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# Alt-lenders now lead UK SME credit as risk signals diverge
- URL: https://blog.heygrand.com/alt-lenders-now-lead-uk-sme-credit-as-risk-signals-diverge/
- Published: 2026-05-19T09:00:08.000Z
- Updated: 2026-05-19T09:00:11.000Z
- Author: Kirk Donohoe
- Tags: News

*UK B2B Credit and Lending News Digest 10–16 May 2026 – Covering 10–16 May 2026.*

**Summary**

Funding Circle’s 2025 Economic Impact Report, produced with Oxford Economics, confirmed that alternative providers and challenger banks now account for 68% of UK SME lending, making the Big Four the structural minority.⁷⁷ In the same week, the King’s Speech brought ring-fencing reform.¹ It also brought a statutory 60-day maximum payment term.¹⁴ The BNPL Temporary Permissions Regime opened during the same week.³ The FCA, BoE and HMT also issued a joint statement on frontier AI and cyber resilience.⁴ Policy moved, but the market structure had already shifted.

The signal is bifurcation, not a clean turn. FLA lending prints were strong.⁵ UK Finance mortgage arrears remained low.⁷ SME confidence is fragile.⁶ Vacancies are at their lowest since early 2021.⁸ Card spending has turned negative year on year.¹² Premium Credit found that 90% of SMEs now use credit to fund insurance.¹³ 

Lending is growing faster than confidence; secured credit looks benign while unsecured and SME risk indicators are turning. Reading rate cuts as a simple cycle signal means reading past the divergence.

## **1\. Key developments**

- **Ring-fencing reform.** The Enhancing Financial Services Bill updates bank ring-fencing rules. The biggest direct benefit is for banks above the £35bn deposit threshold: Barclays, HSBC, Lloyds, NatWest and Santander UK.¹
- **Late-payment reform.** The Small Business Protections Bill introduces a 60-day maximum payment term, mandatory late-payment interest and stronger Small Business Commissioner powers.¹⁴
- **UK Finance Plan for Growth.** UK Finance called for lower bank capital requirements, redress reform and less regulatory and tax complexity.² ¹⁵
- **BNPL regulation.** BNPL firms must register between 15 May and 1 July if they want to keep operating when regulation starts on 15 July. Affordability checks, Consumer Duty rules and Financial Ombudsman access will apply.³
- **AI and cyber risk.** The FCA, BoE and HMT warned that frontier AI creates new cyber risks for regulated firms. Boards will need stronger oversight of AI, third-party technology and incident response.⁴
- **GDP and construction.** GDP grew 0.6% in Q1 2026\. Services rose 0.8%, production rose 0.2% and construction rose 0.4%. But construction was weaker underneath: repair and maintenance rose 3.4%, while new work fell 1.9%.¹⁶ ¹⁷
- **Insolvencies.** April insolvency data showed 2,296 business insolvencies across the UK and Northern Ireland, down 25% month on month and 8% year on year. Construction accounted for the largest share, with 432 cases.¹⁸
- **FLA lending data.** Asset finance rose 9%, consumer finance rose 9%, consumer car finance volumes rose 8%, and second-charge mortgage volumes rose 20%. This was a strong March print, but not enough to call it the strongest month of the year.⁵
- **FCA appointments.** [Simon Walls](https://uk.linkedin.com/in/simon-walls-63a6382b?ref=blog.heygrand.com) was confirmed as Executive Director, Markets.[ Johan Sekora](https://se.linkedin.com/in/johan-sekora-44266817b?ref=blog.heygrand.com) joins as COO from SEB, where he led financial-crime prevention.¹⁹
- **Consumer-credit promotions.** FCA CP26/15 proposes simpler consumer-credit promotion rules and more reliance on Consumer Duty outcomes.²⁰
- **Motor-finance redress.** The FCA faces four legal challenges to its motor-finance compensation scheme. Hearings are unlikely before October, and payouts could be delayed until at least mid-November.²¹

