Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 18% in August, compared with the same month last year. New business reported by the commercial vehicle finance and business equipment finance sectors grew in August by 28% and 24% respectively, while…
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Sixty two per cent of a cross section of the UK’s insolvency industry believes that Brexit will lead to an increase in the number of business failures over the next 12 months, according to a survey conducted by international law firm Pinsent Masons. Over 400 insolvency practitioners attended th Restructuring and Insolvency conference, hosted by Pinsent…
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Santander has teamed up with Crowdfunder to launch a £200,000 fund to support social enterprises and community projects across the UK in a collaboration called Changemaker Fund.. This is the first time one of the UK’s largest banks has partnering with a crowdfunding platform. Community projects looking to support social change can present their ideas…
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http://www.cityam.com/250926/peer-peer-mortgage-lender-lendinvest-posts-133-per-cent
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The ONS released UK business figures which revealed that there were 2.55 million businesses registered in the UK in March 2016 compared with 2.45 million in March 2015, a rise of around 105,000 (4.3%). Tim Vine, Leader, Risk Products at Dun & Bradstreet said “These latest figures from ONS have demonstrated that the number of businesses in…
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Paragon Bank PLC’s asset finance division, Paragon Bank Asset Finance, has added to its business with the acquisition of one of the UK’s leading asset finance brokerages, Premier Asset Finance (Premier). Premier sources in excess of £100 million of lending per annum to a range of SME customers. Headquartered in Edinburgh, Premier has a national…
Read morePraetura Asset Finance a specialise provider of alternative funding to SMEs has secured £18m investment from British Business Bank Investments, the commercial arm of the British Business Bank, to boost the firm’s lending capabilities. Praetura launched just over two years ago, has already reached an £85 million turnover, providing asset-based finance, hire purchase, finance leasing and…
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United Trust Bank has promoted Robert Owen to Managing Director. Owen was responsible for the specialised mortgages division. Jo Edwards has also joined United Trust Bank as Business Development Director – Mortgages and Bridging.
Read moreRateSetter has published its 2015-16 accounts, showing that it increased revenues from £12.6million to £18.5million over the year. The company made a pre-tax loss of £4.9million, compared to a pre-tax profit of £476k for the preceding year. The company’s results are in line with expectations set out at the start of the year and reflect…
Read moreAldermore has appointed Lesley Rolfe as the Head of Asset Finance Operations. Carl D’Ammassa, Group Managing Director, Business Finance at Aldermore, said: “Aldermore’s Business Finance division is continuing to grow at an impressive rate, giving us the opportunity to expand our team and improve our operations and processes to drive this growth even further and improve…
Read moreMetro Bank has announced the appointment of Kevin Craven as Head of Invoice Finance. Craven joins the bank from Bibby Financial Services. Richard Saulet, Director of Invoice and Asset Finance at Metro Bank said: “I’m delighted to welcome Kevin to the growing team. Kevin brings with him extensive experience and a real desire to do the…
Read moreUltimate Finance has appoint Andrew Casey to it’s asset finance as Regional Director. Andy Ribbins Managing Director of Ultimate Asset Finance said “These are really exciting times for Ultimate and Andrew is a great addition to help us build our presence in the East of England. He joins us with an excellent reputation in the area, amongst…
Read moreThe National Association of Commercial Finance Brokers (NACFB) has launched it’s annual report. Despite the backdrop of political and economic uncertainty surrounding the EU Referendum, small business lending hit an all-time high over the past 12 months. Lending has increased by almost 30% (29.8%) to £20.7billion. The figures are based on business written by NACFB brokers between July…
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