business credit

Construction is the leading sector using credit to fund insurance premiums

27th June 2025 Alternative Business Lending | #business credit #business insurance

New analysis from Premium Credit has shown that the Construction sector borrows the most to fund insurance premiums. The Professional and Scientific sector saw the most growth in terms of using credit for insurance. The data showed that 54% of SMEs use some form of credit to pay for insurance premiums, borrowing an average of…

More companies and people using credit to cover tax bills

18th June 2024 Business Lending | #business credit #tax

New research by Premium Credit has seen strong growth in the volume of funding and number of customers it supports through its tax and VAT funding proposition, which allows companies and business owners to spread the cost of their VAT, corporation tax and self-assessment tax payments. The research found that in 2023, the total amount…

CFOs report the highest cost of credit in over a decade

18th October 2022 Commercial Collections and Recoveries | #business credit

The cost of borrowing money has reached its highest level since 2010, according to a survey of 87 Chief Financial Officers (CFOs) by Deloitte. Over half of CFOs (56%) rate credit as costly while over a third of finance leaders (39%) note that new credit is not easily available. The financial market impact of the…

Water retailers told to refund credit balances

25th January 2022 Business Utilities | #business credit

Water retailers will be required to return customers’ credit balances and make them aware of the risks associated with advanced payment schemes, in the event of a retailer failure, under new rules. Water regulator Ofwat approved the change to the non-household water retail code to add protections for business customers. The Consumer Council for Water (CCWater),…

Credit applications and approvals hit seven-year low

24th January 2022 Alternative Business Lending | #business credit

Credit applications and approvals hit seven-year low amid fears lenders will replicate approach to last recession, according to latest Small Business Index (SBI) by the Federation of Small Businesses (FSB). The research indicated that most small firms plan to grow over the coming 12 months but are being held back by struggles to recruit, increasing…

Business credit scores recovering well from the impact of the pandemic

3rd December 2021 Commercial Collections and Recoveries | #business credit

New research from Experian, which analyses 2.2 million UK businesses, has revealed that, on average, businesses’ credit scores are recovering well from the impact of the pandemic. Business credit score levels were back up to the pre-pandemic average of 44 by September 2021, compared to a score of 40 throughout most of lockdown. A business…

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