Stark net zero gap revealed among UK SMEs

With climate talks at the COP28 conference ending this week, all attention has been on how the UK is maintaining and driving forward its commitment to achieving net zero for a 2050 deadline. But following the Government’s revised green targets earlier this year, research from specialist business lending provider, Simply Asset Finance, reveals that UK SMEs are still unclear on how they’ll meet climate goals.

Stark net zero gap revealed among UK SMEs

Dec 11, 2023

With climate talks at the COP28 conference ending this week, all attention has been on how the UK is maintaining and driving forward its commitment to achieving net zero for a 2050 deadline. But following the Government’s revised green targets earlier this year, research from specialist business lending provider, Simply Asset Finance, reveals that UK SMEs are still unclear on how they’ll meet climate goals.

Cynergy Business Finance celebrates supporting over 200 UK businesses within first two years of trading

Cynergy Business Finance (CBF), the asset-based lending (ABL) arm of Cynergy Bank, marked two years of trading with a total of 211 new customers and associated funding limits reaching £346m.

Cynergy Business Finance celebrates supporting over 200 UK businesses within first two years of trading

Dec 07, 2023

Cynergy Business Finance (CBF), the asset-based lending (ABL) arm of Cynergy Bank, marked two years of trading with a total of 211 new customers and associated funding limits reaching £346m.

Paragon Bank’s SME lending division grows loan book as lending increases

Paragon Bank’s SME lending division grew its loan book by 5.0% in the 12 months to 30 September 2023 as new lending edged up. The SME lending loan book at the end of Paragon Banking Group’s full-year period, announced today, stood at £757.5 million, compared to £721.7 million at the same point last year.

Paragon Bank’s SME lending division grows loan book as lending increases

Dec 06, 2023

Paragon Bank’s SME lending division grew its loan book by 5.0% in the 12 months to 30 September 2023 as new lending edged up. The SME lending loan book at the end of Paragon Banking Group’s full-year period, announced today, stood at £757.5 million, compared to £721.7 million at the same point last year.

Bynx June Banner 2019 1

Simply Asset Finance secures £20m block discounting facility from Cynergy Business Finance

London-based asset finance provider, Simply Asset Finance, has secured a £20m block discounting facility from Cynergy Business Finance (CBF), the asset-based lending (ABL) arm of Cynergy Bank.

Simply Asset Finance secures £20m block discounting facility from Cynergy Business Finance

Dec 05, 2023

London-based asset finance provider, Simply Asset Finance, has secured a £20m block discounting facility from Cynergy Business Finance (CBF), the asset-based lending (ABL) arm of Cynergy Bank.

Propel Finance surpasses £500m lending milestone

Propel Finance is now managing more than £500 million of lending to UK SMEs, originated through ‘Propeller’, its proprietary digital platform. As the fastest-growing asset finance provider in the UK, this milestone reflects the demand from UK businesses to finance investment in vital equipment.

Propel Finance surpasses £500m lending milestone

Dec 05, 2023

Propel Finance is now managing more than £500 million of lending to UK SMEs, originated through ‘Propeller’, its proprietary digital platform. As the fastest-growing asset finance provider in the UK, this milestone reflects the demand from UK businesses to finance investment in vital equipment.

Time Finance reports shift in trends in asset finance as SME demand climbs

New figures from Time Finance have revealed changing appetites amongst SMEs for financing for the long-term as demand for hire purchase and refinancing rise throughout 2023.

Time Finance reports shift in trends in asset finance as SME demand climbs

Nov 30, 2023

New figures from Time Finance have revealed changing appetites amongst SMEs for financing for the long-term as demand for hire purchase and refinancing rise throughout 2023.

UK SMEs cite tariffs, customs and trade barriers as their greatest challenge to trading overseas

New research from SME funder, Bibby Financial Services, reveals an increasingly tough environment for small businesses trading overseas in post-Brexit Britain. A clear majority (58%) cite the collective impact of high tariffs, and customs and trade barriers as the key challenge they face. This is compounded by additional adverse factors, including: the cost of doing business overseas (49%); currency fluctuations (41%); and political instability in target markets (15%).

