Credit, Collections & Insolvency News
LendInvest and Pepper UK, have agreed to form what is believed to be the industry’s first partnership between a UK online property finance marketplace and an outsourced loan servicing business. Under the terms of the partnership, Pepper UK will take responsibility for servicing all new loans originated by the LendInvest team. The LendInvest team will…
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Nucleus Commercial Finance has reached £500million of lending and plans to double this to £1bn in the next 12 months. Lending is up by 100% since April 2016 as more SMEs look for flexible finance solutions to fund their future growth. Since launch in 2011 Nucleus has lent to UK businesses ranging from start-ups to…
Read moreAsset based finance is increasingly taking market share from bank overdrafts as a key source of funding for SMEs, says the Asset Based Finance Association, the body representing the invoice finance and asset based lending industry in the UK and the Republic of Ireland. The ABFA explains that at any one time an average £9.5…
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Aldermore, the specialist bank, has made two senior appointments to its Business Finance risk team. Jon Flagg has joined as Risk Director for Asset Finance and Clive Gould has been appointed Risk Director for Invoice Finance. Having started his financial services career in corporate lending at NatWest, Flagg has over two decades of asset finance risk…
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Almost half of SMEs (49%) across the manufacturing sector have aspirations for growth over the next three months, compared with only 31% six months ago immediately after the EU referendum, according to the new quarterly research from Hitachi Capital’s British Business Barometer. The percentage of SMEs anticipating decline is also down from 12% to 9%,…
Read moreHenry Howard Finance (HHF), has added to its management team by appointing Anne Williams as Chief Operating Officer (COO). Williams has more than two decades of senior management experience at GE Capital. Joining GE Capital in 1994, Mrs Williams quickly rose up the ranks, eventually spending more than three-and-a-half years as fulfilment leader, helping the…
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A collaborative working agreement between the National Association of Commercial Finance Brokers (NACFB), Towergate Insurance and Funding Circle, means that NACFB members can now arrange an unrestricted number of commercial loans with peer-to-peer lenders without jeopardising their insurance cover. Under the terms of the trade body’s membership, NACFB brokers must have professional indemnity insurance which…
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Aldermore have released a new report which reveals that a fifth (19%) of all small and medium-sized enterprises (SMEs) – equating to 1.04 million firms in the UK with under 250 employees – have missed out on at least one new business opportunity in the past 12 months due to a lack of available finance.…
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Asset based finance to businesses is up 13% since last year, hitting an all-time high of £22.2 billion, rising from £20.6 billion the previous year, says the Asset Based Finance Association (ABFA), the body representing the asset based finance industry in the UK and the Republic of Ireland. The ABFA says that a key driver…
Read moreThe Finance & Leasing Association (FLA) latest figures show that asset finance new business (primarily leasing and hire purchase) grew by 16% in January, compared with the same month in 2016. New business in the plant and machinery finance and business equipment finance sectors was up by 35% and 21% respectively, while commercial vehicle finance…
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Independent Growth Finance (IGF) has appointed Paul Edmeades as the firm’s Head of Underwriting for Asset Based Lending. Edmeades joins the business from Shawbrook Business Credit, where his role was Business Development Director for over two years. He has also held previous positions at GE Commercial Finance and NMB Heller, and has over 20 years’ experience in…
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Aldermore has announced the appointment of Rachel Lintott as Head of Internal Sales and Support for Asset Finance. Lintott has over 16 years of experience within financial services, beginning her career with Lombard in 2001, before spending the last 13 years supporting the development of Deutsche Leasing’s UK business. During her time at Deutsche, Lintott held several…
Read moreFollowing the Spring Budget announcement from Phillip Hammond, Markus Kuger, Senior Economist at Dun & Bradstreet has given his thoughts on what this means for UK Businesses and how they still need to be vigilant in light of Brexit. “In the latest spring budget, Chancellor of the Exchequer Phillip Hammond has announced his vision to make…
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