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Asset-based lender Ultimate Finance has hit a new lending milestone with both their asset and bridging loan books hitting £100m milestones each at the end of the first quarter this year.
09/04/2024
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CredAble, India's largest working capital tech platform, announced a record-breaking milestone aggregate throughput worth US$8bn for the financial year 2023–24. The company maintains an industry-leading average invoice period accelerated by 73 days, with over 2.5 million invoices processed on its platforms.
09/04/2024
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Antares Syndicate 1274, the (re)insurance subsidiary in the Lloyd’s market of QIC’s Antares Global, has launched a consortium for underwriting of credit and political risk insurance.
09/04/2024
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In a strategic move to fortify its financial position, Kinetik Holdings Inc. has secured a substantial accounts receivables securitisation facility (A/R Facility) totalling US$150m from PNC Bank. The facility, maturing in April 2025 with provisions for ongoing renewal, underscores Kinetik's commitment to optimising its capital structure and enhancing liquidity.
08/04/2024
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Allianz Trade has released its latest report on global Days Sales Outstanding (DSO) and Working Capital Requirements (WCR). In this piece, the world’s leading trade credit insurer takes a look at how payment terms and corporate financing needs evolved in 2023, with a global, regional and sectorial approach.
08/04/2024
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PowerPay, a leading US fintech company specialising in real-time lending and payment solutions for contractors and physicians announced the closing of their inaugural securitisation obtained by home improvement and elective medical loans and a 144A transaction rated by KBRA, credit rating analysis agency.
08/04/2024
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On April 3, 2024, a notable shift occurred in the fintech sphere as Tat Yeen Yap bid farewell to his role at MonetaGo. Yap's journey with MonetaGo commenced in December 2020, fuelled by a shared vision to tackle pressing industry challenges, both in Singapore and on a global scale.
08/04/2024
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Introduction
05/04/2024
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Finacity Corporation (Finacity), a White Oak company, announced today that it has successfully renewed and upsized its existing IFRS off-balance sheet trade receivables securitisation for Votorantim Cimentos North America Inc. (VCNA).The transaction allows for up to US$250m in funding of the senior tranche through the securitisation of VCNA’s U.S. and Canadian receivables. Finacity served as structuring agent and coordinating the renewal process on behalf of the company. Finacity serves as the ongoing Administrator and provider of reporting services for the program.
05/04/2024
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Optimum Finance has appointed Ross Stephenson as Senior Relationship Manager (RM) to further drive new business growth and provide support to an experienced and growing relationship management team. Ross joins the team with almost 20 years’ experience in financial services, primarily in invoice finance and including four years in corporate banking with the Royal Bank of Scotland and Barclays. A former serviceman, Ross also completed a six-month NATO peacekeeping tour of Kosovo.
05/04/2024
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The International Accounting Standards Board (IASB) has recently published for public comment the Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard, which supplements the exposure draft published in September 2022.
04/04/2024
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Synovus has launched Accelerate™ Pay, a new payment solution that enables commercial banking clients to initiate account payable payments in several different payment types while minimizing the use of checks. The solution offers payees the freedom to choose how they want to get paid, with check payments and e-checks still an option.
04/04/2024
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Introducing the newest government-backed finance initiative, the Recovery Scheme (RLS), which aims to assist small and medium businesses in navigating the complexities of today's challenging economy. This initiative replaces CBILS and the Bounce Back Loan Scheme (BBLS), and its primary objective is to provide businesses with simplified access to finance.Key features of the Recovery Loan Scheme:
04/04/2024
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A new report1 revealing the latest trends and future predictions in UK lending and borrowing has been launched by Lenvi, the leading provider of lending software and solutions.The 2024 borrowing report is the 10th released by Lenvi, the firm which powers lending technology for the likes of Barclays, Santander, Metro Bank and Admiral, after launching its first report in 20132.
04/04/2024
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The International Factoring Association (IFA) announced that Thirdmark Capital has been named a Preferred Ally Member. IFA Ally Membership is open to companies that deliver a diverse range of products, services, and solutions to factoring companies and contribute to the overall prosperity and advancement of the industry. IFA Preferred Ally Members surpass the typical Ally Member by providing discounts or specialised services exclusively for IFA members.
04/04/2024
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