Credit, Collections & Insolvency News
The Government-backed Bank Referral Scheme since the scheme which was launched in November 2016 means that small businesses have been able to source more than £15 million in funding. The scheme allows small businesses rejected by high street lenders to source alternative finance through the referral scheme. The scheme has enable financial support to nearly 19,000 small…
Read moreHenry Howard Finance Group has announced it has appointed a new Group Chief Financial Officer (CFO). Mark Tweed will join Henry Howard Finance in October, where he will take up responsibility as Group CFO and Head of Legal. Tweed joins from Opel Vauxhall Finance, where he was held various pan European CFO and CEO roles…
Read morePeer-to-peer business lender, Assetz Capital, has announced the appointment of Chris Macklin as Chief Risk Officer. With over 35 years of experience at RBS/NatWest, including four years as head of complex customer management and strategic relationship management, Macklin brings to the company a wealth of knowledge and experience in strategic, credit and risk management within the financial…
Read moreUK Finance has published its July Business Finance update indicating that lending to manufacturers grew by 7.1 per cent in the last 12 months, in contrast to a wider 2.2 per cent contraction overall in UK business borrowing. Whilst K business deposits for non-financial companies grew by 1.9 per cent in the last 12 months. Commenting…
Read moreBibby Financial Services (BFS) has appointed Paul Stack as Commercial Director for Europe and Asia. Stack will oversee product, pricing and commercial strategy implementation across the regions, reporting into Richard Carter, CEO for Europe and Asia. Stack joined BFS in April 2015 as UK Product Director, tasked with driving the development, management and innovation of…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole. The commercial vehicle finance and IT equipment finance sectors…
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The finalists for Credit Connect’s second annual Credit & Collections Technology Awards 2018, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect, brings together credit and collections technology executives to honour the industry’s leading players across 18 categories. The Technology focused-Awards scheme seeks…
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Barclays has announced that it is partnering with fintech business MarketInvoice, a specialist online invoice financing platform. The bank says it has committed to a significant minority stake in the firm to give Barclays’ SME clients seamless access to innovative forms of finance. Founded in 2011, MarketInvoice has funded invoices worth more than £2.7 billion, boosting…
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Small firms are finding it increasingly costly to raise new finance, according to the latest research from the Federation of Small Businesses (FSB). The findings were announced ahead of a Bank of England (BoE) decision to raise interest rates to 0.75% Four in ten (42%) small firms describe new credit as ‘unaffordable’ in Q3 2018,…
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Commercial finance provider, Independent Growth Finance (IGF) has announced the appointment of Neil Kindness as Asset Based Lending (ABL) Director. Kindness has over 30 years’ experience in invoice finance and asset-based lending. Most recently Kindnessl was an invoice finance and asset-based lending specialist at Santander for over four years. Prior to this, Neil also held…
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The Financial Conduct Authority (FCA) has opened a consultation on new rules for loan-based crowdfunding platforms. The changes the FCA is proposing are designed to address the ways in which the loan-based crowdfunding model has developed since the FCA last reviewed the sector in December 2016. The FCA has observed the variety of loan-based crowdfunding business…
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UK Finance has published its latest business lending figures for June. Key data highlights include: Lending to manufacturers grew by 9.2 per cent in the last 12 months, in contrast to a wider 1.8 per cent contraction overall in UK business borrowing. UK business deposits for non-financial companies grew by 2.3 per cent in the…
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SME Lender, Spotcap has appointed Andrew Caulfield as a Senior Underwriter. He joins the lender’s growing team, which now consist of 130 employees globally. Caulfield brings over six years of experience in risk management with RateSetter in the UK and AIB – Allied Irish Banks, to the role. At Spotcap, he will be responsible for assessing…
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