Credit, Collections & Insolvency News
Independent Growth Finance (IGF) has appointed Nick Price as CFO. Before joining IGF, Price held the Interim CFO position at OakNorth, following a six year career at Close Brothers where he was Finance Director for the Commercial Division; previous employment includes KPMG, Goldman Sachs and Deutsche Bank. John Onslow, Chief Executive Officer of IGF said…
Read moreShawbrook Bank has announced the appointment of Neil Jones as Head of Asset Based Lending within its business finance division. Jones said “Shawbrook is well known for its quality of products and services in the asset-based lending community, and has built a solid reputation in structuring and managing new and existing transactions. The range of…
Read moreUltimate Finance Group has announced four new senior appointments across the business, New hires include Steve Noble, who takes the role of Chief Operating Officer (COO). Noble comes with over two decades of experience in the financial services arena, having held senior roles at high street banks and challenger organisations, and is the latest addition to…
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Nearly half (47%) of small and medium-sized business (SME) owners claim the business advice they received in the last year from their mainstream bank had a negative impact on their business operations and one in six (16%) of these suggested their business is now in a worse position as a result. This is according to…
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Platform Black announced it will be changing name to Sancus Finance with immediate effect. The move comes as part of a strategic review of operations by Platform Black’s owners, GLI Finance Limited (GLI). The strategic review, designed to simplify GLI’s structure, included a transfer of its holdings in Platform Black to the newly formed Sancus…
Read moreNew figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 13% in November, compared with the same month in 2015. The plant and machinery finance and business equipment finance sectors reported new business up in November by 18% and 33% respectively,…
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Aldermore’s Business Finance division has announced the appointment of Stephen Farrelly as Head of Relationship Management in its Manchester office. In his new role, Stephen will be responsible for overseeing Invoice Finance client relationships in the North, as well as continuing to develop the Bank’s Asset Backed Lending proposition and capabilities. Farrelly reports into Ross McFarlane,…
Read moreIndependent Growth Finance (IGF) has announced the appointment of Mark Lindsay as Managing Director of its Invoice Finance division. Lindsay moves from his previous role as Managing Director at Bibby Trade and International Finance, where he spent more than five years leading a team of Trade Finance experts providing finance solutions to SMEs. Prior to…
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Barclays has launched a mobile business lending service capable of providing instant loans to businesses. Though almost a third of British SMEs are not planning on applying for a loan despite acknowledging it would boost their business, the research shows that 64% of SMEs’ turnover would increase if they successfully secured the right loan, which…
Read moreAccording to a new report commissioned by Amicus Commercial Finance, well over half (61%) of invoices issued by UK small and medium sized enterprises (SMEs) remain unpaid within the debtor day period. Of these, almost three-quarters (70%) of firms say they rely on getting paid during their debtor day period to avoid facing a shortage…
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Every year UK subcontractors are forced to write-off more than £16,000 each, due to unpaid work, according to an industry report. The Subcontracting Growth report by Bibby Financial Services (BFS) found that smaller construction firms are at the receiving end of penalty clauses and disputes with main contractors and other firms over work completed. According to…
Read moreRateSetter has appointed Michael Hoare as Head of Risk Analytics and Retail Credit. Hoare joins from PayPal UK, where he was Chief Credit Risk Officer, overseeing underwriting, customer management and collections strategies for unsecured consumer and small business lending. Before PayPal UK, Michael worked at Capital One, where he held a number of positions including Credit…
Read moreA New report from KPMG and peer to peer lender (P2P) TWINO shows UK leads the way in alternative finance but also suggests that continental European lenders catching up. The report shows that the UK still leads the way in alternative finance, with four times higher volumes in aggregate than the rest of Continental Europe.…
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