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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Asset finance fell by 6% in December

12th February 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 6% in December 2020 compared with the same month in 2019.  In 2020 as a whole, new business was 23% lower than in 2019. The commercial vehicle finance sector reported new…

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Businesses expected to have borrowed £61bn through the pandemic

9th February 2021 Arrears and Recoveries |

Figures from EY ITEM Club show British businesses took on debt at more than twice the normal average growth rate since the coronavirus crisis began and are on course to have borrowed £ 61 billion by the end of 2021. EY forecasts a £26 billion rise in borrowing from banks this year – as much…

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Growth opportunities highlighted despite economic uncertainty

4th February 2021 Alternative Business Lending |

A new survey by the Finance and Leasing Association (FLA) has indicated that the asset finance, consumer finance and motor finance industry sees opportunities for growth over the next year despite the heightened uncertainty caused by the latest restrictions to deal with the Covid-19 pandemic. The association surveyed its members with respondents divided on the…

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Regional distribution of business loans revealed

19th January 2021 Asset Finance |

New data published by the British Business Bank has revealed the regional distribution of loans under the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS). More than 1.4 million loans have supported businesses and protected jobs across all sectors. The figures show that the retail and construction sectors have benefitted…

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Asset finance market fell by 10% in November

14th January 2021 Asset Finance |

New figures released by the Finance & Leasing Association (FLA) have indicated that total asset finance new business (primarily leasing and hire purchase) fell by 10% in November 2020 compared with the same month in 2019.  In the eleven months to November 2020, new business was 25% lower than in the same period in 2019.…

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SME lending surge in first three quarters of 2020 more than double 2019 total

8th January 2021 Asset Finance |

New data from UK Finance has revealed that gross lending to SMEs in the first three quarters of 2020 amounted to more than double the annual total for 2019, reaching £54 billion. The data, released as part of the quarterly Business Finance Review, shows that the UK banking and finance industry has delivered an unprecedented…

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Parliamentary Committee criticises Bounce Back Loan Scheme

16th December 2020 Alternative Business Lending |

Parliament’s Public Accounts Committee has today has published a  report into the Bounce Back Loan Scheme (BBLS) set up to help businesses at the height of the coronavirus (Covid-19) pandemic. The new report contains six key findings: The Government was not sufficiently prepared to support micro-businesses despite the economic impact of the pandemic being a known risk…

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Government set to announce new loans scheme

15th December 2020 Business Lending |

The Government is planning to launch a replacement for the Covid loans programme with new state-backed guarantees to support lending by banks to SMEs.. Under plans still being finalised, the new Government scheme could guarantee up to 80 per cent of loans of up to £10 million for businesses that are deemed viable but unable…

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Asset finance market falls by 14%

8th December 2020 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 14% in October 2020 compared with the same month in 2019.  In the ten months to October 2020, new business was 26% lower than in the same period in 2019. The…

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Small Businesses turn to finance as confidence starts to return

30th November 2020 Asset Finance |

Following a concentrated period of uncertainty, new research from Hitachi Capital Business Finance found a significant proportion of small businesses are considering finance to enact their plans for 2021, as confidence gradually returns. Looking ahead to 2021, just over half (56%) of small business owners said they were considering taking finance for some of the…

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More businesses to apply for government-backed loans as funds run low

30th November 2020 Asset Finance |

The demand for the government-backed CBILS loans is set to soar by UK businesses as their Bounce Back Loans dwindle and cash flow dries up, according to the latest MarketFinance business insights. The company says that of the businesses that applied for a Bounce Back loan (up to £50k) during the summer, they now have…

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