Credit, Collections & Insolvency News
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…
Read moreLatest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in 2016 – the sixth consecutive year of growth. New business in December 2016 fell by 13% compared with the same month in 2015. New business in the commercial vehicle finance…
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Aldermore has added two new senior appointments to it’s Asset Finance team. Patrick Jelly joins the Bank as Commercial Director for Asset Finance. Stewart Good joins as Head of Manufacturer and Dealer Services reporting into Jelly. Jelly joins from Pitney Bowes Global Financial Services where he worked for 15 years, latterly as Group Managing Director, Global…
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The Association of Alternative Business Finance (AABF) has launched with the major ambition of championing and promoting the best standards of industry practice. The seven founding members, Capify UK, Catalyst Finance, Credit4, Fleximize, Liberis, The Just Loans Group and YesGrowth have clearly defined four operating principles that members will be required to adhere to: Transparency…
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Equifax has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs. Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised. The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan…
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SME working capital solutions specialist Scottish Pacific Business Finance UK has announced a senior appointment. Rob Kelly has been appointed as senior business development manager at Scottish Pacific Business Finance UK, with the key responsibility to head up sales and develop new business through Scottish Pacific’s new central London office. Scottish Pacific head of international…
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