Urgent call for more accessible finance options with 34% of SMEs at risk of closureMore flexible finance options are needed in the UK as 28% of SMEs are being turned down for funding. That is the finding from a survey of 500 SMEs by invoice finance company Novuna Business Cash Flow, which highlights the critical need for more accessible and flexible financing options for small and medium-sized enterprises if they are to survive. Urgent call for more accessible finance options with 34% of SMEs at risk of closureApr 18, 2024 More flexible finance options are needed in the UK as 28% of SMEs are being turned down for funding. That is the finding from a survey of 500 SMEs by invoice finance company Novuna Business Cash Flow, which highlights the critical need for more accessible and flexible financing options for small and medium-sized enterprises if they are to survive. |
Viewpoint: FLA broker accreditation schemeFollowing the recent Asset Finance Connect (AFC) webcast on the Finance & Leasing Association’s (FLA) broker accreditation scheme, AFC asked an investor in asset finance lenders and brokers his view on the FLA proposals for the scheme. Brokers are unsurprisingly reluctant to disagree publicly with their lender-partners. This investor prepared the following for us but asked not to be named. Viewpoint: FLA broker accreditation schemeApr 18, 2024 Following the recent Asset Finance Connect (AFC) webcast on the Finance & Leasing Association’s (FLA) broker accreditation scheme, AFC asked an investor in asset finance lenders and brokers his view on the FLA proposals for the scheme. Brokers are unsurprisingly reluctant to disagree publicly with their lender-partners. This investor prepared the following for us but asked not to be named. |
Why asset finance brokers should get accredited by the FLADuring the latest Asset Finance Connect (AFC) webcast, representatives from the Finance and Leasing Association and the broker community came together to discuss the FLA’s broker accreditation scheme and its implications for the broker channel. Announced by Chair John Phillipou during February’s Finance & Leasing Association (FLA) annual dinner, the FLA’s new broker accreditation scheme is designed to drive through changes in the asset finance broker-lender channel that the FLA hopes will improve efficiency and increase both compliance and channel transparency. Why asset finance brokers should get accredited by the FLAApr 17, 2024 During the latest Asset Finance Connect (AFC) webcast, representatives from the Finance and Leasing Association and the broker community came together to discuss the FLA’s broker accreditation scheme and its implications for the broker channel. Announced by Chair John Phillipou during February’s Finance & Leasing Association (FLA) annual dinner, the FLA’s new broker accreditation scheme is designed to drive through changes in the asset finance broker-lender channel that the FLA hopes will improve efficiency and increase both compliance and channel transparency. |
Asset Finance Europe 50 2023 - maintaining growth in turbulent timesThe annual ranking of Europe’s leading asset finance providers today reveals the leasing companies that delivered industry growth during a year in which the asset finance industry continued to face a period of economic uncertainty. The Asset Finance Europe 50, sponsored by Alfa, is the unique European annual ranking survey of business equipment and fleet lessors that provides an objective overview of all parts of the European leasing market. Asset Finance Europe 50 2023 - maintaining growth in turbulent timesNov 09, 2023 The annual ranking of Europe’s leading asset finance providers today reveals the leasing companies that delivered industry growth during a year in which the asset finance industry continued to face a period of economic uncertainty. The Asset Finance Europe 50, sponsored by Alfa, is the unique European annual ranking survey of business equipment and fleet lessors that provides an objective overview of all parts of the European leasing market. |
Solifi Global Leasing Report 2023 reveals growth as the leasing industry emerges from the pandemicThe new Solifi Global Leasing Report 2023 reveals a promising 9.3% increase in new business volumes in 2021, as the global leasing industry emerged from the pandemic and equipment investments rebounded. The report highlights that the top 50 countries reported new business volume of US$1.463 billion in 2021, up from US$1.338 billion in 2020. Solifi Global Leasing Report 2023 reveals growth as the leasing industry emerges from the pandemicMar 01, 2023 The new Solifi Global Leasing Report 2023 reveals a promising 9.3% increase in new business volumes in 2021, as the global leasing industry emerged from the pandemic and equipment investments rebounded. The report highlights that the top 50 countries reported new business volume of US$1.463 billion in 2021, up from US$1.338 billion in 2020. |
