Credit, Collections & Insolvency News
Wesleyan Bank has announced it has added to its management team the appointment of Simon Welling as Director of Sales and Marketing. Welling, who joins from Paragon Asset Finance, will report to the company’s Chief Executive, Steve Deutsch. Deutsch, Chief Executive of Wesleyan Bank, said: “Simon will play an instrumental role in the development and…
Read moreSmall and medium-sized enterprises (SMEs) are increasingly turning to alternative sources of financing, according to a new OECD report. The report also shows that new bank lending is declining in a number of countries. Many SMEs remain over-reliant on bank credit, however, and the take-up of instruments other than straight debt varies greatly from one…
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The British Business Bank’s has published its 2018 Small Business Finance Markets report reveals welcome evidence that the UK’s small businesses are diversifying in their choice of finance. Although still the predominant channel, there are encouraging signs that small businesses are looking beyond their main bank for finance and turning to alternative sources. The value of SME…
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Lex Autolease has appointed Ashley Barnett to Head of Fleet Consultancy. Barnett has 25 years’ experience in accountancy, with a focus on vehicle funding, company car policy and salary sacrifice schemes. He has spent 19 years in the Lloyds TSB group and previously worked within the Co-operative group. Managing Director of Lex Autolease, Tim Porter,…
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Alternative finance specialist ThinCatshas made two new appointments to its credit team. Rob Thompson to the newly-created role of regional head of credit for the North. Thompson’s role will accelerate the rate at which Thincats is able to structure and process loans, in the way that best addresses the needs of companies and investors alike.…
Read moreAldermore has announced the appointment of Caroline Luxmore as Head of Commercial Mortgages, a newly created role within the Bank’s Business Finance division. Luxmore has been at Aldermore since 2012 and previously held the role of Senior Lending Manager in the commercial mortgages team and brings over 20 years extensive commercial real estate and residential…
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Esme Loans has joined a handful of leading alternative finance firms in a partnership with a NatWest and Royal Bank of Scotland (RBS) programme designed to help businesses access alternative sources of finance. Esme Loans, a digital lending platform owned and backed by NatWest, allows small and medium-sized businesses to quickly obtain unsecured loans of…
Read moreRyan Maginess, director of Camereye Contracts, has been disqualified from acting as a director of a limited company for ten years. Maginess was the sole director of the company. The disqualification followed an investigation by the Insolvency Service and was ordered at Edinburgh Sheriff’s Court. The disqualification began on 11 January 2018. The investigation found that the company…
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The number of debt decrees registered against Scottish businesses fell to a record low during 2017, according to figures released today by Registry Trust. There were 2,192 decrees issued against businesses in Scotland during 2017, 38 percent fewer than the previous year. The fall in decrees registered, coupled with a 58 percent decrease in 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 5% in 2017 – the seventh consecutive year of growth. New business in December 2017 increased by 4% compared with the same month in 2016. The plant and machinery finance and commercial…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer car finance market in 2017 were at a similar level to 2016, while the value of new business was up by 6% over the same period. New business in December 2017 fell 2%…
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The Peer-to-Peer Finance Association (P2PFA) has announces the appointment of Paul Smee as new independent Chair, succeeding Christine Farnish who is stepping down after a five-year term. This appointment follows a record-breaking year for the peer-to-peer lending sector with £2.9 billion lent through P2PFA platforms in 2017 alone. Smee brings more than 17 years’ experience…
Read moreToday marks the start of a UK rule change required by the Competition and Markets Authority (CMA) as part of its Retail Banking Investigation which means that banks must now set up an alert system which will help their customers avoid unnecessary charges. During an investigation, the CMA found that banks receive around £1.2 billion a…
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