Former Small Business Commissioner joins Optimum as Non-Executive Director

1st October 2021 Commercial Credit Management |

Optimum Finance has announced that it has recruited the former Interim Small Business Commissioner (SBC) as a Non-Executive Director. Philip King, who was also the former Chief Executive of the Chartered Institute of Credit Management (CICM), is joining Optimum. King has worked in the credit industry for more than 40 years and is an acknowledged…

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Just Cashflow and Optimum Finance agree invoice finance partnership

16th June 2021 Commercial Credit Management |

Just Cashflow has announced that it will be offering new and existing customers a full range of Invoice Finance facilities through a mutually beneficial relationship with Optimum Finance. Chief Commercial Officer, Martine Catton said, “Businesses emerging from a post COVID world are going to need access to the most appropriate financial products so it’s important…

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Time Finance appoint new CEO

11th June 2021 Appointments |

Time Finance has announced that Ed Rimmer has been confirmed as the permanent Chief Executive Officer (CEO) with immediate effect.  Having previously held the position of Chief Operating Officer until April 2020, Ed was reappointed as Interim CEO three months ago. Time Finance specialise in the provision or arrangement of funding solutions to UK businesses…

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Optimum Finance appoints new CFO 

21st May 2021 Appointments |

Specialist SME invoice finance company Optimum Finance has recruited Vicky Williams as Chief Financial Officer (CFO). Williams joins following the appointment of Chief Technology Officer (CTO) Gordon McIntosh in March this year. Williams appointment means that the new member of management fills the final slot in the Senior Leadership Team, with women holding a 60%…

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Nearly half of finance leaders make automation technology a key priority  

16th April 2021 Alternative Business Lending |

New research commissioned by commercial data and analytics provider Dun & Bradstreet has found 45% of 250 UK-based CFOs and finance leaders surveyed are embracing new technologies to increase efficiencies and 43% plan on improving their data quality as they look to increase their ability to manage disruption in 2021. The survey focused on strategies…

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Natwest to close Esme Loans

15th March 2021 Business Lending |

Esme Loans, NatWest’s standalone digital lending platform for SMEs and scale-up businesses, has announced that it will close. Launched as a pilot by NatWest in early 2017, Esme Loans offered an alternative financing option for SME customers looking for faster, unsecured business loans for a wide range of business purposes, alongside its range of conventional…

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Government-backed business lending hits almost £73bn

26th February 2021 Alternative Business Lending |

New HM Treasury figures have revealed that the banking and finance industry has approved another £2 billion of business loans over the past month, with the figure now rising to almost £73 billion to almost  1.6 million businesses so far through government-backed coronavirus lending schemes. Almost 29,500 Bounce Back Loans have been approved over the…

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Optimum Finance appoints new CTO

26th February 2021 Appointments |

Invoice finance firm Optimum Finance has announced the appointment ex-Microsoft Global Director, Gordon McIntosh, as Chief Technical Officer (CTO). Mcintosh has extensive experience with a decade working at Microsoft headquarters in Seattle, Washington. His most recent role at the tech giant was Global Director of Service Engineering for Microsoft’s Volume Licensing and OEM businesses in…

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Government loans create broker lending capacity fear

19th February 2021 Alternative Business Lending |

The volume of Government loans granted to help SMEs through the COVID-19 crisis will be having a potentially devastating impact on the availability of ‘traditional’ lending, causing alarm in the lender broker community according to new research by Allica Bank. The Bank suggests that SMEs could be starved of funding to fuel future growth because…

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‘Normal’ bank lending to SMEs decreased by 10% in 2020

12th February 2021 Alternative Business Lending |

Research by debt specialist ACP Altenburg Advisory reveals that ‘normal’ lending to SMEs fell from £168 billion in December 2019 to £152 billion in December 2020, with emergency coronavirus funding through the Coronavirus Business Interruption Loan Scheme (CBLIS) and the Bounce Back Loan Scheme (BBLS) seeing almost £61 billion lent to such firms by December…

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Over £18bn of private debt lending has helped finance businesses

12th February 2021 Alternative Business Lending |

A new report by the British Business Bank has revealed how private debt has become a valuable source of finance for smaller businesses across the UK since the 2008 economic crisis – with £18.4bn of lending in 2018 and 2019. Private debt is often the only or most viable funding solution for smaller businesses and…

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Growth opportunities highlighted despite economic uncertainty

4th February 2021 Alternative Business Lending |

A new survey by the Finance and Leasing Association (FLA) has indicated that the asset finance, consumer finance and motor finance industry sees opportunities for growth over the next year despite the heightened uncertainty caused by the latest restrictions to deal with the Covid-19 pandemic. The association surveyed its members with respondents divided on the…

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Regional distribution of business loans revealed

19th January 2021 Asset Finance |

New data published by the British Business Bank has revealed the regional distribution of loans under the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS). More than 1.4 million loans have supported businesses and protected jobs across all sectors. The figures show that the retail and construction sectors have benefitted…

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