Latest news with #LeasingLife
Yahoo
5 hours ago
- Business
- Yahoo
British Business Bank hits £5bn in structured guarantee programmes
The British Business Bank has reached £5bn in lending through its ENABLE structured guarantee programmes. These programmes, including ENABLE Guarantees and ENABLE Build, have delivered more than £3bn to businesses outside London and the South East, supporting smaller and medium-sized enterprises (SMEs) across the UK, the bank said. A total of £500m has been allocated to each of the North West, East Midlands and East of England regions. The ENABLE Guarantees programme is designed to encourage additional lending to SMEs by providing a government-backed guarantee to participating institutions, which support defined portfolios of debt finance in return for a fee. The structured guarantee programmes provided more than £2.3bn of support to the construction and housing sectors, including approximately £1.2bn under ENABLE Build. Other sectors such as hospitality and agriculture have also benefitted, receiving more than £270m and £260m, respectively. Since the first transaction in 2017, these programmes have enabled both bank and non-bank financial institutions to increase lending to SMEs. The ENABLE Guarantees programme is open to all UK banks, UK branches of foreign banks, asset and asset-based finance providers, and certain other lenders that lend to viable SMEs in the UK. The ENABLE Build programme operates similarly to ENABLE Guarantees but focuses on encouraging additional lending to smaller and medium-sized housebuilders in the UK. British Business Bank Structured Financial Institutions managing director Michael Strevens said: 'It is incredibly rewarding to reflect on the volume of lending to smaller and medium-sized businesses and the number of homes built that we have helped enable over the years. 'Our focus has always been on evolving our support to strengthen UK businesses, and it is encouraging to see those efforts bearing fruit. Looking ahead, we are focused on being more proactive – working closely with lenders to understand their challenges and tailor solutions that fit. That is how we will unlock the next £5bn – and do so with greater pace and purpose.' "British Business Bank hits £5bn in structured guarantee programmes" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Allica selects Lendscape as core platform for asset finance business
UK-based challenger bank Allica has selected Lendscape's commercial lending technology platform to support its asset finance operations. The decision follows a successful trial in a sandbox environment and forms part of Allica's strategy to scale its offering for established small and medium-sized enterprises (SMEs) and fintech clients. According to Allica's deputy CEO Niv Subramanian, the bank's investment in digital infrastructure is aimed at delivering business banking that is 'flexible' and 'fits seamlessly' into its wider ecosystem. 'Our growth shows just how strong the demand is for a better kind of business banking,' he said. The Lendscape platform, described as 'API-first', will enable Allica to integrate with other systems, respond rapidly to market changes and deliver product innovation at speed. Conrad Ford, Allica's Chief Product and Strategy Officer, said the lender was impressed by Lendscape's transparency during early discussions and the platform's ability to meet Allica's growth and integration requirements. 'We've seen the strength of their technological foundations and the alignment in our ambitions,' he said. Lendscape's chief product officer, Steve Taplin, said the firm had made a long-term investment in asset finance technology and highlighted the benefits of early sandbox access during the trial period. 'We share Allica's commitment to improving SME finance,' he said. Sunny Bhachu, regional commercial director at Lendscape, described the partnership as a 'perfect fit', adding that Lendscape was well-positioned to support Allica's growth strategy. "Allica selects Lendscape as core platform for asset finance business" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
21-05-2025
- Automotive
- Yahoo
Leasing Foundation launches talent development programme for 2025
The Leasing Foundation has announced the launch of its Industry Insights 2025 programme, a cross-industry initiative designed to help retain and develop emerging talent in the business and asset finance sector. Running from the fourth quarter of 2025 for 12 months, the programme is aimed at high-potential professionals working in asset finance. It offers access to other organisations in the sector to help participants broaden their understanding of the industry, build cross-company networks and support career progression. The programme will consist of 12 in-person workshops hosted by various leading businesses. Each session, lasting around three hours, will provide participants with behind-the-scenes access to different organisations, insights into the career paths of senior leaders, and exposure to teams working on innovation in the sector. Alex McWilliams, co-lead of the Leasing Foundation's NextGen programme, said feedback from the previous cohort had been 'outstanding' and described the sessions as 'a unique development opportunity'. 'Industry Insights gives people the chance to learn about other organisations while working for their own,' she said, adding that the programme had already helped previous participants develop their careers by expanding their networks and gaining broader perspectives. Former delegates have reported positive experiences. One described it as 'a fantastic experience' that provided valuable insights into the wider business market, while another said it had 'massively' supported their development and helped them progress in the industry. The cost of the programme is £750 for one person or £1,300 for two people from the same organisation. "Leasing Foundation launches talent development programme for 2025" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Time Finance survey reveals 70% of SMEs miss out on broker support for growth
