Credit, Collections & Insolvency News
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 2017. New business in the plant and machinery finance and business equipment finance sectors was up by 13% and 18% respectively, while commercial…
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BNP Paribas Asset Management announced that its SME (Small & Medium-sized Enterprise) Alternative Financing platform has completed its first transaction, a six-year senior unsecured amortising loan. The loan will enable a specialist recruitment services company based in the West of England to support its business growth. SME Alternative Financing offers BNPP AM’s client base differentiated and…
Read moreLatest statistics from the UK Finance’s business finance for April 2018 has revealed that UK business borrowing contracted slightly by 1.7 percent in the last 12 months. However, within industry sectors, there was a mixed picture with manufacturing maintaining strong growth at 8 percent while construction contracted by 6.3 percent in the year. In addition, UK business deposits grew…
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The number of small firms planning to decrease investment has hit an 18-month high, according to new research from the Federation of Small Businesses (FSB). It was announced on Friday that UK business investment fell to £46.1 billion between Q4 2017 and Q1 2018. Seven in ten (69%) small firms are not planning to increase…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell by 5% in March, compared with the same month last year, and by 3% in Q1 2018 overall. New finance for business equipment grew in March by 13% compared with the same month…
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The Financial Conduct Authority (FCA) has announced changes to the definition of income between consumer hire leases and consumer credit after a response to its consultation. In December of last year, the FCA made a call for leasing businesses to respond to the regulator. Under the current rule, FCA fees for regulated credit agreements such…
Read moreJust 11% of the £416 billion in the total stock of loans to businesses are now being provided on a fixed rate – dropping by a third from 18% two years ago – leaving businesses with huge exposure to rising interest rates, says Hadrian’s Wall Capital, the London-based specialist debt adviser. The drop came as…
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A new report by Aldermore titled Future Attitudes has revealed that just under a quarter (23%) of SMEs, representing 1.27million small and medium-sized businesses across the UK, are missing out on new business opportunities due to a lack of available funding a 4% increase on the previous year. The report, which surveyed over a thousand business…
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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 fell in February by 1%, compared with the same month last year. The plant and machinery finance and IT equipment finance sectors reported new business growth in…
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New annual figures, published by UK Finance – for the first time since it took over most of the activities of the Asset Based Finance Association – show a steady increase in invoice finance and asset-based lending in 2017. UK Finance members provided IFABL to 42,000 businesses at the end of 2017, worth a total…
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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 4% in January, compared with the same month last year. Including high-value deals, new business increased by 3% over the same period. The plant and…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is to host the Credit and Collections Technology Awards at this year’s CSA Gala Dinner on 13 September. The co-branded event, which will form part of the CSA’s UK Credit and Collections Conference (UKCCC), reflects the Association’s growing recognition…
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The British Business Bank’s has published its 2018 Small Business Finance Markets report reveals welcome evidence that the UK’s small businesses are diversifying in their choice of finance. Although still the predominant channel, there are encouraging signs that small businesses are looking beyond their main bank for finance and turning to alternative sources. The value of SME…
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