of demand since September 2013. That’s according to the latest CBI/PwC Financial Services Survey. Meanwhile, sentiment among financial services deteriorated further, rounding off three full years of flat or falling optimism. The quarterly survey of 84…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was at a similar level to the same month in 2017. The plant and machinery finance and business equipment finance sectors reported new business up in November by 9% and 8% respectively,…
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Accountants are helping their clients find the right funding options and referring them to external providers. Research from business finance company MarketInvoice reveals that UK accountants are most likely to refer their clients to banks, with invoice finance as the second most popular lender of choice. Two thirds (66%) of accountants surveyed said that they…
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Hampshire Trust Bank (HTB) has announced the relaunch of its Asset Finance division as Specialist Business Finance. The division has launched a new specialist business line, Structured Asset Finance, to complement the existing core offering which will remain unchanged. The new structure comprises broker asset finance, wholesale lending and a series of specialist business lines, the…
Read moreA new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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