Bluestone integrates with Siemens Financial Services API for strategic growth collaborationIndependent finance broker, Bluestone, has collaborated with Siemens Financial Services (SFS) to offer its customers an end-to-end online platform that enables an auto-decisioning facility for their financing requirements. The integration, achieved through an API (application processing interface), allows quick quotes to be drawn up and finance applications to be decisioned within minutes, all from within Bluestone’s native operational systems. Bluestone integrates with Siemens Financial Services API for strategic growth collaborationApr 18, 2024 Independent finance broker, Bluestone, has collaborated with Siemens Financial Services (SFS) to offer its customers an end-to-end online platform that enables an auto-decisioning facility for their financing requirements. The integration, achieved through an API (application processing interface), allows quick quotes to be drawn up and finance applications to be decisioned within minutes, all from within Bluestone’s native operational systems. |
Fignum joins Asset Finance Connect as newest Corporate MemberAsset Finance Connect (AFC) is delighted to welcome Fignum as its newest Corporate Member. “AFC are thrilled that Fignum has joined our ever-growing community of asset finance corporate members,” commented Edward Peck, CEO of Asset Finance Connect. Fignum joins Asset Finance Connect as newest Corporate MemberApr 17, 2024 Asset Finance Connect (AFC) is delighted to welcome Fignum as its newest Corporate Member. “AFC are thrilled that Fignum has joined our ever-growing community of asset finance corporate members,” commented Edward Peck, CEO of Asset Finance Connect. |
Innovate UK and British Business Bank sign Memorandum of UnderstandingInnovate UK and the British Business Bank have further strengthened their collaboration by signing a Memorandum of Understanding (MoU). As partners dedicated to fostering innovation and growth of UK businesses across the country, this new collaboration will see the two organisations working even more closely together to co-create new opportunities to promote investment and to support UK businesses through better tailored offerings. Innovate UK and British Business Bank sign Memorandum of UnderstandingApr 17, 2024 Innovate UK and the British Business Bank have further strengthened their collaboration by signing a Memorandum of Understanding (MoU). As partners dedicated to fostering innovation and growth of UK businesses across the country, this new collaboration will see the two organisations working even more closely together to co-create new opportunities to promote investment and to support UK businesses through better tailored offerings. |
Place your nominations for the Asset Finance Connect Social AwardAwards nominations are starting to roll in for the 2024 Asset Finance Connect (AFC) Summer Awards. Celebrating innovation and industry best practice in auto and equipment finance, the Awards will be held on 9th July 2024 at City Central in a spectacular setting within the grounds of the Honourable Artillery Company in London. Book your table now for the year’s must-attend event! One of this year’s ‘people’ awards is the AFC Social Award highlighting an individual, team or organisation which has made a substantial contribution to some aspect of managing the social impact of an organisation or the industry. Place your nominations for the Asset Finance Connect Social AwardApr 16, 2024 Awards nominations are starting to roll in for the 2024 Asset Finance Connect (AFC) Summer Awards. Celebrating innovation and industry best practice in auto and equipment finance, the Awards will be held on 9th July 2024 at City Central in a spectacular setting within the grounds of the Honourable Artillery Company in London. Book your table now for the year’s must-attend event! One of this year’s ‘people’ awards is the AFC Social Award highlighting an individual, team or organisation which has made a substantial contribution to some aspect of managing the social impact of an organisation or the industry. |
