Credit, Collections & Insolvency News
Nearly a third of commercial finance brokers say they frequently encounter difficulties in securing funding for their clients due to changes in funder policies, latest survey data from Asset Advantage can reveal. Just over 27% of brokers say they encounter challenges frequently or very frequently, more than half (56.8%) face difficulties on occasion. The biggest…
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The latest asset finance industry index, released by Acquis, has revealed that the value of new equipment finance deals in the UK during the first half of 2024 has seen a 14% decrease on the same period in 2023. The latest instalment of the Index has also revealed that lease inceptions for the first half…
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A survey by Purbeck Personal Guarantee Insurance has found that 60% of small business owners have felt in the dark about the risks and 25% have backed out of a loan because it had a personal guarantee attached. Todd Davison, MD of Purbeck Personal Guarantee Insurance said “We welcome the strengthening provisions on personal guarantees by the Lending…
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Latest UK Finance data shows that overall gross lending was broadly stable at around £4 billion in Q2 2024. This is very similar to gross lending in Q1 2024, but again higher than a year previously when it was £3.6 billion. Growth in lending over the first half of this year varied across sectors and…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in July 2024 by 9% compared with the same month in 2023. In the seven months to July 2024, new business was 5% higher than in the same period in 2023. The…
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Nearly a third (31%) of commercial finance brokers have seen a growing shift among clients towards business loans to secure funding, new survey data from Asset Advantage can reveal. For nearly a quarter of brokers (24%), the biggest driver among clients towards business loans is more complex projects which require flexible funding routes. Nearly two-in-ten…
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Time Finance has to announced role changes within three of their senior management team. Steve Nichols, Sharon Bryden and Lorraine Neyland are all receiving new titles and expansion of roles within the group. Nichols, who was formerly Director of Asset Finance, is now named Managing Director of Asset Finance, delegating further responsibility to deliver the…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in June 2024 by 7% compared with the same month in 2023. In the first half of 2024, new business was 5% higher than in the same period in 2023. The business…
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New research by Novuna Business Cash Flow has found that 33% (a third) of small and medium-sized enterprises (SMEs) in the UK urgently require financial support within the next year to continue their operations. This survey highlights the heavy reliance on personal sources of finance, with 19% of SMEs resorting to using their own savings,…
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More small businesses applied for finance to support growth initiatives in Quarter 2 (Q2) 2024, with funding released at more than at any other time in the past three years according to the latest analysis by Purbeck Insurance Services. The data showed that 19% of small business owners securing personal guarantee-backed loans in Q2 were…
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Credit Connect Media hosted the return of its Commercial Credit & Collections Conference last week at the Met Hotel in Leeds which saw trade credit, insolvency, and economic change and discussed by fourteen leading credit, collections and insolvency professionals. In the sixth edition of the Commercial Credit & Collections Conference series, hosted by Credit Connect…
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The British Business Bank has relaunched its Growth Guarantee Scheme with the approval of 41 lenders to provide loans to thousands of small businesses over the next two years. Jeremy Hunt, the former chancellor, first confirmed the scheme’s continuation in his March budget. The Growth Guarantee Scheme is designed to support access to finance for…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in April 2024 by 31% compared with the same month in 2023. In the first four months of 2024, new business was 7% higher than in the same period in 2023. The…
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