## **2\. Market signals**

### **Credit risk**

- **Business failures remain high.** April insolvencies fell to 2,296, down 25% MoM and 8% YoY, with construction the largest category at 432 cases.¹⁸
- **SME confidence is weak.** iwoca/Credit Connect reported that SME recession fears hit a two-year high, with 54% of brokers saying SMEs are worried about recession.¹⁰ Bibby’s SME Confidence Tracker fell to 51% in Q1, down from 66% in Q3 2025.²⁴ The FSB Small Business Index also points to weak confidence.²² ²³
- **More firms are under pressure.** BTG/Begbies Traynor reported 62,193 firms in critical financial distress, up 36.9% year on year. It also reported 634,867 in significant distress, up 9.6%.²⁵
- **The labour market is cooling.** Vacancies fell to 711,000 in January–March 2026, the lowest since February–April 2021\. Unemployment was 4.9%.⁸
- **Court judgments are rising.** Commercial judgments rose 1.9% to 176,273 in 2025\. There were around 4,728 judgments per working day, up 10% on 2024.²⁶
- **Mortgage arrears remain low.** Homeowner arrears were 0.91% and buy-to-let arrears were 0.47% in Q1\. Secured credit is not the main stress point this quarter.⁷
- **Consumer spending is weakening.** Barclays reported UK card spending down 0.1% year on year in April, the first annual fall since November 2024.¹²

### **Lending conditions**

- **Mortgage rates eased.** Selected consumer mortgage rates fell as funding conditions improved. There was no clear public sign of similar easing in commercial lending.¹¹
- **Bank Rate stayed at 3.75%.** The BoE held rates by an 8–1 vote at its 29 April meeting.²⁷ Catherine Mann and Sam Woods both gave speeches pointing to a cautious policy environment.²⁸ ²⁹
- **Lending data was strong.** FLA March data showed asset finance +9%, consumer finance +9%, consumer car finance +8% and second-charge mortgages +20%.⁵ EY still expects business-lending growth to slow to 3.5% in 2026, down from 6.9% in 2025.³¹
- **Alt-lenders are now central to SME credit.** Funding Circle’s report says alternative lenders and challenger banks account for 68% of UK SME lending. It also reports £3bn of loans under management, a £7.9bn GDP contribution, 117,000 jobs supported and £2.2bn in tax contribution.⁷⁷
- **Broker demand is softening.** iwoca’s SME Expert Index found that 22% of brokers expect SME finance demand to fall, while 57% expect it to rise, down from 74% in Q4 2025.⁷⁸
- **Private credit is gaining in property lending.** Bloomberg/Bayes reported that debt funds’ share of UK real-estate lending rose to 31%, up from 15% in 2020.³²

## **3\. Where risk is building**

- **Construction.** CPA expects UK construction output to fall 2.5% in 2026.³³ Q1 construction was positive overall, but new work fell 1.9%.¹⁷ Construction also had the most April insolvencies, with 432 cases.¹⁸ The April construction PMI fell to 39.7.³⁴ The proposed retentions ban and 60-day payment cap may help subcontractor cash flow, but they do not change the weak sector trend.³⁵
- **Hospitality and retail.** Hospitality confidence was deeply negative, while April cost pressures from business rates, wages and employer NI squeezed margins further.²³ Accommodation and food had 312 insolvencies in April.¹⁸ Barclays card spending fell year on year, and the CBI retail sales balance dropped to −68, the weakest reading since the survey began.¹² ³⁶
- **Specialist real estate and bridging.** MFS entered administration in February, raising questions about higher-risk specialist property lending. The BDLA / Interpath bridging survey closed on 8 May, with results expected later.³⁷ Debt funds’ rising share of CRE lending shows more property credit is moving away from bank balance sheets.³²
- **Energy-heavy manufacturing.** Ceramics, glass, foundries and packaging remain exposed to energy and oil-linked input costs. This could pressure receivables and credit quality later in the year.³⁸
- **SME working capital.** Premium Credit reported that 90% of SMEs now use credit to pay for insurance, up from 54%. Average borrowing rose 65% to nearly £1,945, and 41% cited premium increases.¹³
- **Regional stress.** Scottish critical financial distress rose 49.5% year on year, from 2,353 firms to 3,517\. National figures should be checked against regional exposure.³⁹

## **4\. Where credit is getting stuck**

- **Demand is the issue, not just supply.** Only 1.5% of UK SMEs apply for bank loans, compared with up to 22% in major EU countries.⁴⁰ More bank capacity will not automatically create more lending if fewer SMEs apply.
- **Construction pipelines need a reset.** Construction output rose overall, but new work fell 1.9%. Development-finance teams should focus on the weaker new-work line, not the headline construction number.¹⁷
- **Lower prices are not enough.** Twenty7tec reported total mortgage searches down 20% month on month, residential remortgage searches down 32%, and BTL remortgage searches down 23%.⁴¹ Even with some rate cuts, borrower confidence remains weak.

