SBZ Corporation, a global manufacturer and distributor of additives and chemicals for the oil industry, has received a £9.35m funding line from Bibby Financial Services (BFS) to grow its operations. The new funding provides a mixture of invoice finance (£7m), trade finance (£1.5m) and FX facilities (£150k). In addition to funding the UK business, BFS […]
MarketInvoice has registered a record month of invoice finance funding since launching in 2011. June was the company’s busiest month funding invoices worth £64.2m, with the total number of invoices funded up 57.2% from £103m in Q2 2016 to £161.9m in Q2 2017. MarketInvoice Pro, the confidential invoice facility, is being held responsible in large […]
The specialist lending market in the UK has been bolstered with over £3bn of mergers and acquisitions activity in the first five months of 2017, according to research from debt advisory firm Livingstone. Some 19 transactions were took place across asset, property and personal finance during the first five months of 2017. The international mid-market […]
Nearly a third of SMEs (31%) want a new government that would reverse the Brexit decision, according to new research from Hitachi Capital Business Finance. The survey asked over 1,000 owners and directors of small and medium sized enterprises nationwide which policies a new government could enact to help their businesses grow. In Wales, which […]
Redwood Bank has made two senior appointments to its board. David Buckley has been appointed chairman and is a non-executive director, whilst Nigel Boothroyd will join as a non-executive director. Both Buckley and Boothroyd have extensive experience in the finance sector; with David having previous experience at Morgan Stanley and Goldman Sachs. Nigel spent 38 […]
Only 38% of SME firms understand how invoice finance works according to Close Brothers’ latest business barometer. The research also revealed that more than half (57%) of these firms are not aware of any alternatives to funding outside of traditional banking, Despite the lack of understanding towards alternative finance, 49% of SME leaders now believe […]
Octopus Property has completed £6.4m of loans with new distributor Black Book Finance within a single working week. The range of loans were secured against four assets and included an acquisition bridge loan to support a purchase in Woolwich and a refinancing in Wimbledon. D’mitri Zaprzala, head of sales at Octopus Property, said: “Having written […]
Aldermore has extended over £200m in block discounting facilities to its clients. The bank launched its block discount offering in 2011 and provides facilities ranging from £1m upwards. Hywel Prewett, business development manager of wholesale and structured asset finance at Aldermore, said: “Our block discounting business has achieved strong growth in recent years. “We’re keen […]
MarketInvoice achieved its best quarter and month of invoice finance funding since it started in 2011. The value of invoices funded was up 160% from £81.1m in Q1 2016 to £129.6m in the first quarter of 2017. What is more there were £54.7m of invoices funded from UK businesses in March. Anil Stocker, chief executive […]
Aldermore has appointed Jon Flagg as risk director for asset finance and Clive Gould as risk director for invoice finance. Flagg has over two decades of asset finance risk experience, holding senior positions at National Australia Bank and HSBC, and joins the bank from GE Capital. Gould has a similar wealth of experience, and brings […]