Credit, Collections & Insolvency News
Analysis from Equiniti, the FTSE-listed share services and fintech business, of UK Finance statistics shows that continued Brexit uncertainty is having the biggest impact on the smallest businesses in relation to asset based lending and invoice finance borrowing. The figures show that total advances to businesses with a turnover of less than £1 million a…
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The latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 9% in October, compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up by 16% and 29% respectively, compared with October…
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Data from the winners and finalists of the second annual Credit & Collections Technology have been collated and are now available as part of a report reviewing the 2018 event. The Awards report highlights the unique and transparent ethos of the scheme by providing graphs, statistics and judges comments which highlight the results. The Awards event,…
Read moreTrade credit insurer Atradius has published a new economic research report analysing the impact of a potential trade war on the economies of Southeast Asia. With a trade war seemingly escalating between China and the US, Atradius reports that trade across Southeast Asia has already been moderately impacted, with increased risk aversion in international financial markets. However,…
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Business lender, Iwoca, has announced it has connected to Barclays and HSBC banks under Open Banking, expanding the the number of Open Banking connections offered by Iwoca to three, including Lloyds Bank, enabling more than 60 percent of the lender’s customers to take advantage of the Open Banking service. Open Banking is the new regulation which…
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UK Finance has published its latest SME Update on SME loan approval (for Q3 2018) which show that rates remain consistently high. The figures show that there were 69,980 new loans and overdrafts approved for a value of £7.0bn with banks approving eight out of ten applications for SME Finance. The figures also showed that cash…
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Financial services companies appear to have increased their appetite for risk compared to businesses in other sectors, a report has found. The Q3 2018 Global Supply Chain Risk Report, published by Cranfield School of Management and Dun & Bradstreet, investigates the level of perceived supply chain risk faced by European companies with international supplier relationships.…
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Lender, Aldermore, has appointed Jon Cooper as its new Head of Omnichannel within its retail mortgage business. Cooper will be responsible for driving sales through brokers and alternative channels as well as into the direct team. He will continue to build on the great work our intermediary and direct distribution teams have done to drive our…
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Small and medium size enterprises (SMEs) with a turnover between £6.5 million and £10 million and a balance sheet up to £7.5 million will soon be able to have their banking and finance disputes reviewed and redressed through alternative dispute resolution arrangements, following the creation of a specialist ombudsman service with the expertise and powers…
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UK Finance has released it’s business finance update for October 2018 which reveals that Lending to manufacturers grew by 6.9 percent over the last twelve months, in contrast to a 1.9 percent contraction in overall UK business borrowing. There was also annual growth in borrowing by the agriculture and accommodation sectors. The findings also revealed that…
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The UK online alternative finance market volume grew by 35 per cent in 2017, to £6.2 billion (from £4.6 billion in 2016), as peer-to-peer business lending became an increasingly important part of overall financing of smaller British businesses, according to the 5th UK Alternative Finance Industry Report by the Cambridge Centre for Alternative Finance (CCAF). Peer-to-peer…
Read moreNew research has indicated that bank lending to SME construction businesses has fallen by almost £1.2bn following the collapse of Carillion, dropping to £15.46bn at end of September 2018, down from £16.63bn on 30 September 2017. The study has been carried out by specialist debt adviser firm Hadrian’s Wall Capital. Hadrian’s Wall Capital says that…
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UK businesses are missing out on £85 billion each year due to a lack of digital capability, according to the latest Lloyds Bank Business and Charity Index. The report highlights that this issue is particularly acute for sole traders, of which 41% have low digital capability. Despite this, UK business looks set to enter a…
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