Credit, Collections & Insolvency News
Ultimate Finance has announced that it has partnered with Nivo to invest in facial recognition technology to make it quicker and easier to apply for funding. Nivo gives Ultimate Finance access to a range of leading technology services so they can streamline customer engagement through instant messaging. Features such as biometric ID verification and file…
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Specialist asset-based lender, Ultimate Finance has helped to take a company from administration to success in six months. Brookes HC Recruitment has a complete company turnaround after Ultimate Finance provided invoice finance and back-office support. The specialist asset-based lender supported Brookes through administration, providing the company with a £400,000 invoice finance facility to guide the…
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SME specialist, OakNorth Bank has announced that it intends to expand its debt finance team with four new appointments and will also open a new Birmingham office to support businesses in the MidlandsSteve Mitchell and Marcus Hook will be based out of the bank’s newly-opened Birmingham office aimed at supporting SMEs in the Midlands, whilst …
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Kew Vehicle Leasing is the first leasing broker to openly disclose the amount of finance commission it receives on all regulated Personal Contract Hire (PCH) agreements. Additionally, Kew Vehicle Leasing will also disclose the lender as a matter of course. Car finance is currently under investigation by the Financial Conduct Authority (FCA) concerning the amount…
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Bibby Financial Services (BFS) has appointed Jim Davis as Managing Director (MD) for Construction Finance as it looks to further its support for SME businesses in the sector. Joining BFS from Yorkshire Bank in 2011, Davis held the role of Head of Sales for the West Midlands since 2011and was instrumental in the opening of BFS’s…
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Bank lending to small and medium sized (SME) retailers in the UK has fallen 6% from £15.6 billion to £14.7 billion since the Brexit vote in 2016, meanwhile large retailers have benefited from a sharp rise in bank lending, says accountants and business advisors, Moore. Over the same period that lending to SME retailers has…
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Set against a backdrop of unprecedented change – British small businesses are remaining stoic and are facing the next three months with renewed focus and a determination to succeed. New research from Hitachi Capital Business Finance shows that for the sixth consecutive quarter confidence levels have varied only by 1%, with the number of businesses…
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The Bank of England (BoE) says that UK firms face their biggest lending squeeze since the financial crisis. The BOE survey found that British businesses are facing the biggest lending squeeze since the financial crisis amid rising uncertainty about the health of the economy. The survey showed that corporate default rates have been increasing over the…
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A survey of commercial finance brokers undertaken by insurance provider, Purbeck, has uncovered an increasing demand by lenders for personal guarantees to secure business finance. In the survey, 47% of brokers said they had seen a rise in demand for personal guarantees as part of a new business finance package, in the past year. This…
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Credit Connect has announced its inaugural Credit & Collections Technology company power list for 2019. The power list is the first edition of what will be an annual round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements…
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Paragon has appointed a new Managing Director (MD) of SME lending. John Phillipou joins Paragon from PEAC Finance, where he was Chief Executive Officer, leading the business in providing finance solutions for predominantly SME clients. Phillipou’s career spans 25 years in business lending both in the UK and globally, including roles with Bank of Scotland,…
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Cambridge & Counties Bank has appointed Donna Kerr as its first Area Director for Scotland to support the company’s growth in the region. Kerr brings 30 years of leadership and business experience to Cambridge & Counties Bank. Prior to joining, she spent the previous three years managing a national team with Blackhorse Finance, running a…
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Over a third (36%) of Europe’s CFOs feel more pessimistic about their companies’ financial prospects than they did three months ago, according to Deloitte European CFO Survey. This percentage has doubled since the first survey in spring 2015, when the figure stood at 18%. Fewer than one in five CFOs (18%) consider now to be…
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