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Too much jargon facing SMEs

English dictionary Recent research by Wyelands Bank reveals financial service providers use too much jargon for relatively simple terms, with nearly thirty different terms for just three financial products. Iain Hunter, CEO of Wyelands Bank, said, "Jargon does not differentiate through innovation, but through confusion..."

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Brokers unmoved by base rate, says UTB

Harley Kagan More than two thirds (68pct) of brokers responding to United Trust Bank’s most recent broker sentiment survey believe that the two Bank of England Base Rate increases seen since November 2017 have had no impact on their business. The survey was carried out amongst over one hundred brokers operating in the asset finance and property sectors...

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UTB says most brokers upbeat on 2018 results

Leasing World news United Trust Bank’s most recent broker sentiment survey has found that 51pct of brokers operating in the asset finance and property sectors are expecting their 2018 business results to be either ‘good’ or ‘excellent’ with them exceeding their targets set at the start of the year. Harley Kagan, Group Managing Director – United Trust Bank, commented, “2018 hasn’t been easy for many brokers..."

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HTB high fives brokers

Jon Maycock Back in June this year, HTB developed and rolled out Document Generation ("Doc Gen") software which enables automatic documentation generation, saving time and improving accuracy for brokers. To encourage the uptake of Doc Gen, HTB launched an incentive programme to reward the five introducers who paid out the highest number of deals using Doc Gen...

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SMEs bear brunt of Carillion insolvency

Marc Bajer Bank lending to SME construction businesses has fallen by almost £1.2 billion following the collapse of Carillion, dropping to £15.46 billion at end of September 2018, down from £16.63 billion on 30 September 2017. Hadrian’s Wall Capital says that total lending to SME construction businesses has fallen by 7pct over the last twelve months, a far sharper fall than in lending to large construction businesses...

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Half of all R&D tax relief goes unclaimed

 Almost 9 in 10 finance companies could be eligible for Research and Development (“R&D”) tax relief on new products and services but only 41pct of them have ever claimed. This means businesses in the finance sector are missing out on millions of pounds even though 89pct of them have developed new products or business process in the last two years...

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MAF high five

Financial services broker, Midlands Asset Finance (“MAF”), is committed to building the next generation of finance brokers, employing five new members of staff all under the age of 23. University graduates Sam Greasley, Harry Krikken, Charlie Hubble, Ryan Walker and Liam Delaney were all hired this month as the broker continues its talent development scheme...

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New Head of Broker at White Oak

White Oak UK, one of the UK’s largest alternative providers of SME finance, has announced Matt Phillips as its new Head of Broker & Strategic Partnerships. In 2015, Matt was the driving force behind “introduce”, White Oak UK’s client referral scheme, which has since generated over £87 million in origination from more than 230 approved introducers...

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New Motor Finance post at Paragon

A new National Sales Manager for Motor Finance has been appointed at Paragon. The newly-created role will see Geoff Duncalf esponsible for leading and developing a team of six Regional Sales Managers...

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Funding Circle broker channel lends £1 billion

 Funding Circle, the global small business loans platform, has told us that its broker channel has reached a milestone of £1 billion facilitated to small businesses in the UK. This follows the promotion of Tom Shave to Head of Broker... 

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Rivers doubles down on loan note programme

Rivers Leasing’s financing structure is a combination of the industry traditional and the innovative, including a £12 million loan note programme listed on the Bermuda Stock Exchange, which it is increasing to £25 million this October in order to continue its planned development...

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SMEs seek solutions for work stress

The latest Aldermore Future Attitudes study has revealed that a third (33pct) of bosses at UK small and medium-sized enterprises (SMEs), equating to 1.81 million firms with fewer than 250 employees, have personally suffered from anxiety, depression or another kind of mental health problem in the past five years...

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Investec uncovers brokers expansion plans

 Asset finance brokers are overwhelmingly positive on their prospects for growth over the next year, according to a survey conducted by Investec Asset Finance Group. When asked how they would achieve their growth targets, the majority said that they would expand into new sectors...

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BVRLA expands membership

During 2018, the BVRLA has continued to grow and there are now over 950 organisations in membership, who are collectively responsible for almost 5 million vehicles on UK roads, buy almost half of all new vehicles sold in the UK and purchase 83pct of all UK-manufactured vehicles sold to a domestic market each year.

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Ready for a recession?

"The economic definition of recession generally involves a fall in GDP in two successive quarters. Since I entered the world of commerce in 1970 I have experienced four recessions. Each has been unique..."

