Europe

Time Finance achieves new lending milestone

Sep 21, 2023: Time Finance, the alternative finance provider to more than 11,000 UK SMEs, has reached another milestone in its ambitious growth strategy, reporting an own book lending reaching a new high of £175m, an 18% increase over the last 12 months. ...

SocGen open to sale of Equipment Finance unit in strategy review, sources say

Sep 18, 2023: Societe Generale is open to a sale of its Equipment Finance business as the French bank's new CEO Slawomir Krupa embarks on a broad strategic revamp, people familiar with the company told Reuters. ...

Aldermore delivers solid FY23 results amidst challenging economic conditions

Sep 14, 2023: Aldermore Group has posted a 9% growth in profit before tax to £222.5m, compared with £204.7m in FY2022. The Group delivered both solid lending and customer deposit growth, supported by improved margins, whilst continuing to invest in the business....

Millbrook reports record 12-month growth figures on its 3rd anniversary

Sep 13, 2023: Millbrook Business Finance, a UK broker in the business finance market, is celebrating its third anniversary with record 12-month growth figures. During this period, revenue has increased by 120%, coupled with a 45% rise in the value of finance arr...

Close Brothers Leasing provides funding to Lynher Energy

Sep 12, 2023: Close Brothers Leasing’s Energy team has provided a £52.7m facility to Lynher Energy to help finance the development and construction of multiple renewable energy assets, including the 26.1MW Twitch Hill Solar Farm. ...

Cautious optimism continues to return for UK SMEs, according to new research

Sep 06, 2023: Close Brothers Asset Finance’s Business Sentiment Index (BSI), which measures SME business confidence, has risen modestly for the second consecutive research period, reversing 2022’s downward trend. ...

4 in 10 manufacturing SMEs think global conditions are worse than during the pandemic

Sep 06, 2023: The latest research from Bibby Financial Services (BFS) reveals that small and medium sized (SME) manufacturing businesses across the globe are being significantly impacted by current economic conditions. ...

InterBay Asset Finance celebrates five years of success

Aug 31, 2023: InterBay Asset Finance, the asset finance division of OSB Group, has been celebrating its fifth year in operation this week. The provider of hire purchase, finance leasing, and refinance solutions has been helping customers across the UK for half a...

BBI commits £30m to Panoramic SME III Fund

Aug 31, 2023: British Business Investments has committed £30m to the Panoramic SME III fund as part of a final close of £100m. This commitment will allow Panoramic to fund growth opportunities and management transitions for smaller businesses across the UK. ...

Small business survey reveals optimism for SME sector

Aug 31, 2023: The Department for Business and Trade has released its latest Small Business Survey for the period of November 2022- April 2023, surveying over 7,000 SMEs in the UK, reviewing their overall performance and external factors impacting it. ...

Government will miss inflation target this year, brokers predict

Aug 30, 2023: The vast majority of SME finance experts expect the Government to miss its target of halving inflation by the end of the year, iwoca’s latest Q2 2023 SME Expert Index finds. The new research, carried out with over 100 SME finance brokers who colle...

UK SMEs ramping up innovation

Aug 26, 2023: Against a backdrop of rising interest rates, UK small and medium-sized businesses (SMEs) are embracing innovation to mitigate rising costs and maintain their competitive edge, according to the latest Barclays Business Barometer. ...

British Business Investments announces £20m Tier 2 facility with Cambridge & Counties Bank

Aug 25, 2023: British Business Investments have announced a new £20m Tier 2 capital facility for Cambridge & Counties Bank Limited. Funds raised from the facility will enable Cambridge & Counties Bank to increase its volume of competitive lending to sma...

Simply Asset Finance recognises strong growth in landmark year for business

Aug 22, 2023: In a standout year so far for Simply Asset Finance, the specialist business lending provider has seen impressive profits of over £3.2 million, lent over £152 million to UK businesses and secured 1,786 new agreements. This has resulted in the busine...

80% of UK SMEs are committed to sustainability, according to Rimm Sustainability report

Aug 21, 2023: A new report from Rimm Sustainability reveals an impressive level of commitment to sustainability practices amongst UK SMEs. The report, “Leading the Charge on Sustainability: Moving from Awareness to Action” canvasses the views of 500 C-suite exe...

Cynergy Bank secures £20m tier 2 capital facility from British Business Investments

Aug 21, 2023: Cynergy Bank has announced that it has secured a £20 million Tier 2 capital facility from British Business Investments. The capital will be deployed across Cynergy Bank and Cynergy Business Finance. ...

