Credit, Collections & Insolvency News
The pace of capital investment has fallen in 2017 and is forecast to slow even further in 2018 according to the latest ICAEW Economic Forecast. Business investment is forecast to be 2.1% this year, the second weakest since the global financial crisis. As companies continue to ‘wait and see’ what kind of post-Brexit settlement is…
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Investec Bank has acquired Amicus Commercial Finance. In a statement, John Wilde Managing Director at Amicus Commercial Finance revealed the agreement he said “I will continue to lead the team and, operationally, it will be business as usual with all of our staff and processes remaining unchanged. Our focus will continue to be to provide you and…
Read moreSimon Cockerill has been appointed as Head of Sales at Kent Reliance. Cockerill was formerly at Virgin Money and was the Regional Sales Manager. In his new role he will oversee all of Kent Reliance’s sales activity, including broker and network partnerships. He will also be responsible for increasing the impact of the field business…
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The Supreme Court handed down a judgment in the case of Tiuta International Limited (in Liquidation) v De Villiers Surveyors. The question before the Supreme Court was: can a lender recover all its loss on a refinance loan from a negligent valuer, or is the lender limited to the “top up” advanced after the existing…
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Expanding commercial lending has been a strategic focus for many banks over the last few years, and this movement aligns with the growing number of Government-backed schemes to support SME lending. However, challenges inherent within commercial credit processes often hinder growth efforts. When it comes to commercial lending, most credit processes – from application through…
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Responding to the 2017 Autumn Budget, Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said “With costs rising and consumer demand flagging, small firms will welcome today’s business-friendly Autumn Budget. It was good to see the Chancellor’s speech acknowledge our concerns about the VAT threshold. Dragging thousands of more small firms into the hugely…
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New research from bank Cambridge & Counties Bank reveals that just one in 10 (11%) business owners describe the strength of their firm’s working capital facilities as ‘very strong’ even though the business is doing well. Nearly half (45%) described it as ‘average’ while 12% said it was ‘weak’. Despite these findings, just 29% of respondents…
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Through a strategic alliance and the acquisition of a 10% stake in Caple, BNP Paribas Asset Management is providing an innovative platform to offer alternative credit to European small and medium-sized enterprises (‘SMEs’). Caple facilitates access to alternative credit for SMEs, working with international institutional investors to address gaps in the funding landscape by offering…
Read moreAlternative lending specialist, ThinCats has announced a senior hire to cover the East Midlands region. Mark Tunley joins ThinCats as Origination Manager, East Midlands, as ThinCats gears up for its next period of growth, and after the company announced a £200m funding programme in conjunction with its parent company, ESF Capital. Tunley oins ThinCats after 32…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell by 6% in September, compared with the same month last year. In Q3 2017, new business fell by 2% compared with the same quarter in 2016. While new finance for business equipment grew…
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MarketInvoice has expanded its mission in the business finance space by launching business loans today. This will complement their suite of invoice finance solutions, allowing them to better service the working capital needs of UK businesses. The launch announcement comes as MarketInvoice rebrands, representing its evolution into a business finance company. Businesses will now be…
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Ashley Finance have appointed Dawn Trustam as its new Sales Director. Trustram had previously worked at Funding 365 as a Business Development Manager for just under two years, where she was responsible for managing the whole of England and Wales. She has also worked as a Business Executive, supporting four external BDM’s and specialising in all aspects of…
Read moreAs speculation grows that the Bank of England Policy Committee (MPC) will increase interest rates at its next meeting in November, the ICAEW is advising businesses to be prepared following over 8 years of historically low rates of 0.5% and, since the Brexit vote, 0.25%. Matthew Rideout, ICAEW Director of Business, said: “Many businesses have…
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