British businesses buoyed by the UK’s economic recovery have returned £1.3 billion in furlough cash, according to new statistics from the Government. The figures show that firms who have overclaimed or decided they no longer need payments received through the Coronavirus Job Retention Scheme handed back £300 million in the last three months. In total,…

Investment firm Fintex Capital, has launched an innovative suite of buy-now-pay-later (BNPL) lending products aimed at established businesses seeking smart and cost-efficient debt financing and new avenues of growth. Over the past six months, Fintex has developed a range of bespoke BNPL products for creditworthy businesses, to help them access new markets and unlock value…

Gross lending to SMEs was £5.2 billion in Q2 2021, down from £7.6 billion in Q1 2021, reflecting declining demand for new funding and falling applications according to latest analysis by UK Finance. The research showed that weaker demand led to gross lending continuing to decline across all regions and sectors. Whilst repayments accelerated in…

New research from Aldermore bank shows small and medium-sized enterprises (SMEs) are more confident in growing their business since lockdown restrictions have eased, as they reveal the amount they plan to invest in their business’ has risen 190% to £283,500, up from £97,719 in February. Two out of five SMEs will spend on new equipment…

New figures released by the Finance & Leasing Association (FLA) has show that total asset finance new business (primarily leasing and hire purchase) grew by 3% in July 2021 compared with the same month in 2020. In the first seven months of 2021, new business was 24% higher than in the same period in 2020.…

Banking and specialised financing software specialist, Sopra Banking Software has announced that its Sopra Financing Platform (SFP) pricing engine, Freehand is now available as Software-as-a-Service REST API.  Currently, live with a major Asset Finance lender, the SFP Freehand Connect API provides access to the same rapid and accurate pricing calculations trusted by the industry right…

Analysis by Innovate Finance has found that the pandemic had reversed years of growth among alternative lenders and resulted in large banks significantly increasing their market share. The fintech industry body said the emergency Bounce Back Loan Scheme saw £47.3 billion worth of state-backed credit channelled to more than 1.5 million companies. However, because non-bank…

Non-bank lender, Enra Specialist Finance has launched a new underwriting and case management system for its bridging finance product. The new platform has been built by Enra’s in-house team for its West One bridging business. The aim is to enhance the origination journey with improved data capture, automated document production and underwriting control. The new…

Small business lender, iwoca has launched a cash advance product on Funding Xchange for small business online sellers. iwoca will be the first lender in the use Open Banking to offer fully automated revenue-based repayments to e-commerce businesses with a business bank account on the marketplace. Small business owners operating on platforms such as eBay…

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