Credit, Collections & Insolvency News
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.…
Read moreNew research conducted by RateSetter Business Finance reveals how credit conditions look to be tightening again, with over 400,000 small businesses now interested in finding an alternative to the banks for a loan. When asked, 32% of SMEs that had considered raising finance said that it was now harder than six months ago. During this…
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New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in April, compared with the same month last year. The plant and machinery finance sector reported new business up in April by 9%, while new finance for business cars grew…
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Almost half (48%) of SMEs felt that British businesses are missing out on opportunities because of a reluctance to borrow, and 45% believe that the economy is being stifled because they won’t borrow. Yet, almost a third (27%) of those SMEs are holding back the growth of their own business, due to a ‘fear of funding’,…
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Independent Growth Finance (IGF) has announced the appointment of three senior hires at its offices in London and Manchester with a new ABL Director and two Regional Sales Directors joining the firm. Jamie Gould will join IGF Business Credit as ABL Director for London and South East, Gould has over 35 years’ experience in the alternative finance…
Read moreGener8 Finance has announced that it has agreed on terms to sell its invoice finance business to 1pm Plc, a stock market listed provider of asset based lending facilities to the UK SME sector. Asset Finance specialist, 1pm provides asset finance, business loans and related financial products for both hard and soft assets and has…
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Richard Jones has been named as the new chairman of the Finance & Leasing Association (FLA). Jones, Managing Director at Black Horse, was already a board director at the FLA before taking on the chairman role. Jones the Managing Director at Black Horse, He has replaced outgoing chairman Nigel Clibbens, whose term has ended. Stephen Sklaroff,…
Read moreAldermore, has announced the appointment of James Pigrem as Business Development Manager within the Manufacturer & Dealer Services team in its Asset Finance division. Pigrem has over 13 years’ experience in the industry, most recently working for GE Capital Equipment Finance where he held variety of roles. James was a member of the field-based sales team…
Read moreNew figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in March, compared with the same month last year, and by 9% in Q1 2017 overall. For deals of up to £20 million, asset finance new business in March grew…
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