Credit, Collections & Insolvency News
Peer-to-peer lender Assetz Capital has bolstered its team in the Midlands with the appointment of Luke Carter as a Senior Relationship Manager. Carter joins from RBS, where he spent 10 years within the Commercial Banking team, and most recently as a Senior Relationship Manager in the Midlands region. In this role, he managed a portfolio…
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The Treasury Committee has published a Report on SME Finance with a recommendation to appoint a Financial Services Tribunal to help SMEs resolve disputes with lenders. The report says the Financial Services Tribunal is needed to handle complex SME disputes and expanding the Ombudsman’s remit to handle SME cases should not be rushed through. The…
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Accountant in Bankruptcy (AiB) has released official statistics reporting corporate insolvencies Scotland for the second quarter (July to September 2018) of 2018-19. The number of corporate insolvencies in Scotland fell by 5% in Q2 2018-19 (July-September 2018) compared with Q1 2018-19 (April-June 2018), but rose by 4% compared with Q2 2017-18 (July-September 2017). Commenting on the…
Read moreUK Finance has published its Business finance update for September 2018 which reveals that Lending to manufacturers grew by 4.9 percent over the last twelve months. While there is annual growth in borrowing demand from manufacturers, agriculture and accommodation, those sectors are in marked contrast to a wider 2.0 percent contraction in UK business borrowing overall. Deposits…
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Buy-to-let and specialist lender, Fleet Mortgages, has announced the promotion of Graham Le Bas to the role of National Sales Manager. Le Bas has previously been BDM in the South West for Fleet for the past two years and will now be working with the lender’s team of BDMs who cover the breadth of England and…
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The Bank of England’s Financial Policy Committee (FPC) has warned that the growth of new lending to already indebted firms, through leveraged-loans, has parallels to the subprime mortgage boom which ended with the global financial crisis in 2008. Minutes from the FPC’s latest meeting also reveal warnings over the rise in loans with weaker covenants…
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The Financial Conduct Authority (FCA) has confirmed plans to extend access to the Financial Ombudsman Service (FOS) to more small and medium-sized enterprises (SMEs). The changes will mean that SMEs with an annual turnover below £6.5m and fewer than 50 employees, or an annual balance sheet below £5m will now be able to refer unresolved…
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A third of the 1.1 million UK SMEs with EU suppliers would be unable to operate without imports from the bloc, according to the latest SME Confidence Tracker from independent financial services provider, Bibby Financial Services (BFS). The research news comes as a potential ‘no-deal’ Brexit threatens to disrupt trade between the UK and EU, and…
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Bibby Financial Services (BFS) has announced that it has appointed Joe Waters as Head of Sales as it seeks to develop its services to small and medium-sized enterprises (SMEs) operating in the South of England. With industry expertise spanning over 30 years, Waters has held several senior positions in financial services, specifically supporting UK SMEs.…
Read moreThe latest Aldermore Future Attitudes study has revealed that a third (33%) of bosses at UK small and medium-sized enterprises (SMEs), equating to 1.81 million* firms with fewer than 250 employees, have personally suffered from anxiety, depression or another kind of mental health problem in the past five years. The report, which surveyed over a…
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The Director of a financing company has received a ten-year ban after heading a false invoice scheme to secure £4 million of illegitimate funds. David Marsden, from Exeter, was the Director of finance company First Capital Factors (FCF). Incorporated in 2009, FCF offered recourse factoring facilities for small and medium businesses where they would buy a company’s…
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Latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 10% in August, compared with the same month last year. The plant and machinery finance sector reported new business up in August by 10% compared with the same month in 2017, while…
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Rivers Finance Group, holding company of Rivers Leasing has been named in the Financial Times (FT) Future 100 UK, which lists the fast-growing companies making an impact on their industry or wider society.. The ranking comes months after Rivers Leasing was featured for the second consecutive year in the FT 1000: Europe’s Fastest Growing Companies. Launched…
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