Credit, Collections & Insolvency News
Small business owners are feeling confident about taking on larger amounts of finance to support their growth ambitions in 2022, according to iwoca’s quarterly SME Expert Index. The index reveals that close to half (43%) of brokers saw financing for growth as the most common purpose for a loan among SMEs. This is the second…
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Optimum Finance has announced the appointment of Mike Stevens as Regional Director. Stevens, re-joins the team at Bristol-based specialist invoice finance provider from Peak Cashflow. Optimum has invested heavily in its team in 2021 with 14 new hires, including the expansion of its technology team by 350%. This rapid growth has resulted in Optimum being…
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Following two years of uncertainty and consecutive lockdowns, 61 per cent of business leaders said that they are seeking business finance to expand and hire in 2022. Furthermore, 63 per cent revealed that they already have plans to look for equity investment in their business during 2022 according to research by Capitalise. The report, titled…
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Specialist asset-based lender, Time Finance has announced that they have appointed Steve Nichols as Director of Asset Finance. Nichols assumes overall responsibility for the operation and performance of Asset Finance for the business and will become a member of the Operating Board. Nicols succeeds Carol Roberts as part of a planned progression and the two…
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Arrow Global, has announced that it has secured mandates from three UK banks to act as collections and recoveries partner across their ounce Back Loan Scheme (BBLS) and Coronavirus Business Interruption Loan Scheme portfolios. The servicing mandates, which will be managed by Arrow’s Drydensfairfax platform in Leeds, build on Arrow Global’s presence as the leading…
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Santander UK has announced the appointment of Alan Horton as its Head of Recruitment sector for the invoice finance team. Horton will be responsible for understanding the needs of the recruitment sector and ensuring the invoice finance facilities the bank offers to recruitment clients are appropriate to help them achieve their goals. Invoice finance is…
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New research by Taulia has found that 38% of its suppliers take early payments monthly in 2021, up from 19% in 2017. There has been growing interest from suppliers in regularly receiving early payment once an invoice is approved as an alternative source of finance. In 2021, one-fifth (22%) of suppliers were interested in receiving…
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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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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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Specialist Invoice Finance provider, Optimum Finance has bolstered its team with three new appointments across the Marketing and Finance departments. Jo Maniatt joins as Marketing Director, Szym Wasilewski as Finance Manager and Liam O’Shea as Financial Accountant. Maniatt, previously International Marketing Manager for global brand Bisley Office Furniture, brings with her a wealth of strategic…
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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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UK Finance’s Business Finance Review for Quarter 3 2021 has shown that gross lending to SMEs was around £5.2 billion in Q3 2021, indicating that business lending figures broadly unchanged from the previous quarter. The report Applications for new loans and overdrafts continued to trend down over the quarter – consistent across sectors and regions.…
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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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