A recent survey by Time Finance has revealed that more than 70% of small and medium enterprises (SMEs) could benefit from broker support in accessing finance for growth. Conducted in partnership with Censuswide, the survey found that 28% of SMEs had utilised a broker to secure business finance. The Finance Apathy Survey, which included 500 SME owners and decision-makers, revealed that 52% were aware of brokers but had never engaged their services, while 20% were unaware that brokers could assist in accessing finance. Time Finance's survey also explored SME attitudes towards lending and awareness of different financial products. The UK-based lender said that despite a healthy appetite for business finance, many SMEs lacked knowledge of key financial products. Specifically, 21% were unaware of asset finance, 24% of invoice finance, and 36% of asset-based lending (ABL). Time Finance CEO Ed Rimmer said: 'Our survey has shown there is a real gap for businesses in their knowledge of the sheer variety of options they have when it comes to business finance. It is clear they would benefit from the guidance and support of our broker partners, all of which work with businesses to introduce them to solutions that suit their specific ambitions and circumstances. 'Only 28% of those we surveyed have used a broker to access business finance. There will be businesses in the remaining 70% that either don't need finance or are potentially accessing finance directly from a lender, but there will inevitably be a majority of businesses that don't quite know where to start with accessing finance. 'We need to help bridge this gap. We want to work with our broker partners to help break down some of these barriers, to educate SMEs on the options available to them and help them access solutions that will ultimately fuel their growth.' To bolster its support for SMEs, Time Finance recently appointed Terry Wolfendale as the new head of sales (South) for its invoice finance division. The appointment formed part of the company's efforts to enhance its business finance support across London and the South East. Wolfendale will lead the southern sales division, focusing on expanding Time Finance's presence and strengthening its brand within the invoice finance market. As part of its growth strategy, Time Finance aims to expand its lending book to exceed £300m ($398.14m) by 2028. "Time Finance survey reveals 70% of SMEs miss out on broker support for growth" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
19-05-2025
- Business
- Yahoo
Grenke Q1 2025 earnings drop by 48.5% amid rising expenses
German leasing company Grenke has announced a 48.5% decline in its first-quarter (Q1) earnings for 2025 to €10.2m ($11.4m). The decrease was the result of a rise in expenses related to the settlement of claims and risk provisions, which are expected to also impact Q2 earnings. Interest income for Grenke rose by €27.7m, a 20.9% increase, reaching €159.8m in Q1 2025 compared to €132.1m in Q1 2024. However, interest expenses from refinancing the leasing business also increased by €13.9m to €60m, up from €46.1m in the same period last year. Consequently, Grenke's net interest income, which is the net difference between interest income and interest expenses, rose by 16% to €99.8m. The company also saw a boost in income from its operating business, increasing by €22.1m to €155m, due to growth in new business and service business profits. Operating expenses for Grenke rose by €10.8m year-on-year to €88.0m, with staff costs totalling €51.9m. Grenke's cost-income ratio was 56.8% in Q1 2025, compared with 58.1% in Q1 2024 and below its target threshold of less than 60% for the 2025 financial year. The average number of employees at Grenke, measured in full-time equivalents, increased by 6.5% to 2,296. Grenke CEO Sebastian Hirsch said: "We have laid the foundation for a long-term, sustainable increase in our profitability. We are in an excellent position to not only unlock the vast growth potential of global small-ticket leasing but also to translate that growth into rising profits." Due to a high number of insolvencies, the result from the settlement of claims and risk provision amounted to €47.6m in Q1 2025, similar to the latter half of 2024. The loss rate was under 1.9%, compared with 1.1% in Q1 2024. The operating result for Grenke was €14m, down from €24.9m in Q1 2024, with group earnings at €10.2m compared to €19.8m previously. Leasing new business grew by 10.6% in Q1 2025, reaching €740.6m, leading to an increase in lease receivables to €6.7bn by the end of the quarter. Grenke's equity ratio stood at 16% as of 31 March 2025, consistent with its target of approximately 16%. Grenke CFO Martin Paal said: "In the first quarter, our operating income grew at a faster pace than our costs. We are confident about the rest of the year, particularly given our earnings strength, which is increasingly evident in the income statement, and are maintaining our forecast." The company expects leasing new business volume for 2025 to be between €3.2bn and €3.4bn, with group earnings projected to range from €71m to €81m. "Grenke Q1 2025 earnings drop by 48.5% amid rising expenses" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