## **5\. Who is doing what**

### **Big banks**

- **Lloyds.** Selected Lloyds/Halifax mortgage rates eased, but there was no clear public commercial-lending shift. Lloyds remains cautious on the UK outlook.¹¹
- **Barclays.** Barclays reported card spending down 0.1% year on year. Its UK Corporate Bank lending balances grew 15% year on year to £31bn, making it the clearest Big Four growth outlier.¹²
- **NatWest.** Commercial & Institutional lending grew 10.4% year on year to £159.6bn, and full-year guidance was held.
- **HSBC UK.** HSBC cut selected UK mortgage rates by up to 0.30pp. Group expected credit-loss guidance rose to around 45bps from 40bps.¹¹
- **Overall bank read.** Consumer mortgage pricing eased, but commercial-credit easing is less visible. Big-bank risk appetite still looks cautious.

### **Expanding lenders**

- **Shawbrook.** All new unsecured business lending now runs through Playter. Its Q1 loan book reached £19.7bn, deposits reached £18.7bn and 3m+ arrears were 1.7%.⁴³ ⁴⁴
- **iwoca.** iwoca launched a business credit card with lines up to £250k, 1% cashback and 42 days interest-free.⁴⁵
- **Lendable.** FT reported 2025 profits up 120% to about £155m and revenues up 90% to about £608m. Lendable issued more new consumer-credit loans by volume than any UK bank in 2025.⁷⁹
- **Wayflyer.** Wayflyer extended a $250m two-year credit facility with ATLAS SP Partners.⁴⁶
- **Allica Bank.** Allica continues toward its £1bn working-capital deployment target.

## **6\. Capital and funding**

- **Wholesale funding and mortgage pricing.** Some mortgage-rate cuts show that funding pressure eased, at least for prime consumer lending. Specialist credit remains more selective.¹¹
- **Ring-fencing reform.** The reform benefits banks above the £35bn deposit threshold and does not directly help smaller challengers.¹
- **BoE credit conditions.** The BoE Q1 Credit Conditions Survey reported corporate credit availability as broadly flat overall, while availability improved for small, medium and large firms individually.⁴⁷
- **Mortgage arrears.** Homeowner arrears were 0.91% and BTL arrears were 0.47%, both low by historical standards.⁷
- **Energy and labour-market pressure.** Energy costs and falling vacancies partly offset the benefit of lower funding costs.⁸ ³⁸
- **British Business Bank.** NPIF II has supported more than 400 businesses and helped facilitate almost £275m of investment across the North. The British Business Bank also participated in Elliptic’s $17.5m Series D.⁴⁸ ⁴⁹
- **CRE debt funds.** Debt funds now account for 31% of UK real-estate lending, up from 15% in 2020.³²

## **7\. People and leadership signals**

- **FCA.**[ Simon Walls](https://uk.linkedin.com/in/simon-walls-63a6382b?ref=blog.heygrand.com) was confirmed as Executive Director, Markets.[ Johan Sekora](https://se.linkedin.com/in/johan-sekora-44266817b?ref=blog.heygrand.com) joins as COO from SEB, where he led financial-crime prevention.¹⁹
- **Insolvency Service.**[ Peter Walton](https://uk.linkedin.com/in/peter-walton-bb553827?ref=blog.heygrand.com) and[ Koral Anderson](https://uk.linkedin.com/in/koral-anderson?ref=blog.heygrand.com) were appointed Non-Executive Directors, adding board-level capacity as insolvency workloads remain high.⁵⁰
- **PRA.**[Katharine Braddick](https://uk.linkedin.com/in/katharine-braddick-7527a19?ref=blog.heygrand.com) succeeds Sam Woods as PRA CEO in June 2026\. Ring-fencing and capital reform will be early items in her tenure.¹⁴
- **Dudley Building Society.**[Helen Smith](https://uk.linkedin.com/in/helen-smith-a0947116?ref=blog.heygrand.com) was appointed Chief Growth Officer, suggesting smaller mutuals are positioning for growth.⁵²
- **R3.**[ Jodie Wildridge](https://uk.linkedin.com/in/jodie-wildridge-630989150?ref=blog.heygrand.com) was appointed Yorkshire regional chair, adding regional restructuring capacity.⁵⁶
- **CIVEA.**[ Amy Collins](https://uk.linkedin.com/in/amy-collins-16483670?ref=blog.heygrand.com) is in place as President as commercial judgment volumes remain elevated.²⁶ ⁶⁰
- **OakNorth.**[Gergely Zaborszky](https://uk.linkedin.com/in/gergely-zaborszky-447aa84?ref=blog.heygrand.com) was appointed CFO, effective July 2026, subject to regulatory approval.⁵³

