Credit, Collections & Insolvency News
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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PeerPay has developed a cloud-based platform that links the larger, cash-rich firms within an Accountant’s client portfolio with smaller, client companies within the same community looking for money to grow. The brainchild of founders, accountant David Ireson-Hughes, Michael King, an experienced financial services executive, and Alan Burns an experienced technologist, the platform – called FloFunder –…
Read moreAldermore has announced that last year it provided over £1bIillon in new lending to SMEs, the backbone of the UK economy. The disclosure comes as the Bank releases its full year financial results for 2016. Aldermore’s Business Finance division comprises Asset Finance and Invoice Finance. In 2016, net loan growth in Asset Finance increased by…
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John Davies, The Just Loans Group PLC and Chairman of the Association of Alternative Business Finance provides background to the launch of the Association of Alternative Business Finance. Why was the AABF set up? Before last year’s AltFi.com annual European Summit a group of alternative lenders and industry commentators had a working dinner to test the enthusiasm for…
Read moreNatWest is set to launch a new digital platform to allow small and medium sized businesses to quickly obtain unsecured loans of up to £150,000. Esme Loans gives customers a fast decision on their lending application which, if successful, will result in rapid funding, potentially within an hour. Customers will also benefit from no early…
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Aldermore has appointed Graeme Elliot to its Invoice Finance team. Elliot joins as a Business Development Manager and reports to Stuart Baty, Head of Business Development – South, Invoice Finance. Elliot has over twenty years’ experience providing finance to SMEs, he joins from RBS where, from 1994, he built a career in senior portfolio management and held business…
Read moreRateSetter has collected back in £1billon in capital repayments from borrowers since the platform wrote its first loan in 2010. n total, RateSetter investors have lent almost £1.75 billion to individuals and businesses across the UK, including £668 million in 2016 alone. Alongside the £1 billion capital that has been repaid, RateSetter investors have earned £63m…
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Small and medium-sized enterprises (SMEs) are missing out on an opportunity to fund their business more effectively because they lack information about the benefits of asset based lending, a new study from Close Brothers reveals. Its research suggests many SMEs are sticking with inflexible and often unobtainable forms of credit because they aren’t aware of…
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Hampshire Trust Bank has made two senior appointment ins the past month. Chris Forsyth joins as Chief Operating Officer and Jon Maycock as Managing Director of Asset Finance. In his Executive role, Forsyth has responsibility for technology, change management, human resources and the bank’s savings business. Prior to joining, Forsyth fulfilled various roles within Investec, most…
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