Credit, Collections & Insolvency News
Close Brothers has announced the acquisition of Novitas Loans. Novitas is a leading provider of loans to the legal sector and will become part of Close Brothers Invoice Finance and Rentals, led by David Thomson. Novitas specialises in providing working capital for law firms and also loans to their clients purchasing specific legal services, from divorce…
Read moreBibby Financial Services (BFS) has appointed Craig Durnell as Managing Director for its export finance business. First joining BFS from RBS in 2014, Craig has held a variety of roles at the independent funder, including head of operations, and most recently, head of South West business centre. Prior to joining RBS, Craig spent more than…
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Peer to Peer lender Kulfink has received full FCA regulation. The accreditation marks a milestone seal of approval for the Kuflink Group, validating the company’s founding premise of customer-centric transparency, financial security and premium industry service as a paramount objective. Kuflink is part of the Kuflink Group, which is also compromised Kuflink Bridging. Launched in December 2011, the company is a lender in the…
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The Peer-to-Peer Finance Association (P2PFA) has published lending volume figures for its nine-member platforms for the first three months of 2017. The associations says ” the figures underscore the continued development of the sector with the maintenance of impressive expansion in lending volumes and investor participation.” With cumulative levels of lending at almost £8.5 billion,…
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The British Business Bank today announces that it is providing a £37.4m facility to Shire Leasing to increase its funding to smaller businesses for the acquisition of business-critical assets. The transaction is being made under the Bank’s ENABLE Funding programme, which aims to increase the supply of funding to smaller businesses in the UK. The…
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The Asset Based Finance Association (ABFA) has appointed Michael Walsh as Chairperson of the organisation in Ireland and Mark O’ Rourke as Vice Chairperson. Walsh, who has over 25 years’ experience in the Irish banking sector, is currently Director of Ulster Bank Invoice Finance. Michael has held a number of senior roles within the company…
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Siemens Financial Services has appointed Paul Walsh as Regional Corporate Director for its Invoice Finance team. Walsh was previously with Bibby Financial Services, where he served as regional corporate sales manager. Prior to that, he spent 25 years at Barclays Bank as regional sales manager. Welcoming Paul to his new post, Ian Cole, head of…
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CYBG, owner of Clydesdale and Yorkshire Banks, is making a minimum of £6 billion of lending available from 2017 to 2019 to help fuel the growth of small and medium sized businesses in the UK. The Bank’s long-term commitment to lending includes significant amounts of finance available across the UK economy through 2017, including: £1…
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Redwood Bank, a new UK SME Business bank, has secured a banking licence following approval from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Redwood will now enter its mobilisation phase and expects to launch to customers later in 2017. Redwood Bank is wholly owned by Redwood Financial Partners Ltd (RFP), a company…
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MarketInvoice, the peer-to-peer online invoice finance marketplace, observed its best quarter and record month (March) of invoice finance funding since starting in 2011. Invoices worth £54.7m were funded from UK businesses last month, providing them with critical working capital.Q1 2017 has proved to be a record period for MarketInvoice as it scales towards its goal…
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New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 8% in February, compared with the same month in 2016. The plant and machinery finance and business equipment finance sectors reported new business up in February by 11% and 24% respectively,…
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Bibby Financial Services (BFS), has appointed Ben Smith as UK Corporate Sales Director. After joining BFS from British Nuclear Fuels Plc in 2010, Smith has held a variety of roles including Corporate Manager, Head of West Midlands Business Centre and – most recently – Head of Corporate for the Central region. Officially starting his new…
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Metro Bank, the revolution in British banking, has today announced the appointment of Alec Viney as Commercial Banking Director. Viney will be joining the bank’s specialist Large Commercial Banking team and will look after business customers in the south-east of England. Joining from HSBC, Alec has over 25 years’ experience in the industry and previously…
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