Credit, Collections & Insolvency News
New figures released today by the Finance & Leasing Association (FLA) show that FLA members provided a record £140 billion of new business which helped businesses invest in new equipment and households manage purchases. 2019 saw growth across FLA markets with asset finance and consumer finance new business up by 6% and 1% respectively, compared…
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Business lender Spotcap has announced the appointment of Amanda Reece and Faton Gashi, who joined the team as partnership manager and sales support manager, respectively. Both have worked for UK high street banks in the past and join Spotcap during times of increased need for business finance. Reece will work closely with brokers, accountants and…
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Two in five small business leaders (39%) predict growth by 31st March – the highest level for 18 months, according to new research from Hitachi Capital Business Finance. By industry sector, this quarter sees a rise in growth outlook registered across the board in all but two sectors, with a significant upturn of growth projections…
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Specialist bank, Aldermore, has appointed Tim Boag as its new Group Managing Director of Business Finance. Boag has been working on an interim basis at Aldermore, since June last year with overall responsibility for Invoice Finance, Asset Finance and Commercial Real Estate. Tim’s appointment is subject to regulatory approval. Boag joined Aldermore after fulfilling a…
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More than 100,000 UK businesses have a corporate structure so complicated it would take over half a day for them to complete anti-fraud checks, according to Experian analysis. Businesses are required to perform Know Your Customer (KYC) checks on their clients to ensure they are not involved in financial crime or fraud. Fraudsters can use…
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SME-focused alternative lender Just Cashflows has announced that it will offer all its customers a ‘first line of defence’ against fraud that it says currently costs SMEs nearly £1.5billion a year. Businesses will now be able to use the software to gauge the propensity for a customer or business to be involved in fraudulent activity,…
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The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London. Over 80 industry professionals from the commercial credit management sector attended the event. The…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in November 2019 was at a similar level to the same month in 2018, but grew by 6% in the eleven months to November 2019. The IT equipment finance sector reported a second…
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Specialist SME lender, Shawbrook Bank, has announced that it has appointed its first Head of Fintech Strategy and Commercialisation. Stuart Doignie joins Shawbrook’s Business Finance Division. Doignie has held several senior roles within the fintech space and his appointment signals Shawbrook’s intent to adopt new technologies as it looks to evolve its specialist SME lending…
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UK businesses are planning a £1.7 billion investment boost over the next two years as Brexit uncertainty ends, a new survey has revealed. Plans to expand premises and employ more staff top the agenda for small and medium sized enterprises (SMEs), according to the results of the study by finance specialist Together. More than a quarter…
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The National Audit Office (NAO) has published a value for money study on the British Business Bank, in particular examining its impact on SMEs’ access to finance and its preparedness to respond to future challenges. The NAO report examines the impact of the British Business Bank on small-medium enterprises’ (SMEs) access to finance and its…
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Crystal Specialist Finance has announced the appointment of Jason Berry as Group Sales Director. Prior to his new role, Berry worked at Uinsure, Platform Home Loans and St James’s Place Wealth Management. Crystal Specialist Finance managing director Jo Breeden said “We are delighted to be working with Berry, this is a great appointment. His reputation…
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Late payments are hitting the mental health of small business owners, according to research published by Pay.UK, which runs the Bacs Direct Credit and Direct Debit payment services. The research has found that ,ore than a quarter (26 per cent) of SME business owners stress about late payments even when they are not at work;…
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