Topic filter : Lending To Small Businesses

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Latest Finance News related to Lending To Small Businesses

Relieved RBS bosses should spare a thought for the claimaints image
Source : Guardian [Read Article] Wednesday 7th of June 2017 02:27:31 PM
....9bn provision for even more write-offs on Popular’s troubled book of property loans. The prize at the end of the process is commanding market shares in Spain and Portugal, especially in lending to small businesses, and the chance to remove €500m from the combined cost base. ...
Peer-to-peer lending promised 6%, but I’ve been left red-faced and in the red image
.... It operates a waiting list for others keen to invest. Funding Circle The firm focuses on lending to small businesses rather than individuals, offering generally higher returns but with arguably more risk. ...
RBS facing £400m bill to compensate small business customers image
Source : Guardian [Read Article] Tuesday 8th of November 2016 08:07:43 AM
.... However, it does not necessarily indicate the bank will escape financial sanction as the regulator said it was “currently assessing what further work may be needed given the findings in the report”. McEwan has repeatedly defended the bank against claims that it deliberately tried to profit from small business customers and RBS repeated on Tuesday that it had lost more than £2bn in lending to small businesses. ...
BT Group helps FTSE 100 higher image
Source : BBC [Read Article] Tuesday 26th of July 2016 08:30:44 AM
.... The bank said that since the Brexit vote, it had "experienced continued strong customer demand and no evidence of changes in customer behaviour". However, the bank added it had deferred plans to start lending to small businesses. ...
Lloyds Bank pledges to help 25,000 exporters image
Source : Daily Express [Read Article] Tuesday 19th of April 2016 06:45:00 PM
....  . The new commitment is part of the Lloyd’s 2016 SME Charter which also includes pledges to continue growing lending to small businesses, help a new generation of start-up businesses and support small firms on their next phase of growth. ...
Source : Reuters [Read Article] Monday 1st of February 2016 09:32:05 AM
....The BoE said lending to non-financial businesses dropped by 3. 686 billion pounds, and lending to small businesses that are typically more reliant on bank lending fell by 299 million pounds. ...
....Britain's economic recovery is still heavily reliant on spending by households. The BoE said annual growth in lending to small businesses slowed to 0. ...
Worldpay to offer cash advances to small businesses image
Source : Telegraph [Read Article] Friday 4th of December 2015 05:00:00 AM
.... . Despite several government schemes intended to fuel bank lending to small businesses, many firms still find it tough to line up credit. ...
Bank of England extends credit support for small businesses image
Source : Guardian [Read Article] Monday 30th of November 2015 02:44:24 PM
....By extending the scheme, the Bank and the Treasury are responding to concerns by so-called challenger banks that they were not able to use the scheme as easily as established players. Even so, the FLS has been slow to increase lending to small businesses. ...
CMA report into banking sector reform – Q&A image
Source : Guardian [Read Article] Wednesday 21st of October 2015 01:28:27 PM
.... TSB – spun out of Lloyds and now owned by the Spanish bank Sabadell – has argued that banks should be forced to set out how much customers have paid each month in an effort to bolster transparency. The challenger banks have asked for help with capital requirements associated with lending to small businesses. ...
'Safer than peer-to-peer and steadier than bonds': Should you invest in corporate loans for a 5pc return?  image
.... Funding Circle, a leading peer-to-peer platform, offers new investors an estimated current return of 7. 2pc after fees, generated from lending to small businesses. ...
Brighter economy boosts SME lending in second quarter image
Source : Telegraph [Read Article] Thursday 3rd of September 2015 06:25:08 PM
.... . Net lending to small businesses by banks and building societies participating in the Bank of England's Funding for Lending scheme (FLS) rose by £490m between April and June. ...
UK service sector growth 'slows' image
Source : BBC [Read Article] Thursday 3rd of September 2015 09:22:07 AM
....Surveys published earlier this week also indicated the weakest growth for more than two years at Chinese and US factories, as well as a softening in China's services sector. Separately, the Bank of England said net lending to small businesses by banks and building societies taking part in its Funding for Lending scheme reached £490m in the three months to the end of June, compared with £400m a year earlier. ...
