Credit, Collections & Insolvency News
The winners of the second annual 2018 Credit & Collections Technology Awards have been revealed. There were sixteen winners from the eighteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The awards ceremony was held at Credit Services Association’s (CSA) annual Gala dinner at the…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) overall grew in July by 8% compared with the same month last year. New business for deals of up to £20 million increased by 10% over the same period. The IT equipment finance and…
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The Government-backed Bank Referral Scheme since the scheme which was launched in November 2016 means that small businesses have been able to source more than £15 million in funding. The scheme allows small businesses rejected by high street lenders to source alternative finance through the referral scheme. The scheme has enable financial support to nearly 19,000 small…
Read moreUK Finance has published its July Business Finance update indicating that lending to manufacturers grew by 7.1 per cent in the last 12 months, in contrast to a wider 2.2 per cent contraction overall in UK business borrowing. Whilst K business deposits for non-financial companies grew by 1.9 per cent in the last 12 months. Commenting…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole. The commercial vehicle finance and IT equipment finance sectors…
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Small firms are finding it increasingly costly to raise new finance, according to the latest research from the Federation of Small Businesses (FSB). The findings were announced ahead of a Bank of England (BoE) decision to raise interest rates to 0.75% Four in ten (42%) small firms describe new credit as ‘unaffordable’ in Q3 2018,…
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Commercial finance provider, Independent Growth Finance (IGF) has announced the appointment of Neil Kindness as Asset Based Lending (ABL) Director. Kindness has over 30 years’ experience in invoice finance and asset-based lending. Most recently Kindnessl was an invoice finance and asset-based lending specialist at Santander for over four years. Prior to this, Neil also held…
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UK Finance has published its latest business lending figures for June. Key data highlights include: Lending to manufacturers grew by 9.2 per cent in the last 12 months, in contrast to a wider 1.8 per cent contraction overall in UK business borrowing. UK business deposits for non-financial companies grew by 2.3 per cent in the…
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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 10% in May, compared with the same month in 2017. New finance for plant and machinery grew in May by 4% compared with the same month in 2017, while the commercial vehicle…
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CODE Investing has announced that it has entered into along-termm strategic partnership with BNP Paribas Asset Management as part of the development of its Alternative Financing platform. As an origination partner to BNP, CODE Investing will provide direct lending access to unsecured SME loans of between £500,000 and £5 million. Under the leadership of Stéphane Blanchoz,…
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Hitachi Capital UK has announced it has acquired of Franchise Finance, a specialist financial services provider to the franchising industry. The transaction boosts Hitachi Capital UK’s lending base to SMEs and franchisees, bringing considerable senior consultancy experience to the Group and helping to build a profitable portfolio within an underserved market. The acquisition also enables…
Read moreUK Finance has published its latest business update for May 2018. The key findings from the report include: Lending to manufacturers grew by 5.1 per cent in the last 12 months, in contrast to a wider 2.5 per cent contraction overall in UK business borrowing. UK business deposits grew by 3.1 per cent in the…
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The Number of new loans to SMEs has increased in Quarter 1 according to new figures from UK Finance Commenting on the data, Stephen Pegge, Managing Director, Commercial at UK Finance said “The number of new approved loans to SMEs grew slightly in the first quarter of the year, driven in part by increased demand…
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