Posts Tagged ‘Experian’

Boost Capital and Open Banking, Checking Your Credit Score and Asset Finance Growth – BFB 250

Posted on: March 23rd, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

The term Open Banking may still be a mystery to many people, but more lenders are beginning to adopt the technology and benefits it brings. We open our latest Bulletin with news that Boost Capital, the short term business finance provider, has embraced Open Banking to speed up the processing of finance applications.

New research from Experian, the credit reference agency, reveals that a high proportion of people have never checked their personal credit score. We look at why it’s important to do so, especially prior to applying for business finance. In the Bulletin we mentioned a longer video with tips on how to improve your business credit score.

To close, our regular look at activity in the asset finance sector. The latest figures from the Finance and Leasing Association show that in January, usage of asset finance bucked the trend in terms of appetite to invest.

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Business Credit Scores, ESME Loans Roll-out and Brexit Stockpiling – BFB 242

Posted on: January 26th, 2019 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

Having a Credit Score at the right level is an important factor when seeking finance. To open this week’s Bulletin, we look at recent research from Experian, the credit reference agency, which reveals the area of the UK which has the highest average business Credit Score. Is it your region?

From launching a pilot online lending platform in 2017, NatWest has announced the formal roll-out of ESME Loans to its customers. We take a look at the levels of business done during the pilot phase and its key features.

To close, having avoided a mention of it in the previous Bulletin, we’re backed to a Brexit-focused story! Lloyds Bank, as part of a monthly Manufacturers survey, has found evidence that businesses may be starting to stockpile in advance of Brexit. What impact can this strategy have on cashflow though?

If you would prefer to listen to the podcast version you can click below or download to listen to later via our Soundcloud, Stitcher or itunes channel.

Business Finance Bulletin Epsd 103: Impact of Insolvency, Crowdfunding in 2015, and Invoice Fraud

Posted on: January 8th, 2016 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest episode of the Business Finance Bulletin Rob Warlow examines findings by R3 of the impact insolvency can have on small businesses which are left with outstanding payments and little hope of recovery.

2015 saw the crowdfunding sector reach new highs. Rob looks at highlights from Funding Circle and Crowdcube and also two industry pioneers who were recognised in the New Years Honours list.

Invoice fraud – have you been affected? If you’re luckily enough not to have fallen victim Rob shares news of a service now being offered by Experian to help combat this growing scam. Rob also chats with Damon Rands, a cyber security specialist, where he shares tips on how to protect your business.

The Business Finance Tip of the Week focuses on the importance of separating your personal and business finance dealings.

If you prefer to listen to the podcast version you can tune in below or download via our Soundcloud, itunes or Stitcher channels.

Business Finance Bulletin Episode 77: Alternative Finance, Funding for Lending Scheme, Credit Reports & Invoice Discounting

Posted on: June 5th, 2015 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin episode Business Loan Services’ Rob Warlow looks at how business owners are becoming more aware of alternative finance and willing to consider it as an option to obtain funding. Rob also shares news from Funding Circle of their new bridging loan product.

The Funding for Lending Scheme, launched by the government in 2012 to boost lending to small businesses, may not have been roaring success, but Rob looks at statistics which shows signs of improvement in usage by the banks involved in the scheme.

A clean Credit Report is one thing a lender will look for when assessing a finance request but such don’t necessarily provide a complete picture… until now. Rob shares news from Experian on how additional information now being shared will provider lenders with a better understanding of an applicant’s financial position.

In the Business Finance Tip of the Week Rob chats with Gareth Pritchard of Lloyds Bank Commercial Finance in which talks about the key features of Invoice Discounting.

You can also listen to this week’s edition in a podcast version by clicking below to listen or download. You can also subscribe via our itunes channel.

Late Payment: A Barrier to Growth

Posted on: May 24th, 2015 by blsuser1 No Comments Tags: , , , , , , , ,
Posted in Business Finance Tips

If there is one thing that is going to hold back a business’ ability to grow its late payment.

Not being paid on time can be a barrier to growth and feedback I get from the Business Loan Services team is that this is a major bugbear amongst many of our clients.

But as the economy grows there are signs that payment settlement is showing signs of improvement.

A recent survey from Experian the credit reference agency showed that UK businesses paid their overdue bills on average one day faster between April 2014 and March 2015.

The national average of the number of days in which businesses pay beyond terms dropped by just under a whole day to 24.29 days

Perhaps not surprisingly, because they understand the pain late payment can cause, the smallest businesses were the quickest to tackle overdue invoices, as businesses with one or two employees settled bills 20.58 over agreed terms. This was an improvement of just over half a day.

Businesses with three to five employees showed the greatest improvement, paying bills 1.3 days faster at 21.34 days over agreed terms.

What about the UK’s largest business who typically have the finger pointed at them…. how have they performed?

Although those businesses, employing 501 people or more, took the longest to settle bills at 34.18 days over agreed terms in the year to March 2015, they did improved their payment performance by just under one day.

So well done to the big boys… but you still have work to do!

So if you do suffer from late payment what can you do?

Here are some tips from Experian:

Tip Number 1 – Check their status: Is the business you are dealing with real? Search them out on the web and see what you can find. Do they have a strong internet footprint?

Tip Number 2 Do a Credit Check: Carrying out a credit check will reveal their credit status, trading history and how they have paid in the past. All this will help you decide whether they are worthy of you giving them credit terms.

Tip Number 3 Remain Watchful: Nothing ever stays the same; the economy and individual businesses are constantly changing – a profitable business and a previously prompt payer can quickly turn into a business that is on its way down. The trick is to regularly run updated credit checks so you don’t get caught out.

Follow these tips and you will minimise the risk of being left with a long list of late payers.

Business Finance Bulletin No 55: Business Confidence, Credit Scores & Crowdfunding a Moon Mission

Posted on: December 19th, 2014 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin Rob Warlow reviews a recent survey carried out by the Federation of Small Businesses which looked into SME confidence levels and barriers to business growth.

Many businesses don’t realise how important a clean credit record is when it comes to raising business finance. To counter this, credit reference agency Experian has launched a new support tool which Rob takes a look at.

Crowdfunding has clearly taken off with a recent successful raise for a project to drill on the moon! Rob takes a look at how the Lunar Mission One has successfully raised its first tranche of funding on Kickstarter.

In the Business Finance Tip of the Week, as part of an interview Rob shares his thoughts on the role a business owner’s experience has when it comes to the bank assessing your request for a business loan.

If you prefer to listen to this week’s edition as a podcast you can download it from our Souncloud page or click below to listen.

Business Finance Bulletin No 47: Handelsbanken, RBS & P2P, Customer Credit Searches & Cashflow Tips

Posted on: October 24th, 2014 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin Rob Warlow looks at how Handelsbanken, one of the UK challenger banks, are supporting SMEs by increasing the amount of money they have lent out.

Rob also looks at the news that RBS may be launching its own peer-to-peer or crowdfunding platform at the end of the year. How times are changing!

Banks are still getting their wrists slapped for the flouting the rules with this week’s revelations that HSBC and First Trust Bank have been pulled up by the Competition and Markets Authority.

Rob looks at a recent survey by Experian which reveal that many business owners are not assessing how creditworthy their clients are before giving out credit terms.

And in the Business Finance Tip of the Week, a clip from a live seminar in which Rob shares a strategy on controlling overdue payments.

You can also listen to this week’s Bulletin in audio as a podcast. To listen either click the image below or you can download the episode to your PC or phone via Soundcloud.

Business Finance Bulletin 44: Zombie Businesses, Credit Reports, Funding Empire & Value Adding Projects

Posted on: October 3rd, 2014 by blsuser1 No Comments Tags: , , , , , , , , , , , , , , , , , ,
Posted in Business Finance Bulletin

In the latest Business Finance Bulletin Rob Warlow reviews findings by the Insolvency trade body R3 on how zombie businesses may be facing challenges ahead as the economy grows.

New lenders keep appear on the finance scene and Rob shares the news of a new commercial lender, Secure Trust Bank, which is providing asset-based financial support to growing SMEs.

Funding Empire is one the growing band of crowdlenders and Rob has a chat with Parag Patel, owner and founder on what Funding Empire can do to help business owners access finance.

A clean credit report is important when raising finance and in this edition Rob looks at a recent survey by Experian, the credit reference agency, which reveals that many business owners have little knowledge about the make-up of a good or bad credit profile.

In the Business Finance Tip of the Week Rob shares a clip from a recent Business Wales ‘Access to Finance Workshop’ in which he talks about the type of proposals banks like to see.

You can also listen to this week’s episode as a podcast by clicking below or downloading it to your phone via Soundcloud so you can listen at your leisure.

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  • Rob delivered a series of 3 workshops aimed at understanding how finance houses look at finance propositions with the aim for us as a team to deliver more of a bespoke offering to our customer base. The training was delivered to a mixture of staff who work with new businesses start-ups and existing established businesses across Mid & South West Wales. Rob delivered the training with an abundance of passion and has really helped my team look at financial propositions in a different light, many thanks again Rob and I look forward to work with you in the near future.

    Shayne Yates | Welsh Government Regional Centre Service Mid Wales
  • Hi Rob, it was so interesting and entertaining listening to you at the Kevin Green Wealth Coach Workshop in Reading this weekend! I didnt realise you can find Finance proposals such fun!. Brilliant tips! Thanks.

    Gaz Jabeen | Bollywood Burn Out
  • Rob kindly agreed to attend the recent Pontypridd RFC sponsors networking evening and delivered what can only be described as an excellent talk on 5 Tactics to Boost Your Business and Your Profits. He kept the audience engaged throughout and the feedback from everyone was excellent. Rob is very knowledgeable on business and finance and on top of that is a genuine nice guy. We hope to have him back at a future event and I have no hesitation in recommending Rob’s services.

    Angela Holloman-Coombes | Connective HR
  • Further to your recent presentation at LEAD Wales just wanted to say it was very refreshing to see somebody talk passionately and positively about finance, very insightful!

    Kay Hyde | Hyde & Hyde Architects
  • I wanted to thank you for such an insightful, energetic, and entertaining talk at the Kevin Green Wealth event on securing funding and creating a successful plan. It was brilliantly executed and a pleasure to listen to and the ideas I’ve learned are definitely going to help me in going forward.

    Max Cooper of Manchester

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