Credit, Collections & Insolvency News
Invoice finance company, eCapital Commercial Finance has acquired Optimum SME Finance. David Tilling, CEO of Capital said “We are thrilled to welcome Optimum’s clients and team as part of our ambitious growth strategy. This acquisition broadens our national reach with a new regional presence in Bristol and reinforces our commitment to becoming the premier, fully…
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SMEs are switching to monthly payments for insurance bills as premium increases put pressure on their businesses according to new research Premium Credit. The research showed that 43% value the ability to pay for insurance monthly through premium finance or finance offered by insurers compared with 32% who prefer to pay in a lump sum.…
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The British Business Bank’s latest Nations and Regions Tracker reveals a significant increase in external finance usage among UK small businesses, with 46% now leveraging it, a rise of 10% from the previous year. Notably, Wales leads with 53% of smaller businesses using external finance, marking a 16 percentage-point increase. Despite this growth, 61% of…
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A third of commercial finance brokers struggle to find lenders prepared to fund business acquisition deals according to latest survey data from Asset Advantage. Alongside difficulties with lender appetite, two-in-ten brokers said they find it hard to secure the right loan value for potential acquisitions. Respondents also shared challenges with securing all the necessary information,…
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Economic uncertainty and the prospect of tax changes being introduced in the upcoming Budget are behind a slowing appetite for external funding according to Atom bank’s ‘SME Pulse’ for Q3 2024. The quarterly poll of commercial brokers found that there has been a drop off in demand from SMEs for funding. While nearly half (47%)…
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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 in August 2024 by 7% compared with the same month in 2023. In the eight months to August 2024, new business was 4% higher than in the same period in 2023. New…
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Nearly a third of commercial finance brokers say they frequently encounter difficulties in securing funding for their clients due to changes in funder policies, latest survey data from Asset Advantage can reveal. Just over 27% of brokers say they encounter challenges frequently or very frequently, more than half (56.8%) face difficulties on occasion. The biggest…
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The latest asset finance industry index, released by Acquis, has revealed that the value of new equipment finance deals in the UK during the first half of 2024 has seen a 14% decrease on the same period in 2023. The latest instalment of the Index has also revealed that lease inceptions for the first half…
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A survey by Purbeck Personal Guarantee Insurance has found that 60% of small business owners have felt in the dark about the risks and 25% have backed out of a loan because it had a personal guarantee attached. Todd Davison, MD of Purbeck Personal Guarantee Insurance said “We welcome the strengthening provisions on personal guarantees by the Lending…
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Latest UK Finance data shows that overall gross lending was broadly stable at around £4 billion in Q2 2024. This is very similar to gross lending in Q1 2024, but again higher than a year previously when it was £3.6 billion. Growth in lending over the first half of this year varied across sectors and…
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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) grew in July 2024 by 9% compared with the same month in 2023. In the seven months to July 2024, new business was 5% higher than in the same period in 2023. The…
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Nearly a third (31%) of commercial finance brokers have seen a growing shift among clients towards business loans to secure funding, new survey data from Asset Advantage can reveal. For nearly a quarter of brokers (24%), the biggest driver among clients towards business loans is more complex projects which require flexible funding routes. Nearly two-in-ten…
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Time Finance has to announced role changes within three of their senior management team. Steve Nichols, Sharon Bryden and Lorraine Neyland are all receiving new titles and expansion of roles within the group. Nichols, who was formerly Director of Asset Finance, is now named Managing Director of Asset Finance, delegating further responsibility to deliver the…
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