UK SMEs cite tariffs, customs and trade barriers as their greatest challenge to trading overseas

Nov 28, 2023

New research from SME funder, Bibby Financial Services, reveals an increasingly tough environment for small businesses trading overseas in post-Brexit Britain. A clear majority (58%) cite the collective impact of high tariffs, and customs and trade barriers as the key challenge they face. This is compounded by additional adverse factors, including: the cost of doing business overseas (49%); currency fluctuations (41%); and political instability in target markets (15%).

Shawbrook celebrates milestone as mid-market funding surpasses £1bn

Shawbrook has marked a significant achievement, with its corporate lending business now providing over £1 billion in specialist funding for mid-market SMEs in the UK. This milestone underscores the bank’s commitment to unlocking growth for small and medium-sized enterprises by providing them access to the type of tailored funding options that are traditionally only available to larger corporations.

Shawbrook celebrates milestone as mid-market funding surpasses £1bn

Nov 28, 2023

Shawbrook has marked a significant achievement, with its corporate lending business now providing over £1 billion in specialist funding for mid-market SMEs in the UK. This milestone underscores the bank’s commitment to unlocking growth for small and medium-sized enterprises by providing them access to the type of tailored funding options that are traditionally only available to larger corporations.

White Oak lends £40m to support the growth of Scottish SMEs

Non-bank lender, White Oak, has provided £40 million to Scottish SMEs so far this year as it continues to champion the growth of small businesses across the country. White Oak has partnered with small businesses across Scotland to provide them with tailored solutions for their unique financing needs. More than 15% of White Oak’s lending activity was concentrated in Scotland last year, and the firm is looking to exceed this target by the end of this year.

White Oak lends £40m to support the growth of Scottish SMEs

Nov 21, 2023

Non-bank lender, White Oak, has provided £40 million to Scottish SMEs so far this year as it continues to champion the growth of small businesses across the country. White Oak has partnered with small businesses across Scotland to provide them with tailored solutions for their unique financing needs. More than 15% of White Oak’s lending activity was concentrated in Scotland last year, and the firm is looking to exceed this target by the end of this year.

SMEs growth opportunities at risk without government attention

With interest rates likely to remain high for the foreseeable future, SMEs are reassessing their outlook and trying to set a clear course for the future. But according to research from Simply Asset Finance, the specialist business lending provider, significant gaps remain around the support on offer.

SMEs growth opportunities at risk without government attention

Nov 20, 2023

With interest rates likely to remain high for the foreseeable future, SMEs are reassessing their outlook and trying to set a clear course for the future. But according to research from Simply Asset Finance, the specialist business lending provider, significant gaps remain around the support on offer.

Time Finance facilitates management-buy-in with £900k ABL facility

Time Finance has successfully completed a £900,000 asset based lending (ABL) facility which has been used to facilitate the management-buy-in (MBI) of established wastewater services provider Active Pump Services Limited. The multi-product facility was secured by commercial property, receivables and moveable assets, and underscores Time Finance’s experience in creating tailored financial solutions that support business growth plans and acquisitions.

Time Finance facilitates management-buy-in with £900k ABL facility

Nov 16, 2023

Time Finance has successfully completed a £900,000 asset based lending (ABL) facility which has been used to facilitate the management-buy-in (MBI) of established wastewater services provider Active Pump Services Limited. The multi-product facility was secured by commercial property, receivables and moveable assets, and underscores Time Finance’s experience in creating tailored financial solutions that support business growth plans and acquisitions.

Approved Business Finance partners with concrete specialists Utranazz

Milton Keynes-based asset finance brokerage, Approved Business Finance, has announced an exclusive finance partnership with concrete equipment specialists, Utranazz. Approved Business Finance is now the trusted finance partner of Utranazz, providing a streamlined process that allows the concrete equipment specialists to finance equipment and vehicles for its customers within minutes, primarily focused on the plant sector.

Approved Business Finance partners with concrete specialists Utranazz

Nov 16, 2023

Milton Keynes-based asset finance brokerage, Approved Business Finance, has announced an exclusive finance partnership with concrete equipment specialists, Utranazz. Approved Business Finance is now the trusted finance partner of Utranazz, providing a streamlined process that allows the concrete equipment specialists to finance equipment and vehicles for its customers within minutes, primarily focused on the plant sector.