British Business Bank agrees increase of £75m to ENABLE Guarantee with DF Capital

Aug 21, 2023: The British Business Bank has agreed a portfolio increase of £75m to specialist commercial lender DF Capital’s existing ENABLE Guarantee. This transaction builds on the £175m ENABLE Guarantee announced in January 2023, taking the total facility si...

Small business growth planning hits three-year high

Aug 17, 2023: The proportion of UK small businesses working on specific initiatives to secure business growth has reached its highest level for three years – with 71% of enterprises working on specific strategies to improve their future prospects – according to ...

DLL reports interim results for first half 2023

Aug 16, 2023: Global provider of asset-based financial solutions, DLL, reported interim results for the first half of 2023. Despite current economic and geopolitical challenges, the company delivered portfolio and income growth during the first six months of the...

Shawbrook continue supporting One Stop Business Finance to provide flexible funding to small businesses

Aug 15, 2023: One Stop Business Finance, a lender which offers solution-led and responsible funding options to SMEs, has continued its partnership with Shawbrook. The increased facility provided by Shawbrook will allow One Stop Business Finance to keep deliveri...

2023 is the worst trading environment in 15 years according to international SMEs

Aug 15, 2023: New research from global SME funder, Bibby Financial Services, reveals that 2023 is the worst economic environment for small and medium sized enterprises (SMEs) in 15 years. Findings from the 2023 Global Business Monitor, which surveyed SME owners...

Power of partnerships to enable a sustainable transition

Aug 10, 2023: Analysis from John Rees, Equipment Finance Community Leader, Asset Finance Connect We have just published the summary and analysis of the Asset Finance Connect conference session discussing the power of partnerships to enable a sustainable transit...

Boosting sustainable investment in SMEs and mid-caps in Spain

Aug 08, 2023: SGEF Iberia has signed a credit line with the European Investment Bank (EIB), to boost sustainable investment in SMEs and mid-caps in Spain. Part of the €50 million funds will be used by SGEF Iberia to finance climate action and environmental sust...

UK business confidence slides and hiring falls, says BDO survey

Aug 07, 2023: Hiring intentions and business confidence saw declines across both the services and manufacturing sectors in July with economic growth set to slow, according to the latest Business Trends report from accountancy and business advisory firm, BDO. ...

Haydock announces £350m asset backed securitisation

Aug 02, 2023: Asset finance provider, Haydock Finance, has announced the closing of its first public asset backed securitisation facility. Following a record first half-year performance, this public facility will provide £350m of extra capacity and support thei...

Insolvencies are down, but Time Finance urges businesses to stay alert

Aug 01, 2023: Following new data from the ONS detailing the loss and birth of UK businesses, Time Finance Chief Executive, Ed Rimmer welcomes news that the economy is heading in the right direction but cautions that careful financial planning is needed to keep p...

Simply Asset Finance announces H1 2023 pre-tax profit of £3.2m

Aug 01, 2023: Simply Asset Finance has announced H1 2023 profits of £3.2 million. In a strong first half of the year, the business also increased its revenues to £24.8 million and expanded its national reach with the opening of a new office in Liverpool. ...

The Broker Hub: Transforming the future of the brokerage industry

Jul 31, 2023: The Broker Hub have today announced their highly anticipated official launch. Developed by a team of industry experts, The Broker Hub empowers brokers with cutting-edge tools and resources to excel in today's dynamic market. The business is looking...

New property division for Approved Finance Group

Jul 27, 2023: Milton Keynes-based asset finance brokerage Approved Finance Group has announced the launch of Approved Property Finance, its new division designed to support SMEs with their expansion plans and business growth opportunities. Its new specialist pr...

Tougher economic conditions hamper UK business confidence

Jul 27, 2023: UK business confidence remains positive, but below pre-pandemic levels, finds ICAEW survey, as record high inflation and salary growth affect sentiment. Property companies are the least optimistic amid ongoing economic uncertainty, with record sur...

Propel Finance celebrates second year as UK’s fastest-growing asset finance company

Jul 19, 2023: Propel has been ranked as the fastest-growing asset finance company in the UK for the second year running. This coveted title was awarded by Asset Finance UK 50, the in-depth report that provides valuable industry insights based on audited & pu...

£1.9bn lost in income to UK SMEs as a result of supply chain delays

Jul 19, 2023: Some 3.3 million (60%) small and medium-sized enterprises (SMEs) have experienced supply chain delays in the last year, losing an average of £625,000 in income each as a result, according to new research from Aldermore’s SME Growth Index. ...

Shawbrook supports global expansion of Pal International

Jul 18, 2023: Following its acquisition of Pal International in 2022, the Enact Fund has secured a refinance package from specialist financial services company Shawbrook to support the business. ...

