Urgent call for more accessible finance options with 34% of SMEs at risk of closure

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.

Urgent call for more accessible finance options with 34% of SMEs at risk of closure

Apr 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.

Bluestone integrates with Siemens Financial Services API for strategic growth collaboration

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.

Bluestone integrates with Siemens Financial Services API for strategic growth collaboration

Apr 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.

Innovate UK and British Business Bank sign Memorandum of Understanding

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.

Innovate UK and British Business Bank sign Memorandum of Understanding

Apr 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.

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Healthcare recruitment agency boosts growth with £1.5m facility from Cynergy Business Finance

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.

Healthcare recruitment agency boosts growth with £1.5m facility from Cynergy Business Finance

Apr 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.

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 long-term support of Paragon Bank’s SME Lending division. Since working with Paragon Bank in 2020, JOB Logistics has purchased three waste tipping vehicles and a weighbridge through asset finance, totalling £95,000.

Paragon Bank supports JOB Logistics to grow its business through asset finance

Apr 11, 2024

Blackpool-based JOB Logistics has expanded its business and opened a new recycling centre with the long-term support of Paragon Bank’s SME Lending division. Since working with Paragon Bank in 2020, JOB Logistics has purchased three waste tipping vehicles and a weighbridge through asset finance, totalling £95,000.

Societe Generale to sell SGEF to Groupe BPCE

The much-anticipated sale of Societe Generale Equipment Finance (SGEF) remains on-track with today’s announcement that Societe Generale has signed a memorandum of understanding with Groupe BPCE. As part of the proposed acquisition, Groupe BPCE will take over most of SGEF’s activities, except for the Czech Republic and Slovakia which will remain part of Societe Generale.

Societe Generale to sell SGEF to Groupe BPCE

Apr 11, 2024

The much-anticipated sale of Societe Generale Equipment Finance (SGEF) remains on-track with today’s announcement that Societe Generale has signed a memorandum of understanding with Groupe BPCE. As part of the proposed acquisition, Groupe BPCE will take over most of SGEF’s activities, except for the Czech Republic and Slovakia which will remain part of Societe Generale.

British Business Investments announces £15m facility to Performance Finance Limited

British Business Investments is providing a £15m facility to Performance Finance Limited. The transaction will be structured as a block discounting agreement that will allow Performance Finance to provide funding support to smaller businesses looking to acquire business-critical assets to accelerate their growth.

British Business Investments announces £15m facility to Performance Finance Limited

Apr 11, 2024

British Business Investments is providing a £15m facility to Performance Finance Limited. The transaction will be structured as a block discounting agreement that will allow Performance Finance to provide funding support to smaller businesses looking to acquire business-critical assets to accelerate their growth.

Renaissance Asset Finance backs growth of family run haulage business with a £546,100 facility

Renaissance Asset Finance (RAF), the asset finance subsidiary of Arbuthnot Latham, recently supported a family-run specialist haulage hire, repair, and maintenance business with a £546,100 hire purchase agreement.

Renaissance Asset Finance backs growth of family run haulage business with a £546,100 facility

Apr 10, 2024

Renaissance Asset Finance (RAF), the asset finance subsidiary of Arbuthnot Latham, recently supported a family-run specialist haulage hire, repair, and maintenance business with a £546,100 hire purchase agreement.

Ocado's deliveries get the green light after securing Shawbrook funding

Ocado Retail Ltd (Ocado), the UK’s fastest growing supermarket, has secured a multi-million pound funding package from Shawbrook to strengthen its delivery capabilities across the UK. This investment will see the acquisition of 43 new refrigerated vans, enhancing Ocado's capacity to meet increased customer demand.

Ocado's deliveries get the green light after securing Shawbrook funding

Apr 10, 2024

Ocado Retail Ltd (Ocado), the UK’s fastest growing supermarket, has secured a multi-million pound funding package from Shawbrook to strengthen its delivery capabilities across the UK. This investment will see the acquisition of 43 new refrigerated vans, enhancing Ocado's capacity to meet increased customer demand.

Arbuthnot Banking Group delivers strong profitable growth for 2023

Arbuthnot Banking Group, the holding company for Arbuthnot Latham & Co., Limited, delivered strong and profitable growth for the year ended 31st December 2023, reporting a profit before tax of £47.1m. This represents a continued trend of improved financial performance compared to the prior years and an increase of 135% over 2022 which was £20.0m.

Arbuthnot Banking Group delivers strong profitable growth for 2023

Apr 09, 2024

Arbuthnot Banking Group, the holding company for Arbuthnot Latham & Co., Limited, delivered strong and profitable growth for the year ended 31st December 2023, reporting a profit before tax of £47.1m. This represents a continued trend of improved financial performance compared to the prior years and an increase of 135% over 2022 which was £20.0m.

Another record-breaking year for DF Capital as bank triples pre-tax profit

DF Capital, the Manchester-based early-stage bank, has announced another record year of financial performance as it publishes its audited annual results for the year ending 31 December 2023. The specialist bank which provides working capital solutions to dealers and manufacturers reported a pre-tax profit of £4.6m (up from £1.3m in FY2022) and achieved another record for new loan originations which equated to £1.2bn (up almost 20% year-on-year).

Another record-breaking year for DF Capital as bank triples pre-tax profit

Apr 09, 2024

DF Capital, the Manchester-based early-stage bank, has announced another record year of financial performance as it publishes its audited annual results for the year ending 31 December 2023. The specialist bank which provides working capital solutions to dealers and manufacturers reported a pre-tax profit of £4.6m (up from £1.3m in FY2022) and achieved another record for new loan originations which equated to £1.2bn (up almost 20% year-on-year).

