One in three brokers say business lending market has returned to pre-pandemic levels

Nearly one in three (30%) brokers believe the UK SME lending market has returned to levels seen before the outbreak of the Covid-19 pandemic according to research by Iwoca. Whilst nearly another third (31%) believe the market will return within 6 months, based on the number of loan requests they had each month before the…

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Bibby and Azets announce SME partnership

International SME funder, Bibby Financial Services (BFS), and regional accountancy and specialist SME business advisory firm, Azets, have announced a strategic partnership to provide whole-turnover invoice finance facilities.  The agreement will see BFS become Azets’ preferred partner for funding facilities up to £250,000, enabling its network of 3,500 accountancy and advisory specialists to access working…

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Asset finance falls by 2%

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in February 2022 by 2% compared with the same month in 2021. In the first two months of 2022, new business was 5% higher than in the same period in 2021. The…

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Small business lending back to pre-pandemic levels

New research by the British Business Bank has indicated that lending to small businesses has returned to pre-pandemic levels. The Small Business Finance Markets Report 2022  found that 2021 was a year of contrast between debt and equity smaller business finance markets. Bank lending returned to pre-pandemic levels while equity investment in smaller businesses reached…

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Two thirds of SMEs unable to secure funding due to limited access to business lending

More than two thirds (67%) of small and medium sized enterprises (SMEs) globally have been unable to secure sufficient, or any, funding on at least one or more occasions, according to a new report from cloud banking platform Mambu. The ‘Small business, big growth’ report surveyed over 1,000 SME owners globally, who set up their…

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Asset finance grew by 14% in 2021

15th February 2022 Asset Finance | #asset finance

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in December 2021 by 2% compared with the same month in 2020. In 2021 as a whole, new business grew by 14% compared with 2020 to £31.3 billion but remained 12% lower…

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Credit applications and approvals hit seven-year low

Credit applications and approvals hit seven-year low amid fears lenders will replicate approach to last recession, according to latest Small Business Index (SBI) by the Federation of Small Businesses (FSB). The research indicated that most small firms plan to grow over the coming 12 months but are being held back by struggles to recruit, increasing…

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Rural Finance, Sopra Banking Software and BNP Paribas Leasing Solutions agree partnership

21st January 2022 Company News |

A new collaboration between Rural Finance, Sopra Banking Software and BNP Paribas Leasing Solutions has created a new immediate financial approvals process. The solution developed is an API interface between Sopra Financing Platform’s Sprint broker platform used by Rural Finance and the existing BNP Paribas Leasing Solutions’ technology, also designed by Sopra Banking Software. Rural…

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UK business borrowing on course to fall sharply

UK net business borrowing is on course to fall sharply over 2021 as firms pay down existing debt far faster than predicted, according to the latest EY ITEM Club for Financial Services Forecast. The forecast estimates that net bank lending to UK businesses will fall to minus £1.6bn over 2021, following £35.5bn net being lent in 2020,…

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Asset finance fell by 7% in October

10th December 2021 Asset Finance | #asset finance

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 7% in October 2021 compared with the same month in 2020. In the ten months to October 2021, new business was 17% higher than in the same period in 2020. The…

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British Business Bank responds to NAO report on Bounce Back Loans

7th December 2021 Alternative Business Lending | #fraud

A report from the National Audit Office (NAO) says the Government only put basic anti-fraud checks on the Bounce Back Loan Scheme (BBLS) for small firms once more than £28 billion had already been paid out. The British Business Bank stepped up to deliver the Bounce Back Loan Scheme on behalf of Government to ensure…

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£28bn in Covid loans paid out before anti-fraud measures started

3rd December 2021 Alternative Business Lending | #fraud

A report from the National Audit Office (NAO) says the Government only put basic anti-fraud checks on the Bounce Back Loan Scheme (BBLS) for small firms once more than £28 billion had already been paid out. Checks to ensure that a company was not applying for more than one bounce back loan were not put…

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Access to finance jeopardising job creation

Almost half of small businesses across the UK (49%) are relying on securing finance to help them fulfil their growth plans for the year ahead. After three consecutive quarters when small business outlook has remained unchanged (with 34% of business owners predicting growth), the new Business Barometer study from Hitachi Capital Business Finance suggests access…

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