Credit, Collections & Insolvency News
Credit Connect Media hosted its second Commercial Credit & Collections Conference last week at the Midland Hotel in Manchester which saw ten trade credit and insolvency professionals from various industry sectors meet to discuss the latest industry challenges. In the seventh edition of the Commercial Credit & Collections Conference series, hosted by Credit Connect Media,…
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New research by EY ITEM Club has found that total bank lending grew by 2.6% this year (up from – 2.2% in 2023), 3.7% in 2025 and 4.3% in 2026. The research forecasts that business lending is set. to grow 3.1% this year (up from – 2.1% in 2023), 5.6% in 2025 and 6.2% in…
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Invoice finance company, eCapital Commercial Finance has acquired Optimum SME Finance. David Tilling, CEO of Capital said “We are thrilled to welcome Optimum’s clients and team as part of our ambitious growth strategy. This acquisition broadens our national reach with a new regional presence in Bristol and reinforces our commitment to becoming the premier, fully…
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SMEs are switching to monthly payments for insurance bills as premium increases put pressure on their businesses according to new research Premium Credit. The research showed that 43% value the ability to pay for insurance monthly through premium finance or finance offered by insurers compared with 32% who prefer to pay in a lump sum.…
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A third of commercial finance brokers struggle to find lenders prepared to fund business acquisition deals according to latest survey data from Asset Advantage. Alongside difficulties with lender appetite, two-in-ten brokers said they find it hard to secure the right loan value for potential acquisitions. Respondents also shared challenges with securing all the necessary information,…
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Economic uncertainty and the prospect of tax changes being introduced in the upcoming Budget are behind a slowing appetite for external funding according to Atom bank’s ‘SME Pulse’ for Q3 2024. The quarterly poll of commercial brokers found that there has been a drop off in demand from SMEs for funding. While nearly half (47%)…
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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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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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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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