Credit, Collections & Insolvency News
Asset Based Lending (ABL) and commercial lending specialist IGF has announced that it’s Executive Director, John Onslow has announced his steps into retirement after nine years of leadership. Since founding IGF in its current guise, Onslow has been instrumental in driving the business forward. Under his leadership, IGF has grown its lending portfolio from approximately…
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President Donald Trump has set out plans for new import taxes on all goods entering the US, with a baseline tariff on all imports of at least 10% and higher rates for countries that the White House described as the ‘worst offenders.’ While goods from the UK are set to face a new 10% tariff,…
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Redwood Bank has announced it has appointed Sergio Cruz as Chief Financial Officer (CFO) Cruz joined Redwood in 2018 as Head of Risk, before moving to Director of Risk, Director of Treasury, Chief Treasury and Strategy Officer and ALM, before becoming Deputy CFO. He had previously worked at PWC, One Savings Bank and Amicus Finance.…
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The Institute of Directors’ (IoD) Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose slightly to -58 in March 2025 from -64 in February. Business leader’ confidence in their own organisations also rose slightly to +5, from +2 in February. In terms of underlying indicators, cost expectations remained at…
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British business confidence remained stable at 49% in March, matching February’s six-month high, according to the Lloyds Bank Business Barometer. The data showed that retailers showed particularly strong confidence, aligning with recent data indicating a surprising rise in retail sales volumes in February. Retail confidence rose seven points to 58 per cent, a post-pandemic high,…
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New research by Shawbrook has found that only four in ten (40%) feel that SMEs are a high priority to the current Government. The data also showed that 42% of SMEs in the UK feel the incoming NIC hikes are going to negatively impact them. A third (33%) said that the Autumn budget last year…
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The Chancellor, Rachel Reeves, has delivered her Spring Statement outlining the Government’s economic plans. Responding to the announcement, Policy Chair of the Federation of Small Businesses (FSB), Tina McKenzie, said “Today’s growth figures are a stark reminder of the urgent need to get the economy moving. The whole of Government must now step up and…
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One in five small businesses are turning to credit cards to manage cash flow, highlighting a growing trend among entrepreneurs facing unpredictable income and rising expenses. While credit cards can offer flexibility and short-term relief, relying on them without a strategy can quickly spiral into high-interest debt and financial strain. The British Business Bank found…
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Latest data from the Office of National Statistics (ONS) has shown that inflation fell slightly to 2.8% in February down from 3% in January. Core Inflation came in at 3.5% in the 12 months to February, down from the 3.7% in January and lower than forecast. ONS Chief Economist Grant Fitzner said “Inflation eased in…
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Cashflow finance provider eCapital Commercial Finance (eCapital) has appointed Lisa Cleaver as Chief Operating Officer (COO). In her role as COO, Cleaver will focus on driving operational efficiency throughout the business while ensuring eCapital’s strategic vision translates effectively into execution. David Tilling, CEO at eCapital, said “Lisa’s appointment demonstrates our commitment to building a strong…
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Small and medium-sized enterprises (SMEs) across the UK are urging the government to take decisive action to stimulate economic growth, with tax cuts and skills development emerging as key priorities. New research from specialist lender Shawbrook shows that over a third of SME leaders believe tax breaks for reinvestment (36%) and research and development (34%)…
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Two connected technology companies which claimed to protect people online and enhance their social media image have been shut down by the Insolvency Service following concerns they were running a direct debit scam. Manchester-based companies Affinity Technology Solutions Limited and RCSR Tech Limited were both wound-up at the High Court. Affinity claimed to offer a…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.5%. Commenting on the latest update from the Bank of England, Neil Rudge, Chief Banking Officer for Commercial at Shawbrook, said “The Bank of England has chosen to keep the base rate frozen in the final decision of the tax…
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