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Maxxia looking to build momentum

The Maxxia Group is looking to continue its dynamic UK expansion, which has seen its turnover triple in the in the last three years, with the recruitment of a number of new asset finance brokers. Chief Revenue Officer Julian Humphreys explains, "We are looking for experienced asset finance people that will add further value to our business."

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Growing Your Business through Technology

Leaseteam talks you through your technology strategy. Technology is what enables your business to be innovative, to accelerate and to grow. So when you think in terms of your technology needs, you should also be thinking about how much, how fast and in what direction you want to grow your business. Technology is not just the cost of doing business—it’s the opportunity to do more. Here's how...

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AF-PA events planned

Survey responses point the way for AF-PA's future. Respondents expressed an interest in more networking events, two of which should already be in your diaries - see below.

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Check out the latest edition of BrokerWorld

Check out NOVEMBER BrokerWorld on the free BrokerWorld App. This month's edition leads with the bid for Aldeermore Bank from South African financial giant, FirstRand, profiles CAMBRIDGE & COUNTIES BANK and the growth and career opportunities at MAXXIA, and focuses on training and education, with a report on the landmark year at HAMPSHIRE TRUST BANK. 

The App also gives you free access to the year's past editions.

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New face at BrokerWorld

Robin Skuse has joined BrokerWorld as Associate Editor. He was previously at the National Association of Commercial Finance Brokers for six years, as Marketing and Press Officer, starting with the trade association when it was still in its original offices in Exeter . . 

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HHF in major new partnership

Henry Howard Finance (“HHF”) has teamed up with a major UK CCTV and security distributor to offer asset finance solutions to businesses seeking affordable access to state-of-the-art CCTV, Fire and Security systems. The exclusive deal, launched this month, makes leasing agreements available to security installers who purchase their equipment from Hertfordshire-based firm Infinite Distribution.

Infinite Distribution, which has been distributing high-tech and bespoke CCTV systems since 2013, has over doubled in size in the last twelve months. It is expected that a partnership between the innovative distributor and the award-winning Henry Howard Vendor Finance team, will drive their increasing sales volumes even further.

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1pm gets Positive Cashflow

1pm's Directors believe that Positive Cashflow, which services clients predominantly in the North and Midlands, will complement Gener8 Finance, which was acquired by the Group in May 2017 and which caters predominantly for the South. The resulting Commercial Finance Division will be comparable in size to the Group’s Asset Finance and Loans divisions.

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PCFG becomes PCF Bank

The change allows the company to expand its vehicle and asset finance operations and have a broader, more attractive offering to brokers. In addition, building up a retail deposit base will reduce the cost of funds for the bank and allow it to lend competitively and with enhanced terms, at rates which were previously unviable.

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SME finance simplified

Hitachi Capital Business Finance creates a simple-to-understand Hire Purchase offering. This new initiative follows small business research by HCBF which found that only 3pct of decision makers had used hire purchase in the past 12 months. Transforming the Hire Purchase finance agreement with straightforward terms and conditions on the front page should help build customer confidence in their choice of finance.

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CAS combines forces with Ratesetter

Corporate Asset Solutions (“CAS”) is partnering with RateSetter to administer and run RateSetter’s new hire-purchase business loan product, making RateSetter the first peer-to-peer lending platform to launch a HP offering. CAS will provide RateSetter with a robust distribution channel and market expertise in this area. Both parties have ambitious plans for the new HP product which will be competitive, transparent and clearly differentiated from other products in the broker market.

As Authorised Representatives of RateSetter, CAS will manage the end to end asset finance process on behalf of RateSetter from its offices in Southampton. RateSetter will provide funding on selected deals which it will underwrite using its in-house credit team. RateSetter will offer hire purchase agreements for purchases and refinances up to £750,000.

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Star buys Credo

STAR Asset Finance Limited (“SAFL”) continues its consolidation of the SME asset finance market by completing the acquisition of Credo Holdings Limited (“Credo”). Norwich-based Credo was established in 2005 as an independent provider of asset finance. The company has a growing own book portfolio, coupled with brokered finance supported by a number of industry funders. Specialising in hard and soft asset finance with a strong position in its regional market, Credo is a perfect fit and a welcome addition to the SAFL group.

 

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Lloyds woos brokers

Lloyds Bank has launched an enhanced service for brokers to make it easier for them to support their clients’ funding needs. The new offering allows new brokers and ones already on the Lloyds Bank and Bank of Scotland panels to benefit from the product set and expertise of all the Bank’s broker support teams in one place.

Asset finance, invoice finance, current accounts and a range of other products can all be accessed by the broker to help them quickly find the right support for their clients. Brokers will also have the continued support of dedicated business development managers together with relationship and on-boarding managers, with additional backing from specialist asset finance and invoice finance experts. 
Alongside this, Lloyds Bank is also offering a new rewards package for brokers*. This includes:

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RM Capital crosses over into Bridging

RM Capital has recently launched a direct lending offering in the bridging and real estate sector. Over the past year RM Capital has been offering institutional funding lines for bridging lenders, and while they are still offering these funding lines, they are seeking direct enquiries from brokers to fund bridging transactions themselves.

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Brokers are fighting back

Keith Sangwin, Asset Finance Sales Manager at United Trust Bank (“UTB”) comments that he was pleased to see the recent figures from the FLA suggesting that there has been significant growth in broker introduced asset finance business.

Keith says, "As a ‘broker only’ asset finance lender, we find this to be excellent news as we believe that brokers play a vital role in the market, helping SMEs to choose the right funding options, as well as the most appropriate lenders. It also signals that brokers are fighting back against the direct lenders, viewed by many in the industry as leading a race to the bottom with unsustainable pricing on unreasonable risks.

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Bibby expands in the North

A significant number of new hires in the North of England and in Scotland demonstrates Bibby Financial Services' commitment to business needs in these areas. Supporting businesses with turnover of £5 million to £100 million, BFS’s Corporate team was formed in 2012 and has structured more than 600 deals across the UK. Last year it wrote one in six of all invoice finance deals in the country, and advanced more than £3.1 billion. Adding staff in key areas such as Manchester, Leeds and Bradford will mean even greater support for local businesses and the intermediary community.

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Quantum adds colour to Black and White

Quantum joins the lending panel for long-established brokers Black and White Asset Finance, based near Teignmouth in Devon. Black and White specialises in finding funding for businesses active in all areas of the food and drink industry, with a focus on the south west of England and Wales. The broker firm is always on the lookout for competitive rates and flexible payment terms.

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Ignition drives to expand

Ignition Credit is continuing to expand with the appointment of three new senior members to its team. The company, since its acquisition by Star Asset Finance Group in 2015, has been driving to expand its workforce and extend its geographical reach.

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Shire Leasing boosts SME funding lines

New agreement with British Business Bank helps Shire take the step up from reliance on block funding.

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Praetura performs strongly in Q1

The start of 2017 has seen Praetura Asset Finance record their most successful Q1 ever, as more SMEs take advantage of the options that asset finance can make available, to support both the growth and stability of their businesses. The total amount lent rose by 35pct with strong growth across all regions of the UK. Praetura has grown from a business that started with seven staff, to one with over 25 skilled specialists.

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Lloyds invoice finance throws down gauntlet

New commission structure comes as ABFA figures point to growth in invoice finance market.

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1pm proceeds with successful fundraising

Includes acquisition of Tracx Finance Limited, including its wholly-owned subsidiary Gener8 Finance Ltd, for a total cash consideration of £5.25 million.

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Asset Finance and the Autumn Budget

George Tonks, Invigors EMEA LLP, gives us his considered reaction to Wednesday's Budget... The contents of any Budget reflect the political and economic situation.  In November 2017 the UK is moving towards leaving the EU in March 2019, with various degrees of uncertainty around the economy both up to and beyond that date.  We are also only a few months on from a general election which saw significant gains for a Labour party campaigning for reduced austerity.   

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D&D Leasing promotes Karma Nirvana

Nominated charity announced for Rev Bill Dost's annual Christmas gathering.

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2018 Leasing World Awards Dinner date announced

Next year's Leasing World Awards Ceremony and Dinner is being held in London on Tuesday 30th October 2018, WITH SOME GREAT NEW FEATURES PLANNED! 

 

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Cash offer for Aldermore

The Board of Aldermore has recommended a cash offer for the entire business of 313p per share, equivalent to a £1.08 billion purchase price. The offer comes from South Africa’s largest financial institution by market capitalisation, FirstRand Ltd, via FirstRand International Limited, which already owns Cardiff-based MotoNovo . .

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Hitachi Capital Hat-Trick at the Leasing World Awards Dinner

The Annual Leasing World Awards Dinner was, once again, a very enjoyable event, featuring 24 awards including six new broker awards to complement the existing coveted 18 categories. Our thanks go to our Head Sponsor, Hitachi Capital Business Finance, who - in a First - won a hat-trick of awards, viz. Lessor of the Year, Broker Champion, and Next Generation awards . .

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UPDATED: Leasing World Awards FINAL shortlists announced

We know that many of you have been anxious to hear the final LW Awards shortlists, so here they are at last . . .

 

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Important all day conference on Asset Finance Risk

An important and timely all day conference, with lunch and refreshments, that focuses on the Risks that face the Asset Finance industry in late 2017, [Request a last minute place], including macro big picture risks to UK business (presented by Paul Nash, Partner at PwC LLP), the Regulatory risks of GDPR, and Conduct Risk (examined by legal expert Joanne Davis, Partner Locke Lord LLP), and Credit Risk with two main credit underwriting approaches of Story Credit and Credit Score compared . .

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ALDERMORE takes 48% of AFS

Aldermore, the specialist bank, has announced the acquisition of a 48% minority equity stake in AFS Group Holdings Limited (AFS), one of the largest introducers to asset and commercial finance funders in the UK . .

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New UK CEO for BNP Paribas Leasing

BNP Paribas Leasing Solutions has has appointed a new CEO for its 450-strong UK operations, Jean-Michel Boyer, who plans to exceed existing already ambitious growth targets in the UK . .

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PCFG draws £13.5M on Aldermore Block line

Private & Commercial Finance Group (“PCFG”), the AIM-listed finance group based in the City of London and recently recipient of a banking licence, has drawn down an additional £13.5 million against a £25 million funding facility from Aldermore . .

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Stunning debut for Alfa IPO

26/05/2017 - Shares in Alfa Financial (previously CHP Consulting) leapt as high as 425p in early trading and by mid-afternoon of its launch day the company was valued at £1.25 billion, which is substantially more than challenger banks like . . 

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Read LeasingWorld magazine on your screen

Enjoy LeasingWorld Digital magazine, powered by Flickread. To try the digital magazine . .

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Intelligent acquisition for 1pm

1pm plc has announced the acquisition of Intelligent Financing Limited, trading as Intelligent Loans (“iLoans”), a brokerage engaged in the packaging of secured Bridging loans, Second Charge loans and Commercial Mortgages.

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Budget too downbeat on business?

After the immediate howls of pain die down from those wounded by the latest, and thankfully last, Spring Budget, will SMEs be left with a feeling that the Budget, the Chancellor, the Treasury, and hence the powers that be are basically downbeat on business?

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