White Oak UK, one of the UK’s largest alternative providers of business finance, today announced it has broken through £1.5bn in lending on its own book. Carl D’Ammassa, CEO of White Oak UK, said: “This milestone comes at a time when SMEs are finding it increasingly challenging to secure business funding through more traditional methods, […]
Alternative Business Funding (ABF) and leading insurance broker, Jelf, has announced a new strategic collaboration, providing Jelf’s 250,000 commercial clients with greater access to a wide range of business funding products. The collaboration will see Jelf, who recently announced it will be rebranding as Marsh Commercial in January 2020, introduce its clients to the innovative […]
Reach Commercial Finance has just celebrated its fifth anniversary by meeting key commercial milestones, team expansion and planning for future growth. The bespoke brokerage division of Leonard Curtis, Reach is now a 12-strong UK-wide team that works across all 18 Group offices, within an organisation of over 200 professional services advisers. Headquartered in Manchester, […]
Despite an intense political climate and uncertain economic ground over the third quarter of this year, business confidence is stable. This is reflected in the latest SME Health Check Index, which shows a bounce back from the lowest ever recorded score in Q2. The report from Virgin Money UK, owner of Clydesdale and Yorkshire Bank […]
Brookes HC Recruitment has enjoyed a complete turnaround in fortunes thanks to Ultimate Finance providing an invoice finance facility and back office support. A financial issue with a client pushed the Birmingham-based healthcare recruitment firm to the brink but partnering with Ultimate Finance helped them turn things around. The specialist asset-based lender supported Brookes through […]
Tech giant Amazon’s current yearly revenue sits at $265.468bn, but how does the revenue of small businesses around the world compare to the tech giant’s fortune? Latona’s has analysed Eurostat and United States Census Bureau data to reveal how the revenue of small businesses compares to that of Amazon. Coming out on top is Switzerland, […]
ThinCats has today announced a move to an institution-only funding model for future loans. No new loans will be offered on the P2P Platform operated by Business Loan Network (BLN), one of the ThinCats Group companies. The P2P Platform has entered a run-off phase and has closed to new investors. Investors already using the P2P […]
The latest MarketFinance Business Insights charts late payment trends between 2013 and 2019, analysing over 100,000 invoices. The data sheds light on how long SMEs are waiting to be paid, how late these payments were and the impact. The analysis suggests that businesses typically agree 45-day payment terms from completion of work or delivery of […]
Leading digital bank Starling researched the UK’s gender pay gap using variables of age and sector to uncover just how much pay differs between the sexes. Data was taken from the Office for National Statistics (ONS) 2019 report, Annual Survey of Hours and Earnings (ASHE) and refers to the most recent 2018-2019 tax year. New […]
Benign economic conditions and low debt servicing costs have helped UK banks to maintain a low level of domestic credit losses in recent years. We estimate that such losses will be around £9bn, or just 0.32% of domestic loans, this year. 2019 losses would need to rise to around £18bn – double our estimate–to reach […]