Solifi announces completion of integration with CodatSolifi has announced the completion of the integration with Codat, a provider of enhanced-connectivity automated solutions, which is now available on Open Finance Platform. The out-of-the-box functionality enables asset-based lending (ABL) firms to make smarter, faster and actionable credit decisions. Using pre-built APIs, the integration with Codat permits consented business data, such as accounts receivable and debtor information, to securely integrate into operational systems in real-time, providing ABL customers with a more comprehensive view of risk. Solifi announces completion of integration with CodatApr 16, 2024 Solifi has announced the completion of the integration with Codat, a provider of enhanced-connectivity automated solutions, which is now available on Open Finance Platform. The out-of-the-box functionality enables asset-based lending (ABL) firms to make smarter, faster and actionable credit decisions. Using pre-built APIs, the integration with Codat permits consented business data, such as accounts receivable and debtor information, to securely integrate into operational systems in real-time, providing ABL customers with a more comprehensive view of risk. |
Healthcare recruitment agency boosts growth with £1.5m facility from Cynergy Business FinanceHealthcare recruitment agency, Sirona Medical Ltd (SML), has secured a £1.5m invoice discounting facility from asset-based lending (ABL) specialists Cynergy Business Finance (CBF). Headquartered in Sawbridgeworth, Essex, SML was founded in 2015 by Ray and Natasha Sullivan. The business works with healthcare organisations across the public and private sector to support their staffing needs for a range of roles including nurses, doctors, support workers, social workers and more. Healthcare recruitment agency boosts growth with £1.5m facility from Cynergy Business FinanceApr 15, 2024 Healthcare recruitment agency, Sirona Medical Ltd (SML), has secured a £1.5m invoice discounting facility from asset-based lending (ABL) specialists Cynergy Business Finance (CBF). Headquartered in Sawbridgeworth, Essex, SML was founded in 2015 by Ray and Natasha Sullivan. The business works with healthcare organisations across the public and private sector to support their staffing needs for a range of roles including nurses, doctors, support workers, social workers and more. |
UTB’s Nathan Mollett takes on the Marathon des SablesNathan Mollett, Head of Asset Finance at United Trust Bank, and Rev. Dr. K. Bill Dost, Group CEO at DND Finance, have successfully completed day one of the Marathon des Sables, described as ‘the toughest footrace on Earth’. UTB’s Nathan Mollett is currently competing in the 2024 event to raise money for two deserving charities - the South East Cancer Help Centre and Wings for Life, a charity which funds research into cures for spinal cord injuries. Nathan has covered the full costs of entry to the event and travel expenses himself so every penny raised will be split equally between the two charities. UTB’s Nathan Mollett takes on the Marathon des SablesApr 15, 2024 Nathan Mollett, Head of Asset Finance at United Trust Bank, and Rev. Dr. K. Bill Dost, Group CEO at DND Finance, have successfully completed day one of the Marathon des Sables, described as ‘the toughest footrace on Earth’. UTB’s Nathan Mollett is currently competing in the 2024 event to raise money for two deserving charities - the South East Cancer Help Centre and Wings for Life, a charity which funds research into cures for spinal cord injuries. Nathan has covered the full costs of entry to the event and travel expenses himself so every penny raised will be split equally between the two charities. |
Martin McTague, National Chair of the Federation of Small Businesses to keynote UK Asset Finance Connect Conference in JuneLast December the Federation of Small Businesses (FSB) issued a super-complaint to the Financial Conduct Authority (FCA) highlighting the harsh lending practices of banks that demand excessive personal guarantees (PGs) for business loans. Asset Finance Connect (AFC) has invited FSB National Chair to come to the AFC UK Summer Conference on 6th June 2024 at etc venues, County Hall, London to talk to its members about the FSB perspective on SME lending: how SMEs feel treated by lenders, and what lenders can do to make the SME journey better. Martin McTague, National Chair of the Federation of Small Businesses to keynote UK Asset Finance Connect Conference in JuneApr 09, 2024 Last December the Federation of Small Businesses (FSB) issued a super-complaint to the Financial Conduct Authority (FCA) highlighting the harsh lending practices of banks that demand excessive personal guarantees (PGs) for business loans. Asset Finance Connect (AFC) has invited FSB National Chair to come to the AFC UK Summer Conference on 6th June 2024 at etc venues, County Hall, London to talk to its members about the FSB perspective on SME lending: how SMEs feel treated by lenders, and what lenders can do to make the SME journey better. |