Leasing is European SMEs top finance choice

Jul 13, 2023: New industry research, released today, has revealed SMEs in Europe are more likely to fund new assets and equipment through leasing than any other finance stream. The ‘Opportunity in Change’ research report from Acquis asked 1,250 SME decision mak...

Time Finance achieves 273% increase in profits

Jul 10, 2023: Following a year of ambitious growth for the alternative SME lender, aim-listed Time Finance has revealed all-time high annual trading results for the year end 31st May 2023, with its gross lending book reaching a record £169m and profits up 273%. ...

Seasonal businesses drive summer bounce in small business growth forecasts

Jul 10, 2023: This summer sees a two-year high for the proportion of seasonal businesses predicting growth for the quarter ahead. New tracking data from Novuna Business Finance reveals that 40% of small businesses that have a seasonal business model predict...

Mansion House Reforms expected to drive UK growth and investment

Jul 10, 2023: The Chancellor of the Exchequer will launch his 'Mansion House Reforms' this evening and is expected to announce an ambitious package of measures designed to unlock billions from pension funds to invest in start-ups and other fast-growing companies...

Inflation pressure easing according to British Chambers of Commerce survey

Jul 07, 2023: The BCC’s Quarterly Economic Survey for Q2 2023 shows that less than half of firms now plan to raise prices in the next three months as cost pressures ease. But the data also reveals that the main factor for increasing costs is now coming from wag...

Haydock announces record half-year performance

Jul 07, 2023: Haydock Finance has announced a record first half-year performance following a 16%, year over year, increase in lending volume. This result reflects the impact of Haydock’s strategic focus on organic growth and industry leadership. ...

Mandatory bank referral system failing SMEs

Jul 06, 2023: The Finance & Leasing Association (FLA) is recommending a review of the Mandatory Bank Referral (MBR) system because it is failing to help SMEs find alternative funding if they are turned down by their bank. The MBR was introduced in 2016 and ...

GRENKE increases new leasing business CM2 margin in Q2 2023

Jul 05, 2023: GRENKE AG, a global financing partner for small and medium-sized enterprises (SMEs), has continued its growth trajectory in the second quarter of the current year. €650.3 million of new leasing business was generated in the quarter which was 10.7%...

SAF Solutions funds over £86m of modular construction projects in past two years

Jul 05, 2023: SAF Solutions (SAF), UK provider of bespoke finance and commercial agreements, has reported a record two years in the modular construction sector, funding over £86m of modular projects across the public and private sectors. ...

SMEs extend machinery asset life as supply chain issues hit

Jul 04, 2023: SMEs have been forced to extend the life of their existing assets as global supply chain issues reduce the availability of new assets, Paragon Bank research has found. Paragon’s survey of over 500 businesses, conducted on behalf of the bank by Opi...

Business confidence rebounds to 13-month high

Jun 30, 2023: Business confidence bounced back in the first half of June, increasing by nine points to 37%, the biggest monthly rise since March 2023, according to the latest Lloyds Bank Business Barometer. The increase was driven largely by rises in firms view...

PEAC Solutions partners with manufacturer Atlas Copco

Jun 29, 2023: PEAC Solutions and Atlas Copco Tools & Assembly Systems LLC, a manufacturer of industrial tools and equipment, have announced their recent program agreement. The partnership will allow PEAC to provide financing and leasing solutions for Atlas ...

Just 40% of UK SMEs have started on their transition to being a sustainable business

Jun 29, 2023: New research from Aldermore’s Green SME Index has revealed that two million (40%) UK small and medium-sized businesses (SMEs) have started on the road to making their business fit for net zero. Over a quarter of SMEs have ‘green intentions’ and ar...

Half of small businesses relying on securing finance to achieve growth plans

Jun 28, 2023: Access to finance is becoming a critical issue for UK small businesses, with new research from Novuna Business Finance finding that more than half (53%) would have to put plans on hold if they were unable to secure finance. ...

Develop North PLC secures £6.5m debt facility for investment into North East England and Scotland

Jun 27, 2023: Develop North PLC, a North East based investment fund providing loans to property developers in the North of England and Scotland, has renewed a £6.5m debt facility from Shawbrook for a further two years. ...

Bibby Financial Services acquires Aldermore’s Working Capital Finance division

Jun 27, 2023: Independent invoice finance provider, Bibby Financial Services (“BFS”), has acquired Aldermore’s Working Capital Finance division as it continues to grow its support for UK SMEs. The move will see Working Capital Finance clients and colleagues int...

NatWest and WWF announce strategic partnership for UK food and agriculture

Jun 26, 2023: NatWest and WWF, the world’s leading independent conservation organisation, have announced a new strategic partnership to support a sustainable transition for the UK food and agricultural sectors. Together, NatWest and WWF will work to bring toget...

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