Credit, Collections & Insolvency News
New 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…
Read moreAlternative finance specialist, ThinCats has appointed a vastly experienced ex-banking professional to cover the Yorkshire region. Ben Kimball joins ThinCats after a 15-year career working with SMEs for the likes of Lloyds Bank Commercial Banking, Royal Bank of Scotland and Barclays. He has supported SMEs in both Yorkshire and Scotland during his career and is…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 15% by value and 10% by volume in May, compared with the same month in 2017. The percentage of private new car sales financed by FLA members through the…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 10% in May, compared with the same month in 2017. New finance for plant and machinery grew in May by 4% compared with the same month in 2017, while the commercial vehicle…
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Hampshire Trust Bank has announced that it has appointed of Charles McDowell as Managing Director of the Banks’s Specialist Mortgages Division with effect from 1 October 2018. McDowell has worked for Aldermore Bank since 2014, latterly as Commercial Director (Mortgages). He started his career at Deloitte. Charles will sit on HTB’s Executive Committee and will…
Read moreCODE Investing has announced that it has entered into along-termm strategic partnership with BNP Paribas Asset Management as part of the development of its Alternative Financing platform. As an origination partner to BNP, CODE Investing will provide direct lending access to unsecured SME loans of between £500,000 and £5 million. Under the leadership of Stéphane Blanchoz,…
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