Credit, Collections & Insolvency News
Asset finance is expected to see the strongest demand for SME funding over the next 12 months, commercial finance brokers have told SME funding provider Asset Advantage. In the latest survey, 72% of commercial brokers said asset finance will be driving business funding demand in the coming year. Brokers also anticipate significant interest and demand…
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A company claiming to provide financial services, which received around £175,000 from a client but failed to deliver promised services, has been shut down. Basic Prime Limited claimed to provide trade finance guarantees and credit enhancement services but was suspected by Insolvency Service investigators of operating an advance fee fraud scheme. The company at no…
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New research has revealed that while SME confidence in Government remains fairly lukewarm, this support is fragile in the face of mounting economic pressures and uncertainty – and may well turn sour without urgent action on tax and costs at the Autumn Budget. The survey of 1,000 SME leaders and decision makers, commissioned by FTSE…
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New data from Purbeck has shown that 38% of SME loans taken in October were purely for working capital, to sustain cash flow. This is the highest proportion the business has recorded since the start of 2025. According to the latest Barclays Business Prosperity Index, 55% of SMEs have paused investment plans amid heightened economic…
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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) in September 2025 grew by 11% compared with the same month in 2024. In the nine months to September 2025, new business was 2% higher than in the same period in 2024. The…
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New research from Capital Economics, commissioned by SME lender iwoca, has found that SMEs receiving a loan can increase their monthly revenues by an average of 19%. The analysis is based on data from current accounts of thousands of iwoca customers, finds that taking a loan is associated with an increase in revenues of nearly a fifth (19%) within…
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New research by Purbeck Insurance Services has revealed that one in three SME loans has a personal guarantee (PG) in place. With 36% of these loans for working capital to keep the business afloat, Chancellor Rachel Reeves is being urged to avoid any further measures that would raise operating costs and increase the burden on…
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Plans to retire or step back are the primary motives for business owners looking to sell as part of business acquisition deals, commercial finance brokers have told SME funding provider Asset Advantage. When asked what are the main reasons why business owners are looking to sell, nearly seven in ten commercial finance brokers (69%) said…
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UK SMEs say specific Government initiatives designed to help them survive and grow don’t go far enough, according to new research from independent funder, Bibby Financial Services (BFS). The Q3 2025 SME Confidence Tracker, which surveys 1,000 UK SMEs, reveals that over half (52%) of small businesses believe measures such as the Fair Payment Code,…
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New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in August 2025 fell by 3% compared with the same month in 2024. In the eight months to August 2025, new business was 1% higher than in the same period in 2024.…
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New data from Purbeck Insurance Services has found that loans to small and medium-sized enterprises are showing record levels of funding being secured, along with a strong demand for personal guarantee insurance (PGI) protection for business owners. The data shows the average loan secured has risen to £289,827 from £204,035 in Q3 2024 – a 42%…
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A Covid fraudster who bought a house in Huddersfield using Bounce Back Loan funds has been jailed. Mohammed Rashidzadeh appointed solicitors to help him buy a three-bedroom semi-detached house in the Almondbury area of the town just two days after receiving the £50,000 loan in June 2020. The 34-year-old also attempted to strike his Cozy…
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New research by challenger business, Allica Bank, has shown a sharp rise in broker confidence for the months ahead. Though just over 18% expressed concern for the next six months, over half (51.2%) of brokers said they had a positive outlook, a significant increase on Quarter 4, when confidence was just 24%. A further 30%…
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