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 3% in August, compared with the same month last year. The plant and machinery finance sector reported new business up in August by 4% compared with the same month in 2016, while…
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Shire Leasing has announced it has Top Hybrid Funder of the Year at the 2017 Leasing World Awards. The award recognises Shire Leasing as the leading company that has most successfully increased their Own Book funding portfolio and has now surpassed the 50% barrier of own-book to brokered deals, a great achievement for a truly…
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 grew by 6% in July, compared with the same month last year. Including high-value deals, new business fell by 1% over the same period. The plant and…
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BNP Paribas Leasing Solutions has appointed Morgan Vessier as new Head of Risk. Vessier, who joined the BNP Paribas Group in 2005, has worked across several key business units, including BNP Paribas Personal Finance, where he served as the Head of Center for Scoring, and the Turkish Economic Bank (TEB), where he acted as Director…
Read moreShire Leasing has announced that it has surpassed £100 million in own book lending. The news comes only 5 months after it secured a further £37.4m facility under the government-backed British Business Bank’s ENABLE Funding programme, in place to help it increase funding to smaller businesses. Mark Picken, Shire’s Managing Director, said “The £100 million figure is…
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ABN AMRO Commercial Finance (ACF) has appointed Andrew Johnston as UK Head of Sales SME. Johnston will lead a team of business development managers located across England and Wales focused on supporting SMEs with funding requirements up to £10m. With over 26 years’ experience in financial services, Andrew joins ACF from the Royal Bank of…
Read moreSiemens Financial Services (SFS) has appointed Julian Hobbs as Chief Executive Officer of the Commercial Finance division. Hobbs joined the SFS Commercial Finance business in December 2010, following previous sales and risk roles in the asset and receivables financing industries, more latterly as Managing Director of Deutsche Leasing’s operations in the United Kingdom and Ireland.…
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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…
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