Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 16% in June, compared with the same month last year, and by 12% in the second quarter of 2017 overall. The plant and machinery finance and IT equipment finance sectors reported new…
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The Federation of Small Businesses (FSB) is calling for improved lending standards and an enhanced British Business Bank (BBB) in support of new recommendations from the Banking Futures initiative. FSB is urging all banks to sign-up to the Lending Standards Board (LSB)’s standards of practice for business customers, as set out in the ‘Banking Small…
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Star Asset Finance (SAF) has continued its consolidation of the SME asset finance market by completing the acquisition of Credo Holdings. Norwich-based Credo was established in 2005 as an independent provider of asset finance. The company has a growing own-book portfolio, coupled with brokered finance supported by a number of industry funders. Specialising in hard and soft…
Read moreThe NACFB has announced the appointment of Graham Toy as Chief Executive Officer. Toy joins the organisation as a permanent replacement for interim CEO, Rob Lankey, who left the Association recently at the end of his interim posting. Paul Goodman, Chairman of the NACFB said “Graham joins us at an important time for the NACFB.…
Read moreAlmost half (48%) of SMEs felt that British businesses are missing out on opportunities because of a reluctance to borrow, and 45% believe that the economy is being stifled because they won’t borrow. Yet, almost a third (27%) of those SMEs are holding back the growth of their own business, due to a ‘fear of funding’,…
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Independent Growth Finance (IGF) has announced the appointment of three senior hires at its offices in London and Manchester with a new ABL Director and two Regional Sales Directors joining the firm. Jamie Gould will join IGF Business Credit as ABL Director for London and South East, Gould has over 35 years’ experience in the alternative finance…
Read moreRichard Jones has been named as the new chairman of the Finance & Leasing Association (FLA). Jones, Managing Director at Black Horse, was already a board director at the FLA before taking on the chairman role. Jones the Managing Director at Black Horse, He has replaced outgoing chairman Nigel Clibbens, whose term has ended. Stephen Sklaroff,…
Read moreNew figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in March, compared with the same month last year, and by 9% in Q1 2017 overall. For deals of up to £20 million, asset finance new business in March grew…
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The Asset Based Finance Association (ABFA) has appointed Michael Walsh as Chairperson of the organisation in Ireland and Mark O’ Rourke as Vice Chairperson. Walsh, who has over 25 years’ experience in the Irish banking sector, is currently Director of Ulster Bank Invoice Finance. Michael has held a number of senior roles within the company…
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New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 8% in February, compared with the same month in 2016. The plant and machinery finance and business equipment finance sectors reported new business up in February by 11% and 24% respectively,…
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Henry Howard Finance (HHF), has added to its management team by appointing Anne Williams as Chief Operating Officer (COO). Williams has more than two decades of senior management experience at GE Capital. Joining GE Capital in 1994, Mrs Williams quickly rose up the ranks, eventually spending more than three-and-a-half years as fulfilment leader, helping the…
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Aldermore have released a new report which reveals that a fifth (19%) of all small and medium-sized enterprises (SMEs) – equating to 1.04 million firms in the UK with under 250 employees – have missed out on at least one new business opportunity in the past 12 months due to a lack of available finance.…
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Asset based finance to businesses is up 13% since last year, hitting an all-time high of £22.2 billion, rising from £20.6 billion the previous year, says the Asset Based Finance Association (ABFA), the body representing the asset based finance industry in the UK and the Republic of Ireland. The ABFA says that a key driver…
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