## **8\. Industry signals**

- **Broker channel.** NACFB membership reached 1,414 firms and 3,011 brokers. Patron lender membership reached 177, up 9% year on year.⁶³
- **Alternative lenders and BNPL.** BNPL registration closes on 1 July, with regulation starting 15 July.³ Smaller providers face higher relative compliance costs.
- **Credit insurance.** Allianz Trade UK, Coface and Atradius have different UK insolvency forecasts. Credit teams should check each insurer separately, not rely on one market view.⁵⁴ ⁶⁴
- **Construction bodies.** BCC data shows 73% of firms cite labour costs and 52% cite energy/utilities as price drivers.⁶ The late-payment Bill and retentions ban proposal may help construction cash flow.³⁵ ⁶⁵
- **Collections technology.** Concentrix and Flexys announced a partnership combining Flexys’ collections software with Concentrix’s BPO scale.⁶⁶
- **Fraud and financial crime.** Cifas recorded 444,000 fraud cases in 2025, a record.⁶⁷ It also found that one in eight UK workers admit to selling, or knowing someone who sold, company login details.⁶⁸
- **Premium finance.** Premium Credit found that 90% of SMEs use credit to pay for insurance.¹³
- **Late payment.** The Fair Payment Code tiers are active, and the 60-day cap reinforces the push for faster payment.¹⁴ ⁶⁹ ⁷⁰
- **FCA activity.** The FCA remained active on vulnerability, financial crime, bereaved customers, pension-transfer advice, strategy and consumer-credit restrictions.⁷¹ ⁷²

## **9\. What to watch next**

- **Commercial pricing.** Watch for the first clear commercial-pricing cut outside Barclays. That will show whether easing is spreading beyond prime consumer credit.⁷ ¹¹
- **Construction losses.** New work fell 1.9%, PMI was 39.7 and construction had 432 April insolvencies. Credit losses may rise later in the year.¹⁷ ¹⁸ ³⁴
- **BNPL and retail.** The 1 July BNPL registration deadline lands while card spending is already negative year on year.³ ¹²
- **AI supervision.** Firms should keep AI model lists and third-party AI provider records up to date.⁴ ¹⁹
- **Policy mismatch.** Ring-fencing reform helps the Big Five, but 68% of SME lending now comes from alternative providers and challenger banks.¹ ⁷⁷

## **10\. Operator actions**

- **SME pricing.** Cut headline pricing where competition demands it, but do not loosen underwriting standards.⁵
- **KYB checks.** Tighten checks on new SME borrowers, especially new-to-bank unsecured lending.⁶⁷ ⁶⁸
- **Construction credit.** Re-mark construction and development-finance lines against new work at −1.9%, not the headline construction figure.¹⁷
- **Credit insurance.** Check insurer appetite separately for construction, hospitality and specialist real estate.⁵⁴ ⁶⁴
- **BNPL-exposed merchant lending.** Review issuer readiness before the 1 July BNPL deadline, especially in hospitality and retail.³ ¹²
- **AI underwriting and collections.** Review AI models, third-party providers and incident-response plans.⁴ ¹⁹

Check out[ https://heygrand.com/](https://heygrand.com/?ref=blog.heygrand.com) for more on how we can help with AI-driven credit and lending control.

