The British Business Bank (BBB) has entered an agreement with 4Syte to provide an ENABLE Guarantee, supporting up to £100m ($117.4m) facility. This agreement is expected to enhance 4Syte's capacity to extend invoice finance and asset-based lending to smaller businesses across the UK. The ENABLE Guarantees programme aims to support lenders to increase their financing to smaller enterprises by reducing the capital required for such lending. The UK Government, under this scheme, shares a portion of the l ...

Aldermore Group has reported a 24% year-on-year fall in profit after tax, posting £141.1m ($190.8m) for the financial year ending 30 June 2025. The downturn in profits was primarily due to a £60.6m charge stemming from a review of historical motor finance commissions, a stark increase from the £18.1m charge recorded in FY2024. Additionally, the non-recurrence of last year's impairment provision releases related to CCA remediation activities in the motor division also contributed to the lower profits. De ...

Ultimate Finance has announced the appointment of Paul Hansen as the newly created asset finance sales director. The UK-based specialist lender said the move aims to bolster the company's broker-first growth strategy and enhance its leadership team following a period of record-breaking expansion in its asset finance loan book. Hansen steps into this role with more than 30 years of experience in asset finance sales, having held senior leadership roles at companies such as Novuna Business Finance, Aldermor ...