Credit, Collections & Insolvency News
The British Bankers’ Association (BBA) has added Just Loans Group to it’s associate membership. Just Loans becomes the first alternative commercial lender to join the association. Just Loans Group Chief Executive Officer John Davies said “I don’t believe that traditional banks and alternative lenders are in competition with each other as they share the common aim…
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The Asset Based Finance Association (ABFA) has reported that the total amount of lending UK businesses secured through invoice finance has passed the £20.3 billion barrier, up 5% from £19.3 billion last year. The amount of Invoice Finance and Asset Based Lending secured by UK businesses has risen by over a quarter (27%) over the…
Read moreResearch by Barclays Business has found that up to £550 million is lost every year by SMEs forgetting to pay in or losing cheques written to their business. Of those that have lost or forgotten to deposit a cheque, two in five (38%) admit to doing it only on one occasion, however one in five…
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United Trust Bank has appointed Richard Murley as its new Chairman
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IGF has appointed Richard Spielbichler as ABL Director for the North West whilst Jeff Greenfield joins as ABL Director for North London and the Home Counties.
Read morehttp://www.cityam.com/248074/small-businesses-lost-6bn-last-year-not-chasing-bad-debts
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Peer to peer lender ThinCats has launched a new two-tiered grading system for all loans on the platform’s primary market. The new system will allow investors to quickly determine two key factors that determine the quality of a loan: credit quality and security quality. Credit quality, the ability of a company to service its loan obligations, will…
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Richard Whitehouse has been appointed Sales Director at Platform Black. Commenting on his new appointment, Richard Whitehouse said “The fintech market is exploding and this opportunity to join a business in the sector, with such strong lending principles and access to large funding pools, was impossible to ignore. Platform Black’s track record and investment from our parent,…
Read moreHH Cashflow has appointed Robin Goddard as it’s new Head of Sales.
Read moreThe latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2016) reveal that Company Insolvency numbers have gone down. The main findings of the report were: Total company insolvencies were lower than the previous quarter and also decreased on the year This decrease was mainly driven by a decrease in compulsory…
Read moreAndrew Ward has joined Hitachi Capital Invoice Finance as Senior Business Development Manager.
Read moreThe Strategic Banking Corporation of Ireland (SBCI) and Bibby Financial Services Ireland (BFSI) have announced a €45million lower-cost invoice financing fund for Irish SMEs. An extension of SBCI’s on-going efforts to drive competition and choice in the Irish lending market, the announcement sees €45 million in funding being made available to Irish businesses. The agreement enables…
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As part of the changes Ian Steward has been appointed Managing Director of Close Brother Invoice Finance. Steward was previously Managing Director of Close Brothers Invoice Finance North. George May and Fiona Parkinson will now become Commercial Directors for the north and south.
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