Lack of available funding holds back a fifth of UK SMEs

Nearly a fifth (19%) of UK SMEs have missed a new opportunity in the past 12 months due to a lack of available funding, according to SME specialist bank Aldermore The bank’s latest Future Attitudes study shows medium-sized businesses are worst hit, with over a quarter (28%) saying they have been affected. The report, which surveyed over a thousand business decision-makers across the UK, found that those impacted are missing out on income worth an average of £76,888 each year.

Lack of available funding holds back a fifth of UK SMEs

Aug 22, 2019

Nearly a fifth (19%) of UK SMEs have missed a new opportunity in the past 12 months due to a lack of available funding, according to SME specialist bank Aldermore The bank’s latest Future Attitudes study shows medium-sized businesses are worst hit, with over a quarter (28%) saying they have been affected. The report, which surveyed over a thousand business decision-makers across the UK, found that those impacted are missing out on income worth an average of £76,888 each year.

Simply going for gold with £323,000 funding for mining equipment finance

Simply, the SME equipment finance specialist, has recently provided £323,000 to Scotgold Resources to buy crucial plant equipment to extract increasing amounts of the precious metal in Scotland. Scotgold is a gold exploration and development company that owns the Cononish mine in Scotland, near Loch Lomond. Cononish is the first commercial gold mine in Scotland. It produced gold for the first time in August 2016 and now aims to extract more than half a million tonnes of ore over the next 10 years.

Simply going for gold with £323,000 funding for mining equipment finance

Aug 21, 2019

Simply, the SME equipment finance specialist, has recently provided £323,000 to Scotgold Resources to buy crucial plant equipment to extract increasing amounts of the precious metal in Scotland. Scotgold is a gold exploration and development company that owns the Cononish mine in Scotland, near Loch Lomond. Cononish is the first commercial gold mine in Scotland. It produced gold for the first time in August 2016 and now aims to extract more than half a million tonnes of ore over the next 10 years.

Investec and Quantum join forces to accelerate broker growth

Investec Asset Finance and Quantum Funding have joined their broker manager teams in order to accelerate the team’s growth with broker customers. Quantum Funding is a subsidiary of Investec that specialises in asset finance for SMEs. As of August 2019 each broker manager will represent both Investec and Quantum and be aligned to a specific region within the UK.

Investec and Quantum join forces to accelerate broker growth

Aug 21, 2019

Investec Asset Finance and Quantum Funding have joined their broker manager teams in order to accelerate the team’s growth with broker customers. Quantum Funding is a subsidiary of Investec that specialises in asset finance for SMEs. As of August 2019 each broker manager will represent both Investec and Quantum and be aligned to a specific region within the UK.

EMEA

BNP Paribas Leasing Solutions UK to offer equipment finance to food and drink industry

Aug 21, 2019

BNP Paribas Leasing Solutions UK has set up a specialist division in Basingstoke to expand its agriculture division to include food and drink equipment finance. The division will be focussing on offering finance to help the food and drink industry fund the latest machinery, packaging and processing equipment. The team is headed-up by Paul Baker, head of food and agriculture along with Nicky Easton and Neil Curtis who are jointly responsible for business development.

Americas

CIT to acquire Mutual of Omaha Bank for $1 billion

Aug 21, 2019

CIT Bank N.A has announced a definitive agreement to acquire Mutual of Omaha Bank in a deal worth $1 billion. CIT Bank is a subsidiary of CIT Group and Mutual of Omaha is a savings bank subsidiary of Mutual. The acquisition is expected to close in Q1 of 2020, subject to regulatory approval and satisfaction of other customary closing conditions. The agreement excludes Mutual's mortgage subsidiary, Synergy One Lending.

Asia Pacific

Identifying growth opportunities in Islamic finance

Feb 08, 2019

Islamic finance is available in 56 countries through 1,389 sharia-compliant companies that have total assets under management (AUM) of $2.4 trillion, according to a 2018 study from Thomson Reuters. In 2017, the market grew 11% and while recent expansion has been slower in core markets, such as the Gulf and south-east Asia, future trends are significantly rosier.