Credit, Collections & Insolvency News
The pandemic has motivated the UK’s businesses to crack down on late payment, according to the latest European Payment Report from Intrum. More than 11,000 firms across 29 European countries participated in the research. Tomorrow (Thursday 17th June), Intrum’s UK client and sales director Ian Davies will take part in a panel discussion on the…
Read more
New research figures from Mazars show that almost 40,000 businesses were struck off the Companies House register in the first three months of the year, a rise of 743% on Q1 2020. Strike-offs from Companies House increased to 39,601 in the first three months of 2021 compared to just 4,695 in the same period in…
Read more
As many businesses face the financial impact of four more weeks before pandemic restrictions lift, small business owners who have become personal guarantors for CBILS loans over £250,000 are being warned that lenders will come to them first, if they default on the loan – not the Government. By 21st June 2020, 50,482 loans had…
Read more
Just Cashflow has announced that it will be offering new and existing customers a full range of Invoice Finance facilities through a mutually beneficial relationship with Optimum Finance. Chief Commercial Officer, Martine Catton said, “Businesses emerging from a post COVID world are going to need access to the most appropriate financial products so it’s important…
Read more
Business lender, West One Loans has announced the appointment of Nick Jones as Sales Director In his new role, Jones will be responsible for developing and driving the implementation of the sales and distribution strategy for West One’s bridging and development proposition, and he will lead and grow the existing sales team. With over 21…
Read more
Time Finance has announced that Ed Rimmer has been confirmed as the permanent Chief Executive Officer (CEO) with immediate effect. Having previously held the position of Chief Operating Officer until April 2020, Ed was reappointed as Interim CEO three months ago. Time Finance specialise in the provision or arrangement of funding solutions to UK businesses…
Read more
The Online Commercial Credit & Collections Conference has confirmed its agenda and speaker line-up ahead of the event next Thursday (22nd April). The event has been transformed from the annual face to face event which took place in 2019 and 2020 to an online event this year. The Commercial Credit & Collections Conference has been…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 80% in April 2021 compared with the same month in 2020. In the first four months of 2021, new business was 15% higher than in the same period in 2020. The…
Read more
A report from the Federation of Small Businesses (FSB) and think-tank Ownership at Work suggests small firms that took out state-backed loans amid the pandemic should be allowed to convert the loan into shares for employees and write off the debt. The research figures show that around 1.5 million loans worth a combined £46.5 billion…
Read more
Small business loan platform, Funding Circle and app-based bank, Atom have announced a lending partnership that will provide £300 million of new funding to small businesses. With £350 million already lent through the Funding Circle platform, this latest commitment brings Atom’s total lending with Funding Circle to £650 million. Atom says that it will harness…
Read more
City of London police investigated 50% more fraud probes in connection with the Government’s Bounce Back Loan scheme (BBLs) in February than the month before according to new research by RPC. The international law firm found that Bounce Back Loan fraud investigations increased from 17 in January 2021 to 26 and 28 in February and…
Read more
Specialist SME invoice finance company Optimum Finance has recruited Vicky Williams as Chief Financial Officer (CFO). Williams joins following the appointment of Chief Technology Officer (CTO) Gordon McIntosh in March this year. Williams appointment means that the new member of management fills the final slot in the Senior Leadership Team, with women holding a 60%…
Read more
The Credit & Collections Technology Awards has confirmed the judging panel for the 2021 event. Launched in 2017, the fifth annual awards seek to recognise excellence in credit and collections technology. The judging panel includes industry association leaders whose expertise includes specialisms from a diversity of different backgrounds, this ranges from consumer and business commercial…
Read more