Credit, Collections & Insolvency News
The Peer-to-peer lending industry was given a boost of confidence as the government began legislating to clarify that no business borrowing through a peer-to-peer platform needs to be regulated as a ‘deposit taker’ (often referred to as a ‘banking licence’) unless that is their core business. The legislation will ensure that the industry can continue…
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A new corporate supply chain finance platform has launched, which aims to improve credit management and provide additional transparency, security and flexibility for banks and their corporate customers. The new platform is called Monimove, and aims to enable banks to create new revenues and be able to track approved funds, optimising their liquidity management in…
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As 2018 fast approaches, new data from MoneySuperMarket reveals that the average Brit will see in the New Year with over two thousand pounds (£2,172) of debt hanging over their heads. Despite 55 percent of Brits feeling confident that they will stay within budget this Christmas, the leading price comparison website reveals that eight in 10 would…
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The government has annnounced that it has launched a complaint handling service of the Small Business Commissioner to ensure fair payment practices for small businesses. This follows the appointment of Paul Uppal to the role of Small Business Commissioner. Regulations made by Small Business Minister Margot James mean the Commissioner can now handle complaints from small…
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One in three consumers shopped ‘blindly’ this Christmas – by not checking their bank balance before, during or after hitting stores and retail websites according to latest research by Asda Money Despite 77 percent setting a typical budget of £539 the study of 2,000 adults found overall one fifth spent more than they intended to.…
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Latest data released by UK Finance has shown that the invoice finance and asset-based lending sector is providing more finance to UK businesses than ever before. Advances (the amount of funding being provided to clients at the close of the most recent quarter) are up 13 per cent year on year and stand at just over…
Read moreDavid Matthews has been appointed the new Vice President of the ICAEW. Matthews joined ICAEW Council in 2010, and has previously served on the Institute’s Professional Standards Board as well as, currently, the Board of the ICAEW and Chair of its Technical Strategy Board. Matthews joined KPMG after graduating from London School of Economics in…
Read moreThe number of Scottish companies at higher than average risk of insolvency rose markedly over the course of 2017, according to insolvency and restructuring trade body R3. In December, 26.6% of Scottish firms fell into the category of companies at greater than usual risk of insolvency, up by 36% from January 2017, when the equivalent…
Read moreAsset finance provider, Haydock Finance has announced that Apollo Global Management has signed an agreement to acquire a majority shareholding in th company, investing alongside Haydock’s founder and Executive Chairman Jon Wilkinson. The agreement is subject to customary conditions and is expected to close in Q1 2018. Established in 1980, Haydock is one of the…
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Specialist small business lender, Ashley Finance, has appointed Scott Brown as its new Regional Sales Director for the West Midlands. Brown joins from RBS Invoice finance, where he had a successful three years within the commercial finance team. Prior to that, he spent four years covering the Birmingham area for Natwest’s commercial finance division and,…
Read moreAIM-listed specialist independent provider of finance facilities, 1PM has announced the proposed acquisition of MH Holdings (UK) Limited, the holding company for Academy Leasing Limited for up to £12m. Academy Leasing has grown organically since its launch in 1987 to become one of the UK’s leading providers of equipment and vehicle finance. The acquisition will allow Academy…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 7% in October, compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up in October by 6% and 13% respectively, compared…
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Data Interconnect has announced background to a major financial investment, in a move that supports a hefty growth strategy, using research and development (R&D) as a strengthening resource. Tom Dodd-Noble, Managing Director of Data Interconnect said “Investing in growth isn’t just important for the long-term success of our business – it’s also important for the…
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