Credit, Collections & Insolvency News
Haydock Finance has announced the appointment of John Jenkins as Chief Executive Officer Jenkins brings with him over 30 years of experience in finance, having held very senior positions within a number of industry-leading companies including Lloyds TSB, GE Capital & Amicus Finance plc. Jon Wilkinson, Chairman of Haydock Finance, said: “The Board carried out a…
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Leading SME funding provider, Ultimate Finance, has announced another record-breaking year, providing funds of more than £1.4bn to SMEs across the UK last year. The figures from December 2018 show a 35 percent growth of funds in use and a 14 percent increase in the size of the business’ client base. This growth is thanks…
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Praetura Asset Finance has announced the expansion of their portfolio, through the acquisition of Kingsway Asset Finance. The acquisition will create one of the largest independent asset finance companies in the UK. With a combined loan book of over £100 million, the enlarged group will offer SMEs a wide range of services to help them…
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UK Finance has published its latest business finance update for December 2018 which reveals that lending to manufacturers grew by 8.4 percent in the year to December 2018, in contrast to a 0.3 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the transport and accommodation and food service…
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New research from Experian has revealed businesses in the South West have the strongest average business credit scores in Britain, while London ranks as the lowest. Organisations in the South West have an average business credit score of 54.7 – up from 53.4 last year. A business with this score is considered a below average…
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UK small firms have raised their concerns about weak economic growth, consumer demand and high lending rates in the latest Federation of Small Businesses (FSB) Small Business Index (SBI). Amid persistent political uncertainty, the domestic economy is flagged more often as a growth constraint by small businesses than any other common barrier to expansion. Close…
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Research out today from SAP Concur has revealed that 31 per cent of UK businesses consider growth during 2019 to be critical. Almost all respondents (99 per cent) stated that growth had some level of importance to their business over the next few years. In addition, 96 per cent reported that their company is planning…
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Shawbrook Bank has announced it has appointed John Eastgate as its Managing Director (MD) for its commercial mortgage business. Eastgate will join the specialist lender in the summer. He is currently Sales and Marketing Director at One Savings Bank and has been at the lender for more than six years. He will bring nearly 30…
Read moreBibby Financial Services (BFS) has appointed Sue Pengelly as Business Development Manager (BDM), South West of England, as it looks to expand its support for small and medium-sized businesses in the region. In her new role, Sue will primarily focus on securing new business opportunities for BFS, with a focus on Devon, Cornwall and Somerset,…
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Independent Growth Finance (IGF) has announced two appointments in its asset-based lending Sales team. Nigel Hibbert joins as ABL director to strengthens IGF’s presence in the South East. Hibbert has 17 years’ experience working in asset-based lending and invoice finance. Hibbert will be responsible for strengthening relationships in the South East with a focus on asset-based…
Read moreTotal business volumes in the financial services sector fell slightly in the three months to December, marking the first contraction of demand since September 2013. That’s according to the latest CBI/PwC Financial Services Survey. Meanwhile, sentiment among financial services deteriorated further, rounding off three full years of flat or falling optimism. The quarterly survey of 84…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in November was at a similar level to the same month in 2017. The plant and machinery finance and business equipment finance sectors reported new business up in November by 9% and 8% respectively,…
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Accountants are helping their clients find the right funding options and referring them to external providers. Research from business finance company MarketInvoice reveals that UK accountants are most likely to refer their clients to banks, with invoice finance as the second most popular lender of choice. Two thirds (66%) of accountants surveyed said that they…
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