Britain hits record number of startups as more aspiring entrepreneurs take the plunge image
.... Funding is one of the biggest issues for aspiring entrepreneurs. Banks have tightened up their lending to small businesses following the economic downturn, although there are now a number of other funding routes available, from peer to peer lending to crowdfunding. ...
Finally, banks are lending to businesses again image
Source : Telegraph [Read Article] Thursday 28th of May 2015 01:57:26 PM
. Two and a half years after the Government unveiled a flagship Bank of England loan scheme, banks are finally growing their lending to small businesses, in a sign that Britain’s shortfall of private investment is turning a corner. ...
Trade deficit hammers UK growth in first quarter image
Source : Telegraph [Read Article] Thursday 28th of May 2015 08:50:42 AM
.... . Figures released by the Bank of England on Thursday showed net lending to small businesses by UK banks taking part in its flagship Funding for Lending Scheme (FLS) increased by £635m in the first quarter of this year. ...
Small Talk: Business leaders who backed the Tories have brought EU exit a step closer image
....As one of the banks embroiled in the interest rate swap mis-selling scandal, HSBC has attracted criticism from small businesses, particularly given the reluctance of banks to lend to the sector in recent years. However, Ian Stuart, head of UK commercial banking, insisted that HSBC was seeing net lending to small businesses rise, with an 85 per cent approvals rate for loan applications. ...
Bob Diamond looks to build biggest bank network in Rwanda image
Source : Independent [Read Article] Tuesday 28th of April 2015 01:29:12 AM
....”. Banque Populaire du Rwanda focuses on lending to small businesses and farmers, while BRD Commercial is in retail and mortgage banking. ...
Aldermore: How the bank formed in the depths of the crisis found success image
.... However, it has several distinctive characteristics. For one thing, its primary focus is lending to small businesses – a major area of concern for politicians worried about a lack of business investment in the UK. ...
Funding for Lending Scheme fails to deliver for small firms image
Source : Independent [Read Article] Friday 27th of February 2015 12:31:31 AM
....6bn in cheap loans in 2014, they collectively carried on contracting their overall corporate lending books. As well as the £2bn decrease in net lending to small businesses, net lending to large corporates declined by £14bn. ...
OECD warns George Osborne over weak housing construction image
Source : Independent [Read Article] Wednesday 25th of February 2015 12:53:15 AM
.... "The sustainability of economic expansion and further progress in living standards rest on boosting productivity growth, which is a key challenge for the coming years," it said. To boost productivity it called for greater spending on infrastructure and measures to ease the flow of lending to small businesses. ...
Center Parcs appoints bankers to work on a £2.5bn flotation plan image
Source : Independent [Read Article] Wednesday 18th of February 2015 12:31:33 AM
....Aldermore was launched by Mr Monks, a banking veteran with previous experience at Barclays, in 2009. It specialises in lending to small businesses, as well as offering savings products and home loans. ...
Source : Independent [Read Article] Saturday 7th of February 2015 01:31:03 AM
....The sale of loans to consumers is regulated by the FCA. But lending to small businesses is not. ...
British business set for £66bn lending windfall image
Source : Daily Express [Read Article] Monday 2nd of February 2015 09:39:00 AM
.... It was later revamped with a skew towards small firms. But net lending to small businesses under the scheme has continued to decline including a fall of £128million in the third quarter of 2014. ...
RBS says it will send small firms to peer-to-peer lenders image
Source : Telegraph [Read Article] Thursday 22nd of January 2015 04:55:06 PM
.... Research by the Department for Business last year found that half of all small firms that apply for a loan are rejected. The Government is working on several measures to push mainstream banks to refer rejected firms to alternative lenders in the hope that lending to small businesses will improve. ...
RBS admits mis-selling loans to troubled businesses image
Source : Independent [Read Article] Friday 16th of January 2015 12:49:27 AM
. Royal Bank of Scotland has run into yet more trouble over its lending to small businesses, with the launch of a review of loans that it sold through the Government’s Enterprise Finance Guarantee (EFG) scheme after the bank admitted to mis-selling. ...
Source : Reuters [Read Article] Friday 2nd of January 2015 09:47:35 AM
....The BoE also showed signs that businesses' reluctance to borrow from eased in November, particularly in smaller firms which have historically found it hardest to get credit. Net lending to businesses dropped by 149 million pounds, the smallest decline since August, and lending to small businesses rose by 286 million pounds, the biggest increase since records started in May 2011. ...
