The provisional data collated by the EU Federation for the factoring and commercial finance industry (EUF) shows that in 2020 factoring and commercial finance volumes in the EU decrease of 5.6% in factoring turnover. It is the first time in 11 years. Total factoring turnover in the EU reached €1.78tr comparing to €1.91tr in 2019. […]
Nucleus Commercial Finance, one of the UK’s leading fintech lenders, has today announced enhancements to its Business Growth Loans, helping to support more UK SMEs as lockdown restrictions are eased. The product, initially launched in March, was the industry’s first solution designed to support SMEs as the government’s Coronavirus Business Interruption Loan Scheme (CBILS) came […]
Time Finance plc, the AIM listed independent specialist finance provider, is pleased to announce the continued strengthening of its balance sheet with increasing Net Tangible Assets (“NTA”) and further increases in its cash reserves. Additionally, the Group continues to be supported by its key funding partners, having recently negotiated renewals and funding increases across a […]
Specialist short-term lender, Hope Capital has announced a new service proposition and restructuring of its new business division. In January, Sinead Moynihan joined the Hope Capital team from Mint Bridging, as part of its growth plans. The next phase of the growth strategy has started with a new proposition. This is to optimise the support […]
Allica Bank has launched its direct-to-SME banking offering and appointed three relationship managers and one new business executive to support the launch. The investment marks the bank’s mission to ‘bring back the local relationship manager’ for established small and medium-sized businesses – a group that typically is no longer offered a relationship manager with deep local knowledge and SME lending expertise. In response to the increased importance of relationship managers following Covid, Allica’s focus in its new direct banking offering is on strengthening its personalised and tailored service with […]
The number of new tech companies being set up in the UK rose by 13% in 2020 according to new analysis by leading audit, tax and consulting firm RSM. In total, there has been 14,301 tech businesses incorporated in 2020 according to data held by Companies House, a 13% increase compared with 12,696 in 2019. […]
Independent business lender White Oak has announced record monthly lending figures in March, with £70m lending provided to 724 SMEs across the country, including £58m provided from its own book. 31 March was White Oak’s highest day of lending ever with £9m lent from its own book. The record month capped off a strong Q1 […]
Reward Finance Group delivered its strongest ever new business performance in March, resulting in it breaking through the £90m lending milestone for the first time, and continuing a month-on-month growth trend since last Summer. In addition, Reward can today announce that it is expanding its geographical footprint and will be launching in both the Midlands […]
A ten-point action plan, which includes the creation of a new UK trade committee chaired by the prime minister, was launched today as part of a major new report. The Institute of Export & International Trade (IOE&IT) has published a Policy Platform paper that is designed to be a blueprint as to how the country […]
The first estimates for the factoring industry worldwide in 2020 have been announced today by the FCI secretary general. The global figure gives a significant indication that the industry had a very challenging year, in line with the havoc that the 2020 pandemic created globally, all countries impacted differently based on their own specific measures […]
