Bibby Financial Services expands trade finance service

Bibby Financial Services (BFS), the UK’s largest independent invoice financier, has extended its trade finance service to include invoice discounting for smaller businesses. The new proposition will apply to companies with turnover of up to £5 million. BFS already offers invoice discounting on trade finance for corporate businesses with turnover in excess of £5 million.

Bibby Financial Services expands trade finance service

Feb 21, 2018

Bibby Financial Services (BFS), the UK’s largest independent invoice financier, has extended its trade finance service to include invoice discounting for smaller businesses. The new proposition will apply to companies with turnover of up to £5 million. BFS already offers invoice discounting on trade finance for corporate businesses with turnover in excess of £5 million.

Finance with a personal touch retains importance in digital age

UK businesses prioritise strong personal relationships and sector expertise when choosing equipment finance providers, just as much as they value competitive rates, according to industry executives. Companies have revealed that straightforward application processes and direct links to someone who understands their business remain vitally important, despite the increasing use of technology in lending. This is particularly the case for small to medium-sized enterprises (SMEs), who need expert guidance about making long-term financial commitments. This means that lenders could gain a competitive edge by maintaining a human touch, while at the same time using digitalisation to simplify the lending process and accelerate decision-making.

Finance with a personal touch retains importance in digital age

Feb 21, 2018

UK businesses prioritise strong personal relationships and sector expertise when choosing equipment finance providers, just as much as they value competitive rates, according to industry executives. Companies have revealed that straightforward application processes and direct links to someone who understands their business remain vitally important, despite the increasing use of technology in lending. This is particularly the case for small to medium-sized enterprises (SMEs), who need expert guidance about making long-term financial commitments. This means that lenders could gain a competitive edge by maintaining a human touch, while at the same time using digitalisation to simplify the lending process and accelerate decision-making.

Positive growth for asset finance reported by British Business Bank

There is strong growth in demand for alternative finance from UK small businesses in a sign that they are diversifying their search for funding, according to a new report. The British Business Bank’s 2018 Small Business Finance Markets report reveals that while major banks are still the dominant channel for funding, the value of SME asset finance deals rose 12% in 2017 compared to 2016, while the value of peer-to-peer business jumped 51% over the same period. Entrepreneurial activity in the UK remains strong, with a highest-ever population of 5.7 million companies at the start of 2017, including a record number of new businesses created at around 414,000. The British Business Bank is the UK’s national economic development bank. It was established in 2014 to make finance markets for smaller businesses work more effectively.

Positive growth for asset finance reported by British Business Bank

Feb 20, 2018

There is strong growth in demand for alternative finance from UK small businesses in a sign that they are diversifying their search for funding, according to a new report. The British Business Bank’s 2018 Small Business Finance Markets report reveals that while major banks are still the dominant channel for funding, the value of SME asset finance deals rose 12% in 2017 compared to 2016, while the value of peer-to-peer business jumped 51% over the same period. Entrepreneurial activity in the UK remains strong, with a highest-ever population of 5.7 million companies at the start of 2017, including a record number of new businesses created at around 414,000. The British Business Bank is the UK’s national economic development bank. It was established in 2014 to make finance markets for smaller businesses work more effectively.

EMEA

Aldermore praised for flexibility in finance deal

Feb 20, 2018

Specialist bank Aldermore has been praised for its flexibility in arranging a £6 million lending facility for a UK company. John Hargreaves (C&H), a family-owned cardboard manufacturer, has agreed a full asset-based lending facility to drive expansion. The company specialises in the manufacturing of corrugated cardboard for end-users including packaging specialists, box manufacturers, exporters and storage, and freighting contractors.

Americas

Ally Financial partners with DriveTime

Feb 20, 2018

Ally Financial has announced it is to provide up to $750 million for the purchase of retail contracts from DriveTime, the nation's second largest vehicle retailer focused solely on used vehicles. Under the terms of the agreement, Ally will provide committed financing for the purchase of retail contracts for 12 months. The agreement is designed to support DriveTime's expansion into the near-prime segment.

Asia Pacific

Standard Chartered commits $20bn to Chinese growth plan

Jan 10, 2018

Standard Chartered Bank has announced a commitment to support the Chinese-led ‘Belt & Road’ initiative by facilitating financing of at least $20 billion by 2020. Standard Chartered argues it is one of only a few truly global banks that can facilitate trade, capital and investment flows across Belt & Road markets. It already makes around 85% of its income from Asia, Africa and the Middle East.