.... . Those who hope to see an increase in lending to small businesses in 2015 may be disappointed, research suggests – but not because the banks are any less willing to offer credit. ...
Small businesses boost confirmed in Autumn Statement image
Source : BBC [Read Article] Tuesday 2nd of December 2014 08:30:54 PM
....The scheme, which has already been extended once and was due to finish at the end of January, will now run until the end of January 2016. So far it has failed to increase net lending to small businesses, despite lenders drawing nearly £48bn ($75bn) from the scheme. ...
Banks remove barriers to business loans image
Source : Telegraph [Read Article] Sunday 30th of November 2014 07:00:34 PM
.... . Figures last week showed that banks using the Bank of England’s Funding for Lending Scheme – which include Lloyds, RBS and Nationwide – cut lending to small businesses by £128m in the third quarter of the year. ...
Bank loan scheme once again fails to improve business lending image
Source : Telegraph [Read Article] Thursday 27th of November 2014 07:33:57 PM
.... . The decline was, however, noticeably smaller than that seen in the first and second quarters, suggesting that net lending to small businesses may finally rebound at the end of the year, during the final three months of the scheme. ...
.... Often the loan is secured against the asset, which leaves the business able to conduct normal borrowing elsewhere, and there is generally an option to update the asset at the end of the agreement. Peter Alderson, managing director of LDF, one specialist leasing finance provider, said that while conventional bank lending to small businesses was falling, the increase in this sort of finance suggested businesses were expanding in order to take advantage of growth opportunities. ...
Bank lending to small businesses falls by £400m  image
Source : Telegraph [Read Article] Monday 20th of October 2014 09:59:12 AM
.... . “Net lending to small businesses is still falling, which is disappointing given their immense importance to the economy," commented Samir Desai, founder of Funding Circle. ...
Aldermore abandons £800m flotation image
Source : Guardian [Read Article] Wednesday 15th of October 2014 12:00:01 PM
.... TSB and OneSavings have floated and Virgin Money has announced plans to raise £150m through a listing this month. Aldermore – founded in 2009 by private equity firm AnaCap and headed by former Barclays banker Philip Monks – focuses on lending to small businesses and homeowners. ...
Aldermore set to become third British bank to float this year image
Source : Guardian [Read Article] Friday 3rd of October 2014 05:23:27 PM
....Aldermore expects to be valued at about £800m when it becomes the latest so-called “challenger” bank to list in London later this month. Aldermore, founded in 2009 by former Barclays executive Philip Monks with backing from private equity firms AnaCap and Morgan Stanley Alternative Investment Partners, focuses on lending to small businesses and homeowners, and has picked up customers from larger banks which are downsizing and building capital to meet tougher rules from regulators. ...
.... It seems incredible that after all these years of allegations the banks aren’t treating small businesses fairly, lenders are still making the wrong decision on a quarter of rejected loan applications, but that’s what the figures tell us is going on. Professor Griggs’ reports cut through the stultifying debate into why the total amount of lending to small businesses remains stubbornly low, despite the efforts of the Treasury and the Bank of England. ...
Jimmy Choo unveils plans for London float image
Source : Telegraph [Read Article] Tuesday 23rd of September 2014 07:00:52 AM
.... . The brief hiatus was broken on Monday by Aldermore, the bank that specialises in lending to small businesses. ...
Aldermore float could value the bank up to £900m image
Source : Guardian [Read Article] Monday 22nd of September 2014 01:14:27 PM
....City experts have said flotations had been delayed by the uncertainty caused by last week’s Scottish independence referendum and unfounded fears that it would produce a vote in favour of a breakaway. Phillip Monks, the Aldermore chief executive, who along with other management owns 2% of the business, said the flotation was necessary to continue growth in lending activities such as asset finance and lending to small businesses and for home loans. ...