Ultimate Finance hits new £100m double lending milestone

Asset-based lender Ultimate Finance has hit a new lending milestone with both their asset and bridging loan books hitting £100m milestones each at the end of the first quarter this year. These milestones are part of the lender’s impressive overall first quarter performance for 2024, including a record loan book of £342m at the end of Q1, up £60m (21%) on Q1 2023. 

Ultimate Finance hits new £100m double lending milestone

Apr 08, 2024

Asset-based lender Ultimate Finance has hit a new lending milestone with both their asset and bridging loan books hitting £100m milestones each at the end of the first quarter this year. These milestones are part of the lender’s impressive overall first quarter performance for 2024, including a record loan book of £342m at the end of Q1, up £60m (21%) on Q1 2023. 

Jason Hurwitz, Sales Director Europe at NETSOL Technologies to provide tech perspective in debate over asset finance margins at AFC Leaders’ Summit Europe

Jason Hurwitz, Sales Director Europe at NETSOL Technologies will be joining a discussion at the AFC Leaders’ Summit Europe led by Bill Stephenson, Global CEO of PEAC Solutions, around the challenge for the asset finance divisions of banks as they compete for alternate uses of bank capital.

Jason Hurwitz, Sales Director Europe at NETSOL Technologies to provide tech perspective in debate over asset finance margins at AFC Leaders’ Summit Europe

Apr 05, 2024

Jason Hurwitz, Sales Director Europe at NETSOL Technologies will be joining a discussion at the AFC Leaders’ Summit Europe led by Bill Stephenson, Global CEO of PEAC Solutions, around the challenge for the asset finance divisions of banks as they compete for alternate uses of bank capital.

Time Finance has ENABLE Funding facility with British Business Bank extended to £64.4m

The British Business Bank has agreed a facility increase that will provide £29.4m of funding to smaller UK businesses, through an existing ENABLE Funding transaction with independent specialist finance provider, Time Finance. The additional funding brings the total small business funding available through the facility to £64.4m. This further supports Time Finance in growing its pipeline and its proportion of own-book origination, so that it can provide more asset finance to UK smaller businesses.

Time Finance has ENABLE Funding facility with British Business Bank extended to £64.4m

Apr 03, 2024

The British Business Bank has agreed a facility increase that will provide £29.4m of funding to smaller UK businesses, through an existing ENABLE Funding transaction with independent specialist finance provider, Time Finance. The additional funding brings the total small business funding available through the facility to £64.4m. This further supports Time Finance in growing its pipeline and its proportion of own-book origination, so that it can provide more asset finance to UK smaller businesses.

Close Brothers Asset Finance powers eco-friendly fleet expansion

Offering carbon zero urban deliveries with their entire fleet comprising of zero-emission vehicles, Fin Mile Logistics Ltd was able to fund their recent fleet expansion with new finance agreements arranged by Close Brothers Asset Finance.

Close Brothers Asset Finance powers eco-friendly fleet expansion

Apr 03, 2024

Offering carbon zero urban deliveries with their entire fleet comprising of zero-emission vehicles, Fin Mile Logistics Ltd was able to fund their recent fleet expansion with new finance agreements arranged by Close Brothers Asset Finance.

Shire Leasing PLC completes acquisition of Shire Securities Limited

Shire Leasing PLC has acquired 100 per cent of commercial loans company, Shire Securities Limited (SSL), trading as Shire Funding Solutions and Shire Merchant Services. The acquisition brings the specialist B2B loan resources and capabilities into Shire Leasing’s repertoire, enabling the company to meet the evolving needs of its customers.

Shire Leasing PLC completes acquisition of Shire Securities Limited

Mar 28, 2024

Shire Leasing PLC has acquired 100 per cent of commercial loans company, Shire Securities Limited (SSL), trading as Shire Funding Solutions and Shire Merchant Services. The acquisition brings the specialist B2B loan resources and capabilities into Shire Leasing’s repertoire, enabling the company to meet the evolving needs of its customers.

Shawbrook Group's 2023 results report an ‘exceptional’ year

Specialist finance provider, Shawbrook, has announced its full-year results for the year ended 31st December 2023. Reporting another exceptional year in 2023, Shawbrook’s full-year results demonstrated their consistent focus on growth and efficiency, delivering an underlying profit before tax of £302 million and an underlying cost to income ratio of 38.2%.

Shawbrook Group's 2023 results report an ‘exceptional’ year

Mar 28, 2024

Specialist finance provider, Shawbrook, has announced its full-year results for the year ended 31st December 2023. Reporting another exceptional year in 2023, Shawbrook’s full-year results demonstrated their consistent focus on growth and efficiency, delivering an underlying profit before tax of £302 million and an underlying cost to income ratio of 38.2%.

Shawbrook unveils CapEx Loan to fuel UK SME growth

A new loan product specifically designed to empower UK small and medium-sized enterprises (SMEs) in their growth aspirations has been launched today by Shawbrook. The CapEx Loan is a fixed-term, unsecured loan offering financing of up to £100,000.

Shawbrook unveils CapEx Loan to fuel UK SME growth

Mar 21, 2024

A new loan product specifically designed to empower UK small and medium-sized enterprises (SMEs) in their growth aspirations has been launched today by Shawbrook. The CapEx Loan is a fixed-term, unsecured loan offering financing of up to £100,000.