Credit, Collections & Insolvency News
The leasing sector needs to become more agile to meet the needs of an increasingly important and ‘entitled’ SME sector. This is the observation from financial software experts Copernicus’ MD Allen Jones reflecting upon a cultural and technical change that is emerging rapidly in the business community. “While there has been much written and reported about…
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Hitachi Capital UK has announced it has acquired of Franchise Finance, a specialist financial services provider to the franchising industry. The transaction boosts Hitachi Capital UK’s lending base to SMEs and franchisees, bringing considerable senior consultancy experience to the Group and helping to build a profitable portfolio within an underserved market. The acquisition also enables…
Read moreAn independent study commissioned by Dun & Bradstreet reveals a UK business community that believes it has already lost out due to the EU referendum. When asked how the Brexit process has affected business finances, 43% of business leaders say they have felt a negative financial impact since the Brexit vote. More than a third…
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The Number of new loans to SMEs has increased in Quarter 1 according to new figures from UK Finance Commenting on the data, Stephen Pegge, Managing Director, Commercial at UK Finance said “The number of new approved loans to SMEs grew slightly in the first quarter of the year, driven in part by increased demand…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell by 5% in March, compared with the same month last year, and by 3% in Q1 2018 overall. New finance for business equipment grew in March by 13% compared with the same month…
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The Financial Conduct Authority (FCA) has announced changes to the definition of income between consumer hire leases and consumer credit after a response to its consultation. In December of last year, the FCA made a call for leasing businesses to respond to the regulator. Under the current rule, FCA fees for regulated credit agreements such…
Read moreShire Leasing has announced structural changes to their leadership team. Mark Picken is to move to CEO with Helen Lumb taking the CFO role and Malcolm Workman to be COO. This new structure will see the various business disciplines report through Lumb and Workman and provide a broader management spread and greater focus on the…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million fell in February by 1%, compared with the same month last year. The plant and machinery finance and IT equipment finance sectors reported new business growth in…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is to host the Credit and Collections Technology Awards at this year’s CSA Gala Dinner on 13 September. The co-branded event, which will form part of the CSA’s UK Credit and Collections Conference (UKCCC), reflects the Association’s growing recognition…
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Lex Autolease has appointed Ashley Barnett to Head of Fleet Consultancy. Barnett has 25 years’ experience in accountancy, with a focus on vehicle funding, company car policy and salary sacrifice schemes. He has spent 19 years in the Lloyds TSB group and previously worked within the Co-operative group. Managing Director of Lex Autolease, Tim Porter,…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer car finance market in 2017 were at a similar level to 2016, while the value of new business was up by 6% over the same period. New business in December 2017 fell 2%…
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Rivers Leasing has announced it has appointed a former Managing Director of Arkle Finance to its management team. Stephen Bassett, former Managing Director of Arkle Finance, joins as Non-Executive Director. With much of his career spanning senior management and directorship roles at organisations including Schroder Leasing Ltd, Lloyds & Scottish Finance, Lombard, Wyse Leasing Plc…
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Latest data released by UK Finance has shown that the invoice finance and asset-based lending sector is providing more finance to UK businesses than ever before. Advances (the amount of funding being provided to clients at the close of the most recent quarter) are up 13 per cent year on year and stand at just over…
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