Credit, Collections & Insolvency News
Gross lending to SMEs rose by 13 per cent year-on-year to just over £16 billion in 2024 according to latest UK Finance data. The research showed that in each quarter of last year gross lending was up compared to the same quarter in the previous year. However, lending remains significantly below levels reported in the…
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The Department for Business and Trade is launching a review into SME lending, due to the increase in the price of debt in recent years. Commenting on the Government’s publication of a call for evidence on SME access to finance, Emma Lovell, Lending Standards Board (LSB) Chief Executive, said “SMEs are the backbone of the…
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A new EY ITEM Club forecast has predicted bank-to-business lending growth to increase from 2.9% in 2024 to 4.5% in 2025 – the highest rate since 2020 – and 5.6% in 2026 as borrowing rates continue to fall Bank lending to UK businesses grew by 2.9% in 2024, as falling interest rates boosted market confidence…
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One in three of these businesses anticipate needing financial support as they head into the new year according to the latest research from accounting and advisory firm, BDO. BDO’s bi-monthly survey of 500 mid-sized business leaders, which looks at the challenges and opportunities facing UK companies with a turnover between £10m-£300m, reveals over a quarter (29%)…
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New research by EY ITEM Club has found that total bank lending grew by 2.6% this year (up from – 2.2% in 2023), 3.7% in 2025 and 4.3% in 2026. The research forecasts that business lending is set. to grow 3.1% this year (up from – 2.1% in 2023), 5.6% in 2025 and 6.2% in…
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Nearly a third of commercial finance brokers say they frequently encounter difficulties in securing funding for their clients due to changes in funder policies, latest survey data from Asset Advantage can reveal. Just over 27% of brokers say they encounter challenges frequently or very frequently, more than half (56.8%) face difficulties on occasion. The biggest…
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A survey by Purbeck Personal Guarantee Insurance has found that 60% of small business owners have felt in the dark about the risks and 25% have backed out of a loan because it had a personal guarantee attached. Todd Davison, MD of Purbeck Personal Guarantee Insurance said “We welcome the strengthening provisions on personal guarantees by the Lending…
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Latest UK Finance data shows that overall gross lending was broadly stable at around £4 billion in Q2 2024. This is very similar to gross lending in Q1 2024, but again higher than a year previously when it was £3.6 billion. Growth in lending over the first half of this year varied across sectors and…
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The British Business Bank has relaunched its Growth Guarantee Scheme with the approval of 41 lenders to provide loans to thousands of small businesses over the next two years. Jeremy Hunt, the former chancellor, first confirmed the scheme’s continuation in his March budget. The Growth Guarantee Scheme is designed to support access to finance for…
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Improving confidence among business leaders is the primary factor in growing demand from SMEs for external funding according to researchby Atom bank. The quarterly poll of commercial brokers by Atom bank found that the appetite for external funding continues to grow, with almost two thirds (63%) of brokers stating that they were seeing a growing…
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Latest figures from UK Finance has shown further growth in business lending from high street banks took place at the start of 2024, following an increase at the end of 2023. Quarter 1 (Q1) 2024 saw a 15% increase compared with the previous quarter. At just over £4bn, this was 8% higher than the same…
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Higher interest rates will cost British businesses an additional £4.7 billion a year for the rest of the decade – and much of this cost will be pushed onto consumers, according to a new study by management consultancy Baringa. Baringa believes companies are experiencing the largest such hike in debt-related costs ever faced by the…
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Three in ten SME finance experts (28%) report that the most requested loan amount at the start of 2024 was over £100,000, 56% higher than the same period last year, according to iwoca’s Q1 2024 SME Expert Index. The new research showed that seven in ten (70%) brokers are optimistic about SMEs prospects in 2024,…
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