Credit, Collections & Insolvency News
International SME funder, Bibby Financial Services (BFS), and regional accountancy and specialist SME business advisory firm, Azets, have announced a strategic partnership to provide whole-turnover invoice finance facilities. The agreement will see BFS become Azets’ preferred partner for funding facilities up to £250,000, enabling its network of 3,500 accountancy and advisory specialists to access working…
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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 February 2022 by 2% compared with the same month in 2021. In the first two months of 2022, new business was 5% higher than in the same period in 2021. The…
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Cash management platform Satago has announced that it has partnered with Lloyds Bank with an aim to transform access to short-term finance for its business customers. The agreement builds on the existing partnership, extending the use of Satago’s technology to help Lloyds Bank customers get access to cash against invoices due. It will power a…
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New research by the British Business Bank has indicated that lending to small businesses has returned to pre-pandemic levels. The Small Business Finance Markets Report 2022 found that 2021 was a year of contrast between debt and equity smaller business finance markets. Bank lending returned to pre-pandemic levels while equity investment in smaller businesses reached…
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More than two thirds (67%) of small and medium sized enterprises (SMEs) globally have been unable to secure sufficient, or any, funding on at least one or more occasions, according to a new report from cloud banking platform Mambu. The ‘Small business, big growth’ report surveyed over 1,000 SME owners globally, who set up their…
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Optimum Finance has announced the appointment of Mike Stevens as Regional Director. Stevens, re-joins the team at Bristol-based specialist invoice finance provider from Peak Cashflow. Optimum has invested heavily in its team in 2021 with 14 new hires, including the expansion of its technology team by 350%. This rapid growth has resulted in Optimum being…
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Santander UK has announced the appointment of Alan Horton as its Head of Recruitment sector for the invoice finance team. Horton will be responsible for understanding the needs of the recruitment sector and ensuring the invoice finance facilities the bank offers to recruitment clients are appropriate to help them achieve their goals. Invoice finance is…
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Credit applications and approvals hit seven-year low amid fears lenders will replicate approach to last recession, according to latest Small Business Index (SBI) by the Federation of Small Businesses (FSB). The research indicated that most small firms plan to grow over the coming 12 months but are being held back by struggles to recruit, increasing…
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Specialist Invoice Finance provider, Optimum Finance has bolstered its team with three new appointments across the Marketing and Finance departments. Jo Maniatt joins as Marketing Director, Szym Wasilewski as Finance Manager and Liam O’Shea as Financial Accountant. Maniatt, previously International Marketing Manager for global brand Bisley Office Furniture, brings with her a wealth of strategic…
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A report from the National Audit Office (NAO) says the Government only put basic anti-fraud checks on the Bounce Back Loan Scheme (BBLS) for small firms once more than £28 billion had already been paid out. The British Business Bank stepped up to deliver the Bounce Back Loan Scheme on behalf of Government to ensure…
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A report from the National Audit Office (NAO) says the Government only put basic anti-fraud checks on the Bounce Back Loan Scheme (BBLS) for small firms once more than £28 billion had already been paid out. Checks to ensure that a company was not applying for more than one bounce back loan were not put…
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independent invoice financier, Bibby Financial Services (BFS), is to open a new central London office as it looks to grow its support for SMEs and intermediaries in the South East of England. BFS’s new premises are located at 30 Crown Place in the heart of the City, between Liverpool Street and Moorgate stations. Speaking of…
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Almost half of small businesses across the UK (49%) are relying on securing finance to help them fulfil their growth plans for the year ahead. After three consecutive quarters when small business outlook has remained unchanged (with 34% of business owners predicting growth), the new Business Barometer study from Hitachi Capital Business Finance suggests access…
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