Credit, Collections & Insolvency News
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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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in December 2021 by 2% compared with the same month in 2020. In 2021 as a whole, new business grew by 14% compared with 2020 to £31.3 billion but remained 12% lower…
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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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A new collaboration between Rural Finance, Sopra Banking Software and BNP Paribas Leasing Solutions has created a new immediate financial approvals process. The solution developed is an API interface between Sopra Financing Platform’s Sprint broker platform used by Rural Finance and the existing BNP Paribas Leasing Solutions’ technology, also designed by Sopra Banking Software. Rural…
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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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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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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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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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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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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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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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