PEAC and NOBLELIFT unite in strategic financing partnership

Multi-national asset finance platform, PEAC Solutions, has announced a program agreement with NOBLELIFT North America, a global manufacturer specialising in lithium-iron electric forklifts and material handling equipment. Revolutionising the material handling landscape, the partnership will combine PEAC’s comprehensive financing prowess with NOBLELIFT’s cutting-edge product offerings.

PEAC and NOBLELIFT unite in strategic financing partnership

Apr 25, 2024

Multi-national asset finance platform, PEAC Solutions, has announced a program agreement with NOBLELIFT North America, a global manufacturer specialising in lithium-iron electric forklifts and material handling equipment. Revolutionising the material handling landscape, the partnership will combine PEAC’s comprehensive financing prowess with NOBLELIFT’s cutting-edge product offerings.

Cambridge & Counties Bank awarded green iiE accreditation for ninth year in a row

Cambridge & Counties Bank, has been awarded Investors in the Environment (iiE) accreditation for a record ninth year in a row. The bank achieved the Green level accreditation with a score of 76% in the official auditing process, which is based on eight separate sub-categories including leadership and governance, carbon management, waste management, and environmental and social projects. In the latter sub-category, the bank scored 100%.

Cambridge & Counties Bank awarded green iiE accreditation for ninth year in a row

Apr 25, 2024

Cambridge & Counties Bank, has been awarded Investors in the Environment (iiE) accreditation for a record ninth year in a row. The bank achieved the Green level accreditation with a score of 76% in the official auditing process, which is based on eight separate sub-categories including leadership and governance, carbon management, waste management, and environmental and social projects. In the latter sub-category, the bank scored 100%.

UTB launches block discounting service

United Trust Bank (UTB) has announced the launch of its Block Discounting service which aims to provide funding to non-bank lenders unable to fund their operations through retail consumer deposits. The new venture, headed up by UTB’s Julian Mellors, soft launched in October 2023 and has several live facilities with small and medium-sized independent asset finance companies and is in various stages of negotiations with more potential partners.

UTB launches block discounting service

Apr 25, 2024

United Trust Bank (UTB) has announced the launch of its Block Discounting service which aims to provide funding to non-bank lenders unable to fund their operations through retail consumer deposits. The new venture, headed up by UTB’s Julian Mellors, soft launched in October 2023 and has several live facilities with small and medium-sized independent asset finance companies and is in various stages of negotiations with more potential partners.

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Allica Bank completes £500m of asset finance lending

With Allica Bank reaching an impressive £500 million asset finance lending milestone this week, Asset Finance Connect spoke to Allica’s head of asset finance sales, Brandon Hall, to find out the secret to their success. Allica Bank – the business bank dedicated to serving established businesses – has revealed it has lent over £500 million in asset finance. Having launched its asset finance arm in January 2021, Allica says that over the past 12 months it has lent almost double the amount it lent in the previous two years combined.

Allica Bank completes £500m of asset finance lending

Apr 24, 2024

With Allica Bank reaching an impressive £500 million asset finance lending milestone this week, Asset Finance Connect spoke to Allica’s head of asset finance sales, Brandon Hall, to find out the secret to their success. Allica Bank – the business bank dedicated to serving established businesses – has revealed it has lent over £500 million in asset finance. Having launched its asset finance arm in January 2021, Allica says that over the past 12 months it has lent almost double the amount it lent in the previous two years combined.

British Business Investments announces a £15m facility to Catfoss Finance Limited

British Business Investments has announced a £15m facility to Catfoss Finance Limited (“Catfoss”). The transaction will be structured as a block discounting agreement that will allow Catfoss to provide funding support to smaller businesses looking to acquire business-critical assets to accelerate their growth.

British Business Investments announces a £15m facility to Catfoss Finance Limited

Apr 24, 2024

British Business Investments has announced a £15m facility to Catfoss Finance Limited (“Catfoss”). The transaction will be structured as a block discounting agreement that will allow Catfoss to provide funding support to smaller businesses looking to acquire business-critical assets to accelerate their growth.

UK small business growth forecasts hit three-year low

Only three in 10 small business owners (30%) predict any form of growth in the next three months – the lowest it has been since the Covid lockdown of January 2021 (26%). After small business confidence enjoyed a slight peak after Covid restrictions finally fell away by Q2 2022 (37%), the percentage of business owners predicting growth has doggedly remained flat at 32-33% for the last eight quarters – which makes a fall this quarter appear to be significant.

UK small business growth forecasts hit three-year low

Apr 22, 2024

Only three in 10 small business owners (30%) predict any form of growth in the next three months – the lowest it has been since the Covid lockdown of January 2021 (26%). After small business confidence enjoyed a slight peak after Covid restrictions finally fell away by Q2 2022 (37%), the percentage of business owners predicting growth has doggedly remained flat at 32-33% for the last eight quarters – which makes a fall this quarter appear to be significant.

Allica Bank achieves first full year profit – just three years since opening doors to lending

Recently named as the fastest-growing UK fintech ever by Deloitte in their UK Technology Fast 50 2023 ranking, Allica Bank today released its Annual Report for the year ending 31st December 2023, underlining a period of continued growth, strong financial metrics and watershed achievements. Reporting pre-tax profit of £16.1 million marks the first full year of profit at Allica, being one of the fastest UK fintechs to achieve full year profitability.

Allica Bank achieves first full year profit – just three years since opening doors to lending

Apr 22, 2024

Recently named as the fastest-growing UK fintech ever by Deloitte in their UK Technology Fast 50 2023 ranking, Allica Bank today released its Annual Report for the year ending 31st December 2023, underlining a period of continued growth, strong financial metrics and watershed achievements. Reporting pre-tax profit of £16.1 million marks the first full year of profit at Allica, being one of the fastest UK fintechs to achieve full year profitability.

Funding failures hit SME sector

A third of SMEs are at risk of permanent closure if they are unable to secure necessary funding according to a recent survey conducted by invoice finance company Novuna Business Cash Flow, underlining the crisis facing lending to the UK’s smaller companies, a topic which will be explored in one of the keynote sessions at Asset Finance Connect’s (AFC) upcoming summer conference in June.

Funding failures hit SME sector

Apr 19, 2024

A third of SMEs are at risk of permanent closure if they are unable to secure necessary funding according to a recent survey conducted by invoice finance company Novuna Business Cash Flow, underlining the crisis facing lending to the UK’s smaller companies, a topic which will be explored in one of the keynote sessions at Asset Finance Connect’s (AFC) upcoming summer conference in June.

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.

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.