Who gets credit from our banks? Not small firms… image
Source : Independent [Read Article] Monday 1st of September 2014 02:32:41 PM
.... The vast majority of bank lending (70 per cent) goes to households, in the form of mortgages. This breakdown lends support to the proposition there exists a structural problem with SME lending in the UK: our retail banks are comfortable channelling money to people to gear up to buy homes which are rising in value, but that they are much less comfortable when it comes to lending to small businesses that want debt finance to expand. ...
Source : Reuters [Read Article] Monday 1st of September 2014 08:42:29 AM
....9 billion pounds in June. But lending to small businesses alone fell by 400 million pounds, compared with 200 million pounds in June. ...
More skeletons in the RBS closet? image
Source : Independent [Read Article] Thursday 28th of August 2014 12:56:14 AM
....Perhaps the most disturbing of these is its finding that “until October 2012 there was no team or individual at the firms [RBS and its NatWest subsidiary] who in practice took responsibility for the end to end advised mortgage sales process”. Worryingly, that resembles what Sir Andrew Large, the former deputy Governor of the Bank of England, said in his review of the bank’s lending to small businesses, when he found “there is no single point of responsibility for the entirety of the SME business”. ...
UK mortgage approvals turn around image
Source : Reuters [Read Article] Tuesday 29th of July 2014 12:29:47 PM
....3 billion pounds in May. But lending to small businesses alone edged up by 235 million pounds, something economists said could herald an end to a financing drought for many small firms. ...
Vince Cable hits out at Bank of England over loans to small business image
Source : Guardian [Read Article] Wednesday 18th of June 2014 04:37:28 PM
.... He said: "The way the regulatory system operates has undoubtedly had a suffocating effect on business lending and particularly on our exporters. "Not surprisingly, the result is that banks pump out lending in the mortgage market, while lending to small businesses is restricted. ...
Vince Cable warns Bank of England: Don't choke off recovery image
Source : Telegraph [Read Article] Wednesday 18th of June 2014 03:23:22 PM
.... . He added that measures to make banks safer, such as increasing the reserves they must hold, would have to be introduced carefully, pointing out that current rules mean lending to small businesses requires five times as much capital as mortgage lending. ...
Ministers consider charges for bank accounts  image
Source : Telegraph [Read Article] Wednesday 18th of June 2014 02:39:27 PM
.... . It came as Mr Cable warned lending to small businesses is continuing to fall, despite concerted efforts by ministers. ...
Government help for small business is once again too little, too late image
Source : Independent [Read Article] Friday 6th of June 2014 03:18:43 PM
....Unlike the effectiveness of the Help to Buy scheme in getting first-time buyers onto the property ladder and stoking confidence, the Funding for Lending programme that was refocused on corporate credit has done little. Recent data showed that lending to small businesses sank by £723m in the first three months of the year. ...
Should you back 'boring' TSB shares? image
Source : Telegraph [Read Article] Friday 30th of May 2014 08:52:23 AM
FCA head warns against using recovery to fight regulation image
Source : Guardian [Read Article] Thursday 29th of May 2014 06:29:27 PM
.... It imposed a record £474m in fines in its first year and has continued to hit firms hard for misconduct. Banks have claimed that rules requiring them to hold more capital against future losses have constrained them in lending to small businesses and aiding the recovery. ...
SMEs lending declines as Help to Buy hits £1bn image
Source : Independent [Read Article] Thursday 29th of May 2014 11:57:35 AM
....Lending to small businesses has declined by £700 million while the taxpayer underwrites more than £1 billion of home loans with mortgage guarantees, official figures show. The Bank of England’s latest data on its flagship Funding for Lending scheme — now specifically targeted to encourage corporate credit — showed lending to small businesses sank by £723 million in the first three months of the year. ...
Timing of mortgage rate rise looks less certain after Bank of England meeting image
....The prospect of a rise in mortgage rates next spring looks more uncertain after Bank of Engand policymakers appeared to be split over when to end the UK's five years of cheap credit. The nine-strong monetary policy committee was divided at its meeting earlier this month after a sharp fall in unemployment and rapid GDP growth contrasted with low average wage rises and a lack of lending to small businesses. ...
Building society members in line for future windfalls image
Source : Telegraph [Read Article] Wednesday 7th of May 2014 01:09:40 PM
.... . It specialises in residential mortgages, including shared ownership mortgages, and buy-to-let, as well as lending to small businesses. ...

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