Credit, Collections & Insolvency News
Almost 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’,…
Read more
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…
Read more
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…
Read more
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,…
Read more
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…
Read more
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.…
Read more
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…
Read moreSmall and medium-sized enterprises (SMEs) are missing out on an opportunity to fund their business more effectively because they lack information about the benefits of asset based lending, a new study from Close Brothers reveals. Its research suggests many SMEs are sticking with inflexible and often unobtainable forms of credit because they aren’t aware of…
Read more
Latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in 2016 – the sixth consecutive year of growth. New business in December 2016 fell by 13% compared with the same month in 2015. New business in the commercial vehicle finance…
Read more
The Finance & Leasing Association (FLA) has called for a more user-friendly regulatory system from the Financial Conduct Authority (FCA), in its response to the regulator’s ‘Future Mission’ consultation. Fiona Hoyle, head of Consumer and Mortgage Finance at the FLA, said: “Consumer credit firms now account for at least 35,000 of the 56,000 regulated by…
Read more
New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 13% in November, compared with the same month in 2015. The plant and machinery finance and business equipment finance sectors reported new business up in November by 18% and 33% respectively,…
Read more