Credit, Collections & Insolvency News
Net lending to SMEs shrank to £500m last year, compared with £700m in 2017, according to a new report by the British Business Bank. The study also reveals a dramatic slowdown in the growth of alternative forms of funding, including peer-to-peer lending and asset finance. Lending through peer-to-peer platforms rose by 18% last year, compared…
Read more
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew in December by 7% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. The plant and machinery finance and commercial vehicle finance sectors reported new business…
Read more
Total business volumes in the financial services sector fell slightly in the three months to December, marking the first contraction of demand since September 2013. That’s according to the latest CBI/PwC Financial Services Survey. Meanwhile, sentiment among financial services deteriorated further, rounding off three full years of flat or falling optimism. The quarterly survey of 84…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was at a similar level to the same month in 2017. The plant and machinery finance and business equipment finance sectors reported new business up in November by 9% and 8% respectively,…
Read more
Accountants are helping their clients find the right funding options and referring them to external providers. Research from business finance company MarketInvoice reveals that UK accountants are most likely to refer their clients to banks, with invoice finance as the second most popular lender of choice. Two thirds (66%) of accountants surveyed said that they…
Read more
UK Finance has published its latest Household Finance Update for November 2018 which has revealed that overall lending to non-financial UK companies remained subdued, with a 1.7 per cent contraction over the last twelve months. However, some sectors continue to show growth, with manufacturers growing by seven per cent over the year. Deposits held by…
Read more
D&D Leasing has announced it will rebrand to DND Finance. The aim of the rebrand is to reflect its growing range of services. Rev. Dr. K. Bill Dost said “We realised the name no longer fitted; we were so much more than just a leasing company, we had evolved into a finance house. The timing…
Read more
The latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 9% in October, compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up by 16% and 29% respectively, compared with October…
Read more
Data from the winners and finalists of the second annual Credit & Collections Technology have been collated and are now available as part of a report reviewing the 2018 event. The Awards report highlights the unique and transparent ethos of the scheme by providing graphs, statistics and judges comments which highlight the results. The Awards event,…
Read moreUK Finance has published its latest SME Update on SME loan approval (for Q3 2018) which show that rates remain consistently high. The figures show that there were 69,980 new loans and overdrafts approved for a value of £7.0bn with banks approving eight out of ten applications for SME Finance. The figures also showed that cash…
Read more
Financial services companies appear to have increased their appetite for risk compared to businesses in other sectors, a report has found. The Q3 2018 Global Supply Chain Risk Report, published by Cranfield School of Management and Dun & Bradstreet, investigates the level of perceived supply chain risk faced by European companies with international supplier relationships.…
Read more
Small and medium size enterprises (SMEs) with a turnover between £6.5 million and £10 million and a balance sheet up to £7.5 million will soon be able to have their banking and finance disputes reviewed and redressed through alternative dispute resolution arrangements, following the creation of a specialist ombudsman service with the expertise and powers…
Read more
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in September was at a similar level to the same month in 2017. In Q3 2018, new business grew by 6% compared with the same quarter in the previous year. New finance for IT…
Read more