Credit, Collections & Insolvency News
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 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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Close Brothers has announced the acquisition of Novitas Loans. Novitas is a leading provider of loans to the legal sector and will become part of Close Brothers Invoice Finance and Rentals, led by David Thomson. Novitas specialises in providing working capital for law firms and also loans to their clients purchasing specific legal services, from divorce…
Read moreThe Asset Based Finance Association (ABFA) has appointed Michael Walsh as Chairperson of the organisation in Ireland and Mark O’ Rourke as Vice Chairperson. Walsh, who has over 25 years’ experience in the Irish banking sector, is currently Director of Ulster Bank Invoice Finance. Michael has held a number of senior roles within the company…
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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 8% in February, compared with the same month in 2016. The plant and machinery finance and business equipment finance sectors reported new business up in February by 11% and 24% respectively,…
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Asset based finance is increasingly taking market share from bank overdrafts as a key source of funding for SMEs, says the Asset Based Finance Association, the body representing the invoice finance and asset based lending industry in the UK and the Republic of Ireland. The ABFA explains that at any one time an average £9.5…
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Aldermore, the specialist bank, has made two senior appointments to its Business Finance risk team. Jon Flagg has joined as Risk Director for Asset Finance and Clive Gould has been appointed Risk Director for Invoice Finance. Having started his financial services career in corporate lending at NatWest, Flagg has over two decades of asset finance risk…
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Henry Howard Finance (HHF), has added to its management team by appointing Anne Williams as Chief Operating Officer (COO). Williams has more than two decades of senior management experience at GE Capital. Joining GE Capital in 1994, Mrs Williams quickly rose up the ranks, eventually spending more than three-and-a-half years as fulfilment leader, helping the…
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Aldermore have released a new report which reveals that a fifth (19%) of all small and medium-sized enterprises (SMEs) – equating to 1.04 million firms in the UK with under 250 employees – have missed out on at least one new business opportunity in the past 12 months due to a lack of available finance.…
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Asset based finance to businesses is up 13% since last year, hitting an all-time high of £22.2 billion, rising from £20.6 billion the previous year, says the Asset Based Finance Association (ABFA), the body representing the asset based finance industry in the UK and the Republic of Ireland. The ABFA says that a key driver…
Read moreThe Finance & Leasing Association (FLA) latest figures show that asset finance new business (primarily leasing and hire purchase) grew by 16% in January, compared with the same month in 2016. New business in the plant and machinery finance and business equipment finance sectors was up by 35% and 21% respectively, while commercial vehicle finance…
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Independent Growth Finance (IGF) has appointed Paul Edmeades as the firm’s Head of Underwriting for Asset Based Lending. Edmeades joins the business from Shawbrook Business Credit, where his role was Business Development Director for over two years. He has also held previous positions at GE Commercial Finance and NMB Heller, and has over 20 years’ experience in…
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Aldermore has announced the appointment of Rachel Lintott as Head of Internal Sales and Support for Asset Finance. Lintott has over 16 years of experience within financial services, beginning her career with Lombard in 2001, before spending the last 13 years supporting the development of Deutsche Leasing’s UK business. During her time at Deutsche, Lintott held several…
Read moreAldermore has announced that last year it provided over £1bIillon in new lending to SMEs, the backbone of the UK economy. The disclosure comes as the Bank releases its full year financial results for 2016. Aldermore’s Business Finance division comprises Asset Finance and Invoice Finance. In 2016, net loan growth in Asset Finance increased by…
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