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Brokers wary of base rate rise

United Trust Bank’s most recent broker sentiment survey has revealed that 61pct of brokers operating in the fields of asset finance and property feel that it would take just one more 0.25pct increase in the base rate of interest to stifle SME investment...

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More senior appointments at HHF

Two further key appointments have been made at Henry Howard Finance to help support the independent funder’s continued growth. Marie Dunkley and Charlie Ryley join a firm which has supported more than 30,000 companies across the UK.

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Wyelands Bank makes Asset Finance appointment

Wyelands Bank, set up to help small and medium businesses, has appointed Jim Higginbotham as managing director, asset finance. Jim's appointment is part of the bank’s strategy to help manufacturing and industrial businesses to trade and grow through the right combination of simple but specialist finance solutions. 

 

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Bluestone means prizes

Bluestone Leasing has announced that Mark Rice at pure technology group is the winner in their recent World Cup Promotion

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HHF names North West appointments

Henry Howard Finance, having recently celebrated a year-on-year increase of 50pct in own-book lending, has appointed its first senior account managers in the North West.

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STAR own book reaches £100m

UK SME asset finance provider STAR Asset Finance Ltd (“SAFL”) has seen its net receivables hit £100 million - well ahead of target. 

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Credo prepares for kick-off

Credo Canaryball Rally Credo Asset Finance are on the lookout to recruit 20 teams to join them as they travel across Europe and visit the three stadiums that Norwich City Football Club played in during their 1993/1994 UEFA Cup Run. The ‘Canaryball Rally’' will see teams starting in Norwich, before driving to Arnhem, Munich and finally Milan, all in the aid of their chosen charity Community Sports Foundation...

 

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HTB makes new appointments

Russ Fitzgerald Hampshire Trust Bank has announced the promotion of Louise McIntosh to Operations Director and the appointment of Nigel Pearce as a Senior Underwriter within its Specialist Business Finance division. Louise has been central to driving the growth of the Specialist Business Finance division since she joined HTB earlier this year, while Nigel brings over two decades of experience to the company...

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Performance Finance acquires Integra

Leasing World News Performance Finance has announced that it has acquired Integra Asset Finance, a specialist in finance for the aesthetics market. The purchase sees Performance Finance expand its reach in the medical professions finance sector, but there are no plans to replace the Integra Asset Finance brand, and lending to the aesthetic sector will still trade under the Integra name... 

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FLA figures remain positive

FLA logo The latest figures released by the Finance & Leasing Association (“FLA”) show that asset finance new business (primarily leasing and hire purchase) in November was at a similar level to the same month in 2017.  The plant and machinery finance and business equipment finance sectors reported new business up in November by 9pct and 8pct respectively...

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HHF sponsors football centre

Paul Parry Newport’s first indoor football centre, run by former Cardiff City star Paul Parry, has secured sponsorship deal that will help to encourage more people to get involved in the sport. Langstone-based Henry Howard Finance has committed £10,000 over a two year period to the initiative in a bid to support local entrepreneurship...

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HTB launches Specialist Business Finance

Jon Maycock Hampshire Trust Bank (“HTB”) has announced the relaunch of its Asset Finance division as Specialist Business Finance. The new structure comprises broker asset finance, wholesale lending and a series of specialist business lines, the first of which is Structured Asset Finance...

 

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Amicus Asset Finance gains additional funding

Robert Keep Following the recent announcement that Amicus Asset Finance Group Limited has entered back into private ownership, it has now gained additional support commitments from its senior debt providers enabling the growth of the book to over £50 million in the next twelve months, helping reinforce the company's commitment to the asset finance market...

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The Long Read: Difference in Charges

Julian Rose In the first of a regular series, this Long Read column is written for us by Julian Rose, director of the consultancy firm Asset Finance Policy. He addresses the issues raised by the Difference-in-Charges ("DiC") broker commission model. DiC might have the appearance of incentivising brokers to charge customers more, but for business finance that’s rarely the reality of the situation, for a range of reasons...

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Asset Finance guru joins LUV FS

Mike NolanLUV Financial Solutions have taken the next step in their ambitious growth plans. In keeping with the company strategy LUV FS have appointed Mike Nolan to create an own book facility to complement the asset finance brokerage and the used car finance operation...

