2021 Credit & Collections Technology Awards shortlist and Think Tank announced

2nd September 2021 Alternative Business Lending |

The finalists for the fifth annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect Media will host the Awards ceremony as a face to face event at the Midland Hotel, Manchester on Thursday 4th November. This year’s…

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Asset finance grew by 15% in March

10th May 2021 Asset Finance |

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 15% in March 2021 compared with the same month in 2020. In Q1 2021, new business grew by 1% compared with Q1 2020. The commercial vehicle finance sector reported new business…

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White Oak announces appointment of Director of Risk & Compliance

29th April 2021 Appointments |

Business lender White Oak has announced the appointment of Natasha Powell as Director of Risk & Compliance. Powell will take the lead on managing the firm’s regulatory compliance risk framework as part of White Oak’s commitment to regulatory excellence. The role will involve identifying, assessing, and reporting on risks; providing oversight and challenge to the…

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Government urged to amend Super Deduction initiative

19th April 2021 Asset Finance |

The Finance & Leasing Association (FLA) and the British Vehicle Rental and Leasing Association (BVRLA) have asked the Government to amend the Super Deduction initiative to boost investment in plant and machinery by extending it to include leasing and plant hire, two of the most common ways that these assets are acquired by businesses. In…

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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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SME Business lending grew by 162% in 2020

9th April 2021 Alternative Business Lending |

UK Finance’s latest Business Finance Review figures have shown that gross lending to small and medium-sized businesses across the UK totalled £63.6 billion last year, some 162%  higher than 2019. This underscores a significant rise in demand for finance as businesses responded to the pandemic. Government-backed lending schemes, alongside other loan and overdraft facilities, have…

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White Oak Leases & Loans appoints Chief Risk Officer and Chief Credit Officer

9th April 2021 Appointments |

White Oak Leases & Loans has announced that it is strengthening its executive team in the UK with the hires of a Chief Risk Officer and Chief Credit Officer. Nick Isaacs has been hired as Chief Risk Officer of White Oak Leases & Loans and is responsible for the implementation and execution of lending strategies…

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Government business lending rises to £75bn

26th March 2021 Asset Finance |

Latest Government figures have shown that the banking and finance industry has provided more than £75 billion in finance to over 1.6 million UK businesses through government-backed coronavirus lending schemes according to newly published HM Treasury data. Lenders have provided finance to over 30,600 businesses through Bounce Back Loans over the past month, bringing the…

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Asset finance market fell by 16% in January

15th March 2021 Asset Finance |

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 16% in January 2021 compared with the same month in 2020. The plant and machinery finance sector reported a fall in new business of 3% in January compared with the same…

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Lloyds Motor Finance and Leasing makes two appointments

1st March 2021 Appointments |

Lloyds Banking Group Motor Finance and Leasing has announced two new senior appointments. Meryem Brassington has been appointed as Electrification Propositions Lead whilst Iryna Kocharova has been appointed as Head of Corporate Customer Journey and Sustainability. The bank says that the appointments reinforce the group’s commitment to a green transition, pledging to reduce the carbon…

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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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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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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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