DAVENHAM ASSET FINANCE
enquiries@davenham.co.uk
Call us 0161 832 8484
  • WHAT IS ASSET FINANCE
    • Case Studies
    • Testimonials
  • MEET THE TEAM
    • Careers
  • ASSET FINANCE SERVICES
    • Asset Refinance
    • Vehicle Finance & Refinance
    • Construction Finance / Plant & Machinery Finance
    • Machinery & Equipment Finance
    • Agricultural Finance
    • Printing Equipment Finance
    • Machine Tool Finance
    • Recycling & Renewables Finance & Lending
    • Finance Lease
    • Hire Purchase / Lease Purchase
    • Short Term Finance
    • Turnaround Finance
  • BROKERS
  • NEWS
  • CONTACT
  • MORE
    • Treating Customers Fairly
    • Home

18th December 2015
Does recent alternative finance controversy call for increased regulation?

As you may know from a series of our previous blogs, alternative sources of funding are on the rise with increasing numbers of entrants to the market. In terms of volume, the sector is still considered minute, but is most definitely succeeding in challenging traditional perceptions, particularly in funding UK SME’s, where alternative finance is increasingly becoming ‘Plan A’. This is likely due to the speed of acceptance paired with availability of cash flow, and of course, the soon to be implemented Bank Referral Scheme which will hugely increase the number of SME’s becoming aware of the advantages of the alternative routes to finance available.

With such a buzz around these innovative alternative funding options, there has been a disproportionate amount of media coverage in comparison, however this also now seems to be on the rise, with the vast majority of coverage being positive. However, with more and more start-ups and small businesses turning to alternative finance, it was unlikely to get away unscathed when it comes to negative portrayals in the media, and in October, this is exactly what happened.

Stockholm based lending platform TrustBuddy AB filed for bankruptcy, with admission that their troubles were due to serious misconduct within the company; something likely to cast a shadow within the industry. Bankruptcy was filed following the discovery of an astonishing SEK44 million (€4.7 million) discrepancy – a destination arrived at by the firm due to using lenders’ capital to finance a number of bad debts, despite their instructions and lack of permission to do so. Amidst the controversy, Swedish FSA is expected to review the activities of other Swedish lenders, leading to more stringent monitoring of the sector and potentially a knock on effect to neighbouring markets.

So, what are your thoughts on the issues faced by TrustBuddy? Could this highlight the need for increased regulation within the industry? We would love to hear your thoughts, why not tweet us @DavAssetFinance and join in the conversation.
ASSETS FINANCED
• Construction Plant & Machinery
• Engineering Equipment
• Printing Machinery
• Manufacturing Machinery
• Agricultural Machinery
• Private Vehicles 
• Haulage Vehicles
• Bus & Coaches
TYPES OF FINANCE OFFERED
• Finance Lease
• Hire Purchase/Lease Purchase
• Refinance of existing assets
• Turnaround finance
• Short Term Funding
Tweets by DavAssetFinance
Register here to receive asset finance news
Part of the Davenham Group  including  www.davenhamtradefinance.co.uk
Registered Office 55 King Street, Manchester M2 4LQ.
​Company Number 08356079
Davenham Asset Finance is not authorised by the FCA to conduct regulated business and thus can only provide asset finance and asset refinance solutions to non-regulated businesses.
Careers  |  Privacy Policy | Cookies Policy | Terms & Conditions
Website designed by The VIVIDesigner
  • WHAT IS ASSET FINANCE
    • Case Studies
    • Testimonials
  • MEET THE TEAM
    • Careers
  • ASSET FINANCE SERVICES
    • Asset Refinance
    • Vehicle Finance & Refinance
    • Construction Finance / Plant & Machinery Finance
    • Machinery & Equipment Finance
    • Agricultural Finance
    • Printing Equipment Finance
    • Machine Tool Finance
    • Recycling & Renewables Finance & Lending
    • Finance Lease
    • Hire Purchase / Lease Purchase
    • Short Term Finance
    • Turnaround Finance
  • BROKERS
  • NEWS
  • CONTACT
  • MORE
    • Treating Customers Fairly
    • Home
Assets Financed
• Construction Plant & Machinery
• Engineering Equipment
• Printing Machinery
• Manufacturing Machinery
• Agricultural Machinery
• Private Vehicles 
• Haulage Vehicles
• Bus & Coaches
Types of Finance Offered
• Finance Lease
• Hire Purchase/Lease Purchase
• Refinance of existing assets
• Turnaround finance
• Short Term Funding
Part of the Davenham Group  including  www.davenhamtradefinance.co.uk
Registered Office 55 King Street, Manchester M2 4LQ. Company Number 08356079
Davenham Asset Finance is not authorised by the FCA to conduct regulated business and thus can only provide asset finance and asset refinance solutions to non-regulated businesses.
Careers  | Sitemap | Cookies Policy | Terms & Conditions

Website designed by The VIVIDesigner