Restructure at Shire Leasing sees Helen Lumb take MD roleShire Leasing PLC has announced an Executive Board restructuring to drive continued growth plans. Effective April 1, 2024, Helen Lumb has assumed the role of Managing Director. Lumb brings a wealth of experience and an intimate knowledge of the company's operations, joining the company as Finance Director in 2014 and later taking up the role of Chief Financial Officer in 2018. Restructure at Shire Leasing sees Helen Lumb take MD roleApr 12, 2024 Shire Leasing PLC has announced an Executive Board restructuring to drive continued growth plans. Effective April 1, 2024, Helen Lumb has assumed the role of Managing Director. Lumb brings a wealth of experience and an intimate knowledge of the company's operations, joining the company as Finance Director in 2014 and later taking up the role of Chief Financial Officer in 2018. |
Viewpoint: It’s time to take the fight back to the regulatorsStephen Bassett, AFC’s community head for UK asset finance professionals, looks at the background to the FOS decisions over discretionary commission in vehicle lending. The news that Barclays is mounting a legal challenge to the Financial Ombudsman Service (FOS) ruling over unfair discretionary commission arrangements on a conditional-sale agreement for a car purchase is the first sign that lenders are challenging regulators to answer the obvious question about the motor finance market: what exactly have they done wrong? Viewpoint: It’s time to take the fight back to the regulatorsApr 12, 2024 Stephen Bassett, AFC’s community head for UK asset finance professionals, looks at the background to the FOS decisions over discretionary commission in vehicle lending. The news that Barclays is mounting a legal challenge to the Financial Ombudsman Service (FOS) ruling over unfair discretionary commission arrangements on a conditional-sale agreement for a car purchase is the first sign that lenders are challenging regulators to answer the obvious question about the motor finance market: what exactly have they done wrong? |
FCA warns motor finance lenders over costs of commission probeThe Financial Conduct Authority (FCA) has issued a warning to motor finance firms they must maintain adequate financial resources at all times, in light of potential claims arising from the regulator’s review of the historical use of motor finance discretionary commission arrangements (DCA). The regulator also reports that many lenders are struggling to provide the data required for its assessment. FCA warns motor finance lenders over costs of commission probeApr 12, 2024 The Financial Conduct Authority (FCA) has issued a warning to motor finance firms they must maintain adequate financial resources at all times, in light of potential claims arising from the regulator’s review of the historical use of motor finance discretionary commission arrangements (DCA). The regulator also reports that many lenders are struggling to provide the data required for its assessment. |
Arkle to climb ArkleOn 11th May the Arkle Finance team will be climbing Arkle Mountain in the far North-West of Scotland in aid of Alzheimer’s Research UK. It is a long-held ambition of Arkle’s Managing Director, Daniel Bailey, to climb Arkle’s name-sake. Dan explains that Arkle Finance was named after the famous racehorse that achieved notable Cheltenham Gold Cup success – a nod to Arkle’s racing heritage as part of the Weatherby’s Banking Group. It was the racehorse that was named after the mountain. Arkle to climb ArkleApr 11, 2024 On 11th May the Arkle Finance team will be climbing Arkle Mountain in the far North-West of Scotland in aid of Alzheimer’s Research UK. It is a long-held ambition of Arkle’s Managing Director, Daniel Bailey, to climb Arkle’s name-sake. Dan explains that Arkle Finance was named after the famous racehorse that achieved notable Cheltenham Gold Cup success – a nod to Arkle’s racing heritage as part of the Weatherby’s Banking Group. It was the racehorse that was named after the mountain. |
Barclays leads Funding Xchange Series B funding round Barclays leads FXE’s Series B funding round, which is open to a consortium of FXE clients. The fu... |
Paragon Bank supports JOB Logistics to grow its business through asset finance Blackpool-based JOB Logistics has expanded its business and opened a new recycling centre with the... |
Societe Generale to sell SGEF to Groupe BPCE The much-anticipated sale of Societe Generale Equipment Finance (SGEF) remains on-track with today... |
British Business Investments announces £15m facility to Performance Finance Limited British Business Investments is providing a £15m facility to Performance Finance Limited. The tran... |