Praetura Asset Finance marks 10th anniversary with record support for UK SMEs

  Praetura Asset Finance (PAF) has broken its annual deal number total in 2023, as it celebrates 10 years funding UK SMEs. PAF has increased the number of SMEs it has provided funding to by more than a third so far this year, with a 26% rise in the total amount of capital provided. The latest figures means that PAF has surpassed record figures for three consecutive years.

Praetura Asset Finance marks 10th anniversary with record support for UK SMEs

Nov 16, 2023

  Praetura Asset Finance (PAF) has broken its annual deal number total in 2023, as it celebrates 10 years funding UK SMEs. PAF has increased the number of SMEs it has provided funding to by more than a third so far this year, with a 26% rise in the total amount of capital provided. The latest figures means that PAF has surpassed record figures for three consecutive years.

Autumn Statement 2023: Businesses need conditions for growth

Amidst rumours that the Government’s upcoming Autumn Statement will feature moderate measures to help SMEs, Ed Rimmer, CEO of alternative finance provider, Time Finance, stresses the importance of keeping business confidence alive in the face of rumbling uncertainty.

Autumn Statement 2023: Businesses need conditions for growth

Nov 09, 2023

Amidst rumours that the Government’s upcoming Autumn Statement will feature moderate measures to help SMEs, Ed Rimmer, CEO of alternative finance provider, Time Finance, stresses the importance of keeping business confidence alive in the face of rumbling uncertainty.

Shawbrook hits £50m milestone in asset finance transactions using enhanced digital decisioning service

Shawbrook has announced a significant milestone, having now funded over £50 million in asset finance transactions through its digital decisioning service for flow business. Introduced in 2022, the broker portal allowed brokers to upload deals and perform initial checks. New technology releases means that brokers can also now obtain an agreement in principle (AIP) for deals under £250k in less than 24 hours.

Shawbrook hits £50m milestone in asset finance transactions using enhanced digital decisioning service

Nov 08, 2023

Shawbrook has announced a significant milestone, having now funded over £50 million in asset finance transactions through its digital decisioning service for flow business. Introduced in 2022, the broker portal allowed brokers to upload deals and perform initial checks. New technology releases means that brokers can also now obtain an agreement in principle (AIP) for deals under £250k in less than 24 hours.

Cost-of-living crisis exacerbating cash flow issues for many SMEs

Millbrook Business Finance, a broker in the business finance market, has today revealed details of its latest survey of SME business owners. It found that for nearly half (48%) of respondents, cash flow is the largest single challenge that their businesses are facing. This is followed by the cost-of-living crisis (32%) and energy prices (30%).

Cost-of-living crisis exacerbating cash flow issues for many SMEs

Nov 03, 2023

Millbrook Business Finance, a broker in the business finance market, has today revealed details of its latest survey of SME business owners. It found that for nearly half (48%) of respondents, cash flow is the largest single challenge that their businesses are facing. This is followed by the cost-of-living crisis (32%) and energy prices (30%).

New technology solution supports saving over a million electronic devices from becoming landfill

Lombard, the asset finance arm of NatWest Group, Rigby Capital, and SCC, have today announced a new collaboration supporting an as-a-service solution that aims to stop over a million electronic devices such as company mobile phones and laptops from becoming landfill over the next five years.

New technology solution supports saving over a million electronic devices from becoming landfill

Nov 02, 2023

Lombard, the asset finance arm of NatWest Group, Rigby Capital, and SCC, have today announced a new collaboration supporting an as-a-service solution that aims to stop over a million electronic devices such as company mobile phones and laptops from becoming landfill over the next five years.

Lack of funding has prompted one in ten SMEs to fold

One in ten SMEs that have struggled to access funding eventually folded according to research from Shawbrook, highlighting the need for specialist finance in the SME sector. Indeed, Shawbrook’s research amongst senior decision makers at small and medium-sized businesses found that three quarters (72%) had experienced difficulties accessing funding.

Lack of funding has prompted one in ten SMEs to fold

Nov 02, 2023

One in ten SMEs that have struggled to access funding eventually folded according to research from Shawbrook, highlighting the need for specialist finance in the SME sector. Indeed, Shawbrook’s research amongst senior decision makers at small and medium-sized businesses found that three quarters (72%) had experienced difficulties accessing funding.