Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 22% in July 2020 compared with the same month in 2019. In the seven months to July 2020, new business contracted by 31% compared with the same period in 2019. The…
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Latest figures from the HM Treasury have shown that almost £53 billion of credit has been issued through the Government’s emergency coronavirus lending schemes, with more than 1.23 million businesses benefitting. Around £35.5 billion has been approved through the bounce back loan scheme for small companies, with £13.7 billion provided to over 60,400 businesses through…
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Invoice finance provider, Optimum Finance appoints has announced three new appointments. The company welcomes James John as its new Head of Risk, Rebecca Salt as Regional Sales Director for the Midlands and Dany Boyle as its new Partnerships Manager. James John joins Optimum finance with 23 years’ experience. He started off as an auditor for…
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Latest HM Treasury figures have reveal that just under 1.2 million businesses in the UK have been supported by finance from lenders through government-backed coronavirus lending schemes. On the three-month anniversary of the Bounce Back Loan Scheme (BBLS), the figures reveal that over 1.13 million small and micro businesses have now been backed by the…
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New figures have revealed that over 1.17 million businesses in the UK have received finance from lenders through the government-backed coronavirus lending scheme. The banking and finance industry has now provided over 1.1 million small and micro businesses with £33.7 billion through the Bounce Back Loan Scheme (BBLS). The Coronavirus Business Interruption Loan Scheme (CBILS)…
Read moreThe banking and finance industry has approved £47.9 billion to over 1.1 million businesses so far through government-backed coronavirus lending schemes, HM Treasury statistics have revealed. The Bounce Back Loan Scheme (BBLS) continues to provide new support to thousands of small and micro businesses every day, with 1.08 million businesses having received a total of…
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More than 1.1 million businesses backed by £46 billion through Covid-19 lending schemes according to the latest HM Treasury figures. The figures show that the banking and finance industry has approved £46.3 billion to over 1.1 million businesses so far through government-backed coronavirus lending schemes with Almost 1.05 million small and micro businesses have received…
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Invoice finance business Optimum Finance has announced its latest technological innovation as part of its mission to use technology and automation to revolutionise the sector and benefit its SME customers. The company partnered with artificial intelligence (AI) and machine learning experts Critical Future to develop a first-in-sector machine learning capability which can identify companies that…
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The number of loans and overdrafts approved to SMEs rose by 41.9 per cent in Q1 2020 compared with the previous quarter, according to UK Finance’s latest Business Finance Review figures. While there was growth across all sectors, the increase was especially marked in accommodation & food service (up 74 per cent) and recreation and…
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The banking and finance industry has supported more than one million businesses through the three government-backed lending schemes in just over three months, figures published by HM Treasury today have revealed. Almost 1.02 million facilities worth £42.9 billion have been approved through the Coronavirus Businesses Interruption Loans Scheme (CBILS), Bounce Back Loan Scheme (BBLS) and…
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Business lending figures have now risen to £40.7 billion to over 972,000 businesses through the three major government-backed lending schemes according to new figures from HM Treasury. Three months to the day after the launch of the Coronavirus Business Interruption Loan Scheme (CBILS), lenders have approved over 50,000 facilities through the scheme for businesses needing…
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International technology-led services and payments specialist, Equiniti Group has announced the launch of an enhanced Know-Your-Customer (KYC) service for asset-based and invoice finance lenders. Equiniti’s dual automated and managed service helps lenders efficiently address the increasing KYC demands brought on by evolving regulation. Furthermore, the service provides futureproof access to third-party data sources through universal…
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Optimum Finance has announced that its Founding Director and Chief Executive Officer (CEO) and veteran of the invoice finance sector Richard Pepler sadly passed away on 5th June 2020. The Optimum Finance team, supported by investors JRJ Group, have expressed their sincere condolences to Richard’s family. Richard was well-known and much-loved in the industry and…
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