All articles by Grant Collinson
Grant Collinson
AF needed for capex boost suggests research
Siemens Financial Services (SFS) has published research which shows a growing desire among global companies, including those in the UK, to increase their capital expenditure on equipment and infrastructure. The fourth annual SFS Business Investment Confidence Index measures businesses desire to invest in their equipment and infrastructure across eight economies and in UK the index has increased from 62 last year to 83.
Fleet manager CLM wins deal to cut emissions
Fleet management group CLM has won a new contract to operate the fleet for property developer Peel Group. Buckinghamshire-based CLM have been appointed to manage the Manchester-based companys fleet of 127 vehicles after an extensive tendering process. This is the second such contract for CLM in a fortnight following its appointment to manage the fleet of equipment company Arco.
Bank lending to lessors down 16%
Banks have reduced their lending to leasing companies by 16 percent in the last year, according to Bank of England research collected by independent finance company Syscap. Outstanding loans from UK banks to financial leasing companies were £23.8 billion for 31 March 2011 compared to £28.4 billion a year previous. The figures also reveal a 35 percent drop on the level of bank lending to leasing companies three years ago of £36 billion.
Speedy Hire secures £220m loan deal
UK construction equipment leasing company Speedy Hire has signed a £220 million credit facility with a syndicate of six banks as part of a recovery and growth strategy. The Royal Bank of Scotland and Barclays Corporate, as lead arrangers in the deal, and Lloyds Banking and Burdale Financial as additional lenders, continue their relationship as lenders to Speedy Hire having provided the previous loan as part of another syndicate.
Alphabet hires Gallop for fleet management
Following the recent senior management reshuffle, fleet leasing company Alphabet has appointed a new head of fleet management. Martyn Gallop takes on the newly created role in the operational management team. Before joining Alphabet, Gallop held the post of operations director with Fleet Logistics for five years and held the same post with Hitachi Vehicle Solutions
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UK’s broker industry needs to train youngsters
More training and investment in young people is needed to ensure the future of the asset finance broker industry, business leaders have said. Following the National Association of Commercial Finance Brokers (NACFB) conference this week industry members have called for widespread professional training to bring in young people and modernise the business. Don Hirst, head of brokers at Aldermore, said the broker industry was getting old and needs to introduce new blood in an address at the NACFB conference in Birmingham.
EBRD lends ?30m to UniCredit Leasing Russia
The European Bank for Restructuring and Development (EBRD) will lend UniCredit Leasing Russia (UCLR) 1.2 billion roubles (30 million) as part of strategy to boost the countrys leasing sector. The five-year loan will support UCLRs plans to meet a growing demand in Russia for leased equipment and heavy vehicles, a structurally important area of the economy which saw a dramatic fall during the 2008-2009 crisis
Investment & finance firm team up to fund UK SMEs
Specialist finance company Ultimate Finance has signed a partnership deal with investment firm Finance South East Group (FSE) to provide SME funding. Ultimate Finance specialises in funding SMEs using factoring, invoice finance and asset finance and will now become preferred supplier partner to provide those services to FSEs existing and new clients The deal highlights a trend identified by the Bank of England that more and more SMEs are turning to alternative finance models rather than traditional high street bank lending.
Schools look to leasing in austere times
As austerity measures place strain on UK schools IT budgets, the leasing industry could step in to provide an alternative source of finance for learning technology. An industry survey by asset finance provider Syscap found more than half of schools would look for ways to spread the cost of investment on the back of cuts to their capital expenditure.
BofE: Smaller co’s reluctant to seek bank credit
Small businesses in the UK are turning to alternative forms of finance due to perceived difficult credit conditions, a Bank of England report has found. The latest regional agent report to the Banks Monetary Policy Committee for June suggested smaller companies were reluctant to seek credit from banks in case the cost of their current borrowings increased as a result.