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D&D Leasing is now DND Finance

Bill DostD&D Leasing has changed its name to DND Finance and has made a key appointment with Tara Skewes now in position as President of the Canadian Operations. Co-founder Rev. Dr. K. Bill Dost explained that D&D Leasing had become more than just a leasing company, offering loans, professional loans, equipment leases, vehicle finance and now a credit card...

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HTB selects MatsSoft

Jon Maycock Hampshire Trust Bank has formed a strategic partnership with software provider MatsSoft to further its digital development proposition. This technology enables digital innovation, process and customer experience improvements, accelerates mobility and achieves quality and compliance for the bank.

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Amicus Asset Finance goes it alone

 Robert KeepFollowing a little under four years in the ownership of Amicus Finance Plc, Amicus Asset Finance Group Limited has entered back into private ownership. Robert Keep, Managing Director at Amicus Asset Finance Group Limited, said, “We have a great team here, excellent support from our bankers and senior debt providers and an active introducer network...We look forward to a great year in 2019!"

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New executive shines at STAR

Andrew Kenny STAR Asset Finance Limited (“SAFL”) has welcomed Andrew Kenny as a field sales executive for the Group. Based out of Sheffield, Kenny will be able to visit more remote customers for the Group, as well as help to develop the leasing market with a more personalised approach up north. He has worked extensively in the banking business for over 7 years, initially beginning his career with RBS, before moving to NatWest...

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Allica is new name for CivilisedBank

Leasing World News graphic CivilisedBank (“the Bank") has announced that it has changed its name to Allica. Due to launch in 2019, Allica aims to give customers access to a team of banking experts with extensive business finance experience, and effortless digital banking underpinned by the best of digital technology. When launched in 2019, Allica aims to be a digital SME bank which will offer business customers a service that fits what they need...

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Job Board

J2414 - Sales Manager, Technology Finance - UK, SE Eng / Mids preferred - Asset Finance - New Leaf Search
J2398 - Credit Underwriter, Small Ticket - UK, Richmond / SW London - Asset Finance - New Leaf Search
J2393 - Head of Technology Vendor - UK, SE Eng / London - Asset Finance - New Leaf Search
J2406 - Technology Buy Back Sales Manager - UK, Flexible - Asset Finance - New Leaf Search
J2285 - Regional Sales Manager, Construction - UK (Flexible Location) - Asset Finance - New Leaf Search
J2400 - Finance Controller - UK, Richmond / SW London - Asset Finance - New Leaf Search
Asset Finance Sales - Construction/Agricultural Equipment - THC Recruitment
Internal Sales/Assistant Relationship Manager (Business Finance) - THC Recruitment
New Business Administrator - Business Finance - THC Recruitment
Broker Manager/Motor and Asset Finance - THC Recruitment
Operations Manager Asset/Business Finance - THC Recruitment
Credit Administrator – Asset Finance - THC Recruitment
Assistant Relationship Manager - Asset Finance - CBC Resourcing Solutions
Credit Underwriter - Asset Finance -London - CBC Resourcing Solutions
Credit Underwriter - Asset Finance - CBC Resourcing Solutions
Field Auditor - Invoice Finance - CBC Resourcing Solutions
Assistant Relationship Manager - Asset Finance - CBC Resourcing Solutions
Sales Support - Asset Finance - CBC Resourcing Solutions
Credit Manager – SME & SME Asset Finance – Glasgow – salary up to £45,000 plus bonus plus excellent benefits, applications also considered from Credit Analysts but at a lower salary. - Robinson Toms Recruitment
Business Development Manager – Middle Ticket Asset Finance – location flexible – Salary £60,000 , on target earnings c£90,000 , quarterly paid commission with ability to earn to 100% of salary as a minimum with further accelerators by approval. - Robinson Toms Recruitment
Credit Analyst – Asset Finance - South Hampshire £55,000 - £60,000 salary + up to 20% of base salary bonus plus usual large company benefits - Robinson Toms Recruitment
Senior Credit Manager – Hampshire but part home based – salary range up to £80,000 + bonus of up to 20% of salary plus company car plus all usual benefits. - Robinson Toms Recruitment
UK and Ireland Sales Director – Hard Assets - Dealer Finance – Salary range up to £100,000 bonus potential up to 35% - Robinson Toms Recruitment
Relationship Director Corporate Asset Finance – Commercial Vehicle focused – Salary range up to £100,000 , realistic bonus of 20-25% potential to 35% , plus excellent bank benefits strong pension , company car , life and health cover . Location fle - Robinson Toms Recruitment
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