Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell by 6% in September, compared with the same month last year. In Q3 2017, new business fell by 2% compared with the same quarter in 2016. While new finance for business equipment grew…
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Nearly half (44%) of SMEs have never checked their company’s credit score, according to research from RateSetter Business Finance. Credit scores are used by lenders to determine whether businesses have a good track record of repaying debt, and are therefore one of the key factors affecting an SME’s ability to get a loan. Credit reference…
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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 3% in August, compared with the same month last year. The plant and machinery finance sector reported new business up in August by 4% compared with the same month in 2016, while…
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The British Business Bank, the UK’s national economic development bank, has published The Benefits of Diverse Finance Markets for Smaller Businesses, a report that provides a fresh analysis of the need for greater choice for the UK’s smaller businesses looking for finance to grow. The report explains why and how the Bank works to help increase…
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Shire Leasing has announced that it has surpassed £100 million in own book lending. The news comes only 5 months after it secured a further £37.4m facility under the government-backed British Business Bank’s ENABLE Funding programme, in place to help it increase funding to smaller businesses. Mark Picken, Shire’s Managing Director, said “The £100 million figure is…
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ABN AMRO Commercial Finance (ACF) has appointed Andrew Johnston as UK Head of Sales SME. Johnston will lead a team of business development managers located across England and Wales focused on supporting SMEs with funding requirements up to £10m. With over 26 years’ experience in financial services, Andrew joins ACF from the Royal Bank of…
Read moreSiemens Financial Services (SFS) has appointed Julian Hobbs as Chief Executive Officer of the Commercial Finance division. Hobbs joined the SFS Commercial Finance business in December 2010, following previous sales and risk roles in the asset and receivables financing industries, more latterly as Managing Director of Deutsche Leasing’s operations in the United Kingdom and Ireland.…
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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 16% in June, compared with the same month last year, and by 12% in the second quarter of 2017 overall. The plant and machinery finance and IT equipment finance sectors reported new…
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Secretary of State for the Department for International Trade, Liam Fox, has today announced that UK Export Finance (UKEF) will partner with five of the UK’s biggest banks to deliver government-backed financial support to exporters more quickly and efficiently. Partnering with Barclays, HSBC, Lloyds Banking Group, RBS/NatWest and Santander, UKEF will also be able to extend its support…
Read moreBusiness finance provider, Henry Howard Finance, has appointed a new regional director for the South West to its Asset Finance division. With a career in finance spanning more than three decades, including 10 years as a director of asset finance at Lombard, Richard Arnold, joins the firm as South West regional director. Mark Crook, Group CEO…
Read moreLatest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew in May by 16% compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up in May by 28% and 31% respectively, compared…
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Star Asset Finance (SAF) has continued its consolidation of the SME asset finance market by completing the acquisition of Credo Holdings. Norwich-based Credo was established in 2005 as an independent provider of asset finance. The company has a growing own-book portfolio, coupled with brokered finance supported by a number of industry funders. Specialising in hard and soft…
Read moreThe NACFB has announced the appointment of Graham Toy as Chief Executive Officer. Toy joins the organisation as a permanent replacement for interim CEO, Rob Lankey, who left the Association recently at the end of his interim posting. Paul Goodman, Chairman of the NACFB said “Graham joins us at an important time for the NACFB.…
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