Credit, Collections & Insolvency News
Just 11% of the £416 billion in the total stock of loans to businesses are now being provided on a fixed rate – dropping by a third from 18% two years ago – leaving businesses with huge exposure to rising interest rates, says Hadrian’s Wall Capital, the London-based specialist debt adviser. The drop came as…
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Zopa has announced a governance restructure in advance of launching its next-generation bank. The re-structure will establish separate boards for the Zopa P2P business, proposed bank (subject to banking licence approval) and Group in order to facilitate the increasing scale of the business, ensure good corporate governance and protect the interests of its customers. The…
Read moreThinCats, the alternative funding specialist, has announced a senior hire to cover the North West region. Richard Lamb joins ThinCats to lead new business origination throughout the North West, after nearly a decade as Relationship Director at NatWest, and having been in corporate banking since 1992. He joins the company’s growing team of experienced bankers who…
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A new report by Aldermore titled Future Attitudes has revealed that just under a quarter (23%) of SMEs, representing 1.27million small and medium-sized businesses across the UK, are missing out on new business opportunities due to a lack of available funding a 4% increase on the previous year. The report, which surveyed over a thousand business…
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Shire Leasing has announced structural changes to their leadership team. Mark Picken is to move to CEO with Helen Lumb taking the CFO role and Malcolm Workman to be COO. This new structure will see the various business disciplines report through Lumb and Workman and provide a broader management spread and greater focus on the…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million fell in February by 1%, compared with the same month last year. The plant and machinery finance and IT equipment finance sectors reported new business growth in…
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New annual figures, published by UK Finance – for the first time since it took over most of the activities of the Asset Based Finance Association – show a steady increase in invoice finance and asset-based lending in 2017. UK Finance members provided IFABL to 42,000 businesses at the end of 2017, worth a total…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) for deals of up to £20 million grew by 4% in January, compared with the same month last year. Including high-value deals, new business increased by 3% over the same period. The plant and…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is to host the Credit and Collections Technology Awards at this year’s CSA Gala Dinner on 13 September. The co-branded event, which will form part of the CSA’s UK Credit and Collections Conference (UKCCC), reflects the Association’s growing recognition…
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SME finance monitor shows only 41% of SMEs seeking finance were confident the bank would lend to them in Q4 2017. Nic Beishon, Head SME of Commercial at Equifax, said “There are millions of companies in the UK with fewer than 10 employees and many who apply for finance often have a limited credit history –…
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Peer-to-peer (P2P) business lending platform ArchOver, has announced that Bill Johnston will join its board of directors as a non-executive director (NED). In his role, Johnston will support ArchOver in formularising its training and development programme, to ensure it has the right talent in place as it continues to scale. Bill Johnson said “In the…
Read moreFifty-five percent of UK SMEs are unable to access all funding needed to grow, and without the right knowledge or education on how to obtain it. Research from Liberis has found. Liberis report says that SMEs contribute more than £200bn a year; with this number expected to grow by almost 20% by 2025. The report…
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Aldermore, has appointed Sue Hayes to the newly created role of Group Managing Director of Retail Finance. Hayes will join the Bank in June. Reporting to Phillip Monks, Chief Executive Officer of Aldermore, Hayes will be responsible for managing the existing Bank’s mortgages and savings businesses as well as expanding into new areas. Since its…
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