Credit, Collections & Insolvency News
New research from Capital Economics, commissioned by SME lender iwoca, has found that SMEs receiving a loan can increase their monthly revenues by an average of 19%. The analysis is based on data from current accounts of thousands of iwoca customers, finds that taking a loan is associated with an increase in revenues of nearly a fifth (19%) within…
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Purbeck Insurance Services has reported a significant rise in the number and value of personal guarantee backed loans secured by young businesses. In Q2 2025, 16% of small business loans supported through Purbeck’s Personal Guarantee Insurance (PGI) were for businesses under two years old. This marks a sharp increase from 9% in Q1 2025 and just 6% in Q2 2024,…
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Latest data from Purbeck Insurance Services has found SME loans for working capital fell 24% in Quarter 1 (Q1) 2025. The number of SMEs needing finance to keep their business on an even keel has not been this low since Q3 2024, based on Purbeck’s data. In contrast, refinancing deals grew dramatically year on year…
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New research from iwoca has found that big-ticket loans are set to see increased interest from small and medium-sized enterprises (SMEs), as growth ambitions resurface. The research revealed that two in five (42%) brokers think loans above £100,000 will see the most growth in demand in the next twelve months. Currently, loans over £100,000 comprise…
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Time Finance has released new data that has found that businesses’ understandings, attitudes and behaviours towards commercial finance, with loans topping the bill as the most commonly and widely used form of finance. Figures found that 93% of UK businesses are aware of loans, in comparison to only 76% who are aware of Invoice Finance,…
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More than 10,000 additional cases of suspected Covid loan fraud have been identified following a government review of settled loans. The British Business Bank review of loans which had been defaulted on and settled by the Government shows that the number for the 2023 financial year has almost doubled from 16,846 to 31,437. The fraudulent loans for…
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New research by Purbeck Insurance has found that the average personal guarantee-backed loan rose 9% to £174,000 in Quarter 4 (Q4) in 2024. In the final quarter of 2024, there was a 25% increase in small businesses applying for personal guarantee backed business loans compared to the same quarter of 2023. Indeed, for the whole…
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The Government has paid out £7.39bn to settle bad Covid-era loans, with £2.23bn more in arrears and £750m in default. With data showing that the Government paid out £1.2bn to settle pandemic emergency loans that had gone bad in Q2, Department of Business, Energy and Industrial Strategy figures suggest taxpayers could ending up paying £11.5bn…
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The Government has announced that the Government-backed Recovery Loan Scheme to small businesses will be extended by a further two years. The Recovery Loan Scheme was originally launched in April 2021 to help businesses recovering from the Covid-19 pandemic and has supported almost 19,000 businesses with an average of £202,000 in support. The scheme has…
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Almost 200,000 small businesses have fallen into arrears on their bounce-back loan repayments. Data from the British Business Bank (request by Purbeck Personal Guarantee Insurance) found that the company administering the Bounce Back Loan Scheme (BBLS), shows that 193,000 firms had failed to meet their repayment terms at the end of June. The figures represent…
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According to new research conducted by Time Finance, more than 70% of financial intermediaries believe their clients will need some form of funding support over the next 6 months to deal with and overcome the economic challenges that 2022 continues to throw at them. The findings come as many of their SME clients face supply…
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Chancellor Rishi Sunak has announced the extension Recovery Loan Scheme to 30th June 2022 as part of his latest budget announcement. Commenting on the budget Chirag Shah, CEO of Nucleus Commercial Finance, said “Today’s Budget demonstrates the government’s commitment to supporting British businesses. The extension of the Recovery Loan Scheme will provide SMEs with a…
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