UK business borrowing on course to fall sharply

UK net business borrowing is on course to fall sharply over 2021 as firms pay down existing debt far faster than predicted, according to the latest EY ITEM Club for Financial Services Forecast. The forecast estimates that net bank lending to UK businesses will fall to minus £1.6bn over 2021, following £35.5bn net being lent in 2020,…

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Asset finance fell by 7% in October

10th December 2021 Asset Finance | #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 7% in October 2021 compared with the same month in 2020. In the ten months to October 2021, new business was 17% higher than in the same period in 2020. The…

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British Business Bank responds to NAO report on Bounce Back Loans

7th December 2021 Alternative Business Lending | #fraud

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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£28bn in Covid loans paid out before anti-fraud measures started

3rd December 2021 Alternative Business Lending | #fraud

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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Access to finance jeopardising job creation

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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Asset finance grows by 6% in September

8th November 2021 Asset Finance | #asset

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 6% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business was 20% higher than in the same period in 2020. The…

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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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