Credit, Collections & Insolvency News
Small and medium-sized enterprises (SMEs) outside of London and the South East received two thirds of loans in the first three quarters of 2019, according to the UK Finance’s latest Business Finance Review. While eight out of ten loan applications by SMEs were approved, there were four per cent fewer loan applications in Q3 2019…
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More than three in four small business owners (77%) are prioritising new initiatives for 2020 to make their business stronger according to latest figures from Hitachi Capital Business Finance. With 2019 being characterised by market uncertainty and static growth forecasts it appears that small business leaders are starting the new year with a different set of…
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Business sentiment has surged to an all-time high, according to Deloitte’s latest CFO survey. The Q4 2019 survey, which took place immediately after the December UK general election, showed the largest increase in confidence in its 11-year history. The Deloitte CFO Survey gauges sentiment amongst the UK’s largest businesses. 119 CFOs participated in the latest…
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One in five UK businesses are financially stressed, with more than 1,000 companies in situations of acute distress, according to new research from KPMG. KPMG’s Restructuring practice analysed the filings of all UK businesses with revenues in excess of £10m over a five year period to the end of 2018 – a population which grew…
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Business lender, Spotcap has announced that Ian Mills and Duncan Ballingall have joined the UK team as Partnership Manager and Underwriter, respectively. Mills and Ballingall will support Spotcap in helping a growing number of UK businesses with swift and flexible unsecured loans. Mills joins from Boost Capital. He has over 20 years of experience working…
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Property finance specialist LendInvest has announced that its Co-Founder and Chief Executive Officer (CEO), Christian Faes, is handing over day-to-day management of the business to a long-serving member of the management team. Rod Lockhart will become the CEO of LendInvest and joins the company’s Board of Directors. Faes, who co-founded LendInvest in 2008, remains fully…
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With today marking two years since the implementation of the Second Payment Services Directive (PSD2) in the UK, the Federation of Small Business (FSB) has highlighted figures which show the minimal impact of the legislation to date. The FSB says that PSD2 paved the way for Open Banking – a set of interfaces which give consumers…
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SME lender Simply has made a raft of new year promotions. The company has announced that it has made five senior promotions in recognition of the hard work and the important role they play in the growth of the business. John Wiles is promoted from Sales Director to Managing Director. Other promotions see Chris Etherington…
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Data from loan firm Iwoca has shown that 1,200 small business owners applied to Iwoca for finance between Christmas Eve and New Year’s Day. The data from the 2019 Christmas week shows that many SME owners were focused on big decisions about their businesses. More than 1,200 applications were made to Iwoca between Christmas Eve…
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The Government has welcomed an independent review that recommends changes to the Loan Charge, while also confirming that it was a ‘necessary’ response to the tax avoidance schemes it was designed to tackle. The Review, led by Sir Amyas Morse, was commissioned to look at the impact of the charge, which was introduced to tackle…
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Together Money has appointed a new UK Head of Field Sales. Sean Williams, who spent over three decades with the Yorkshire Bank has taken up a new role, he will be responsible for the professional sector team of experienced development directors operating in regions across the UK, helping entrepreneurs and SMEs realise their business ambitions.…
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Duncan Swift, President of insolvency and restructuring trade body R3 has responded to the Queen’s Speech Swift said “We hope the Government does not miss the opportunity to make progress with much-needed – and long-awaited – corporate insolvency and restructuring reforms. They don’t appear to have been included in any of the planned bills, 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 by 2% in October 2019 compared with the same month in 2018, and has risen by 6% in the first ten months of 2019. Within this overall increase, the IT equipment finance…
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