Credit, Collections & Insolvency News
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
Four new banks were launched in the UK in the first ten months of the pandemic, adding to the 41 launched over the previous seven years, according to analysis by ACP Altenburg Advisory. The debt advisory specialist says that the new banks provide a sign of the growing options available to businesses looking for finance as…
Read more
The date for the third Commercial Credit & Collection conference has been confirmed as Thursday 17th June. The conference starting at 9.30 am will tackle issues across the full life-cycle of business credit and collections. The conference series also aims to provide insight into new technology advancements that can help Credit Manager and Finance Directors…
Read moreUK companies are expected to borrow a net £19 billion this year, far less than the £26 billionn initially forecast by experts in February as the economy rebounds quicker than anticipated and the demand for loans to support cashflow reduces, according to the latest EY ITEM Club Interim Bank Lending Forecast. UK GDP is now…
Read more
As SMEs prepare for the next easing of lockdown restrictions, business owners across the country are still looking to the government for further support. However new research from Nucleus Commercial Finance today reveals business owners are lacking awareness and understanding of the Government support schemes on offer. The research of SME leaders found nearly one…
Read more
Geoff Maleham has been appointed as Managing Director of Hitachi Capital Business Finance (subject to FCA approval). Maleham has jointly led the business since the sad passing of Gavin Wraith-Carter in September 2020. Hitachi Capital Business Finance, a division of Hitachi Capital (UK) PLC, provides business asset finance to SMEs and corporations across the UK.…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 15% in March 2021 compared with the same month in 2020. In Q1 2021, new business grew by 1% compared with Q1 2020. The commercial vehicle finance sector reported new business…
Read more
SMEs are set to invest an average of £150,000 in the business as post lockdown optimism grows according to new research by Bibby Financial Services (BFS). The Government’s plans to ease lockdown restrictions have seen a surge in optimism from SMEs, according to the latest business funders’ Covid-19 Pulse survey. The research found that three…
Read more
UK quoted companies issued 50 profit warnings in Q1 2021, an 83% decrease from the 301 warnings recorded in Q1 2020 according to a latest report from EY-Parthenon’s which indicated the biggest year-on-year percentage fall in UK profit warnings on record. Profit warnings were pushed to record levels in Q1 2020 at the onset of…
Read more
Business Peer to Peer (P2P) platform, Growth Street, as announced that it is nearing the completion of its solvent wind down and will shortly enter liquidation. The announcement follows the return of 100% of peer-to-peer (P2P) investor funds and a ‘highly successful’ recovery process. Growth Street was launched in 2015 with the mission to support…
Read more
BDO’s Midlands office has announced the has appointed a senior corporate finance specialist to head up its new asset-based lending (ABL) advisory service. Drew Johnson joins as Director from PNC Business Credit, where he worked as a Business Development Director, originating, structuring and executing SME, mid-market ABL transactions, ranging from £1m to £150m. He has 20…
Read more
Business lender White Oak has announced the appointment of Natasha Powell as Director of Risk & Compliance. Powell will take the lead on managing the firm’s regulatory compliance risk framework as part of White Oak’s commitment to regulatory excellence. The role will involve identifying, assessing, and reporting on risks; providing oversight and challenge to the…
Read more
Business finance marketplace platform Funding Options has launched Funding Cloud, a data-driven technology platform that the company says will bring scale and speed to the SME finance sector. Lenders including Just Cash Flow, iwoca, YouLend, Optimum Finance and FIBR have already integrated with Funding Cloud. By Q4 this year, the company expects to have more…
Read more