## **11\. Upcoming events**

- 20 May —[ Credit Connect 2026 Industry Leaders Networking Dinner](https://www.credit-connect.co.uk/events/2026-industry-leaders-networking-dinner/?ref=blog.heygrand.com) (Credit Connect, Nottingham). 2026 Industry Leaders list announced.
- 21 May —[ Credit Connect Spring Commercial Credit & Collections Conference](https://www.credit-connect.co.uk/events/spring-commercial-credit-collections-conference/?ref=blog.heygrand.com) (Credit Connect, Nottingham). Practitioner read on collections behaviour and credit-policy posture.
- 21 May — Credit Connect Spring Credit & Collections Think Tank (Credit Connect, Nottingham).
- 21 May — Credit Connect 2026 Credit & Collections Industry Awards (Credit Connect, Nottingham). Third annual Industry Awards — 108 finalists from \~80 companies.
- 21 May —[ ONS CPI April 2026](https://www.ons.gov.uk/economy/inflationandpriceindices?ref=blog.heygrand.com) (ONS). First print after the Iran-related energy shock washes through; feeds into 18 June MPC.
- 23 May —[ ONS retail sales April 2026](https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/latest?ref=blog.heygrand.com) (ONS). Material for non-essential retail and hospitality propagation read after Barclays card-spending YoY decline.
- Late May —[ FLA April 2026 statistics](https://fla.org.uk/research/?ref=blog.heygrand.com) (Finance & Leasing Association). After the strong March print, the April release will test whether the trajectory holds.
- 10–11 June —[ 6th FECMA Pan-European Credit Management Congress](https://www.cicm.com/ems-event-calendar/the-6th-fecma-pan-european-credit-management-congress.html?ref=blog.heygrand.com) (FECMA / CICM, Crowne Plaza London Docklands). 40th anniversary year; CICM-affiliated practitioner gathering.
- 10 June —[ NACFB Commercial Finance Expo](https://nacfb.org/?ref=blog.heygrand.com) (NACFB, Birmingham NEC). Broker-channel temperature read.
- 17 June — FCA CP26/15 consultation closes (FCA). Industry response window on outcomes-based CONC 3 promotions reform.
- 18 June —[ BoE MPC decision](https://www.bankofengland.co.uk/monetary-policy/upcoming-mpc-dates?ref=blog.heygrand.com) (Bank of England). Pricing currently implies hold at 3.75%; Iran-driven inflation pass-through is the swing factor.
- 23–25 June —[ Credit Strategy Credit Week 2026](https://www.creditstrategy.co.uk/events?ref=blog.heygrand.com) (Celtic Manor Resort). Credit Awards, Leadership Awards, Credit 500, Partnership 100 — flagship UK credit-and-collections gathering.
- 29 June —[ BoE Money & Credit May 2026](https://www.bankofengland.co.uk/statistics/money-and-credit/?ref=blog.heygrand.com) (Bank of England). Next directional read on corporate lending availability.
- 1 July — BNPL TPR window closes (FCA). Register-or-exit deadline for in-scope firms.
- 15 July —[ BNPL formal regulation live (FCA Deferred Payment Credit)](https://www.fca.org.uk/firms/buy-now-pay-later?ref=blog.heygrand.com) (FCA). Front-loaded compliance work continues to land in checkout economics.
- 11 November —[ BDLA 2026 Annual Conference](https://bdla.org.uk/?ref=blog.heygrand.com) (Bridging & Development Lenders Association). Year-end specialist real-estate finance gathering.

---

### Sources

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2. [UK Finance — Plan for Growth](https://www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/plan-growth-strategy-delivery?ref=blog.heygrand.com)
3. [Financial IT — UK Confirms Start Date for BNPL Regulation](https://financialit.net/news/payments/uk-confirms-start-date-bnpl-regulation?ref=blog.heygrand.com)
4. [FCA / BoE / HMT — Joint statement on frontier AI models and cyber resilience](https://www.bankofengland.co.uk/news/2026/may/boe-fca-and-hm-treasury-joint-statement-on-frontier-ai-models-and-cyber-resilience?ref=blog.heygrand.com)
5. [Credit Connect — FLA March 2026 statistics](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
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10. [Credit Connect — Recession fears among UK SMEs hit two-year high](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
11. [Yahoo Finance — UK mortgage rates after Iran ceasefire](https://finance.yahoo.com/?ref=blog.heygrand.com)
12. [Credit Connect — Barclays card-spending data](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
13. [Premium Credit — SME Insurance Index 2026](https://www.premiumcredit.com/news-and-insights?ref=blog.heygrand.com)
14. [Small Business Commissioner — King's Speech late-payment measures](https://www.smallbusinesscommissioner.gov.uk/?ref=blog.heygrand.com)
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16. [ONS — GDP first quarterly estimate, UK: January to March 2026](https://www.ons.gov.uk/economy/grossdomesticproductgdp?ref=blog.heygrand.com)
17. [ONS — Construction output in Great Britain, March 2026](https://www.ons.gov.uk/businessindustryandtrade/constructionindustry?ref=blog.heygrand.com)
18. [Insolvency Service — Company Insolvencies April 2026](https://www.gov.uk/government/statistics/company-insolvencies?ref=blog.heygrand.com)
19. [FCA — New appointments to executive team](https://www.fca.org.uk/news/press-releases/fca-announces-new-appointments-executive-team?ref=blog.heygrand.com)
20. [FCA — CP26/15: Reviewing financial promotions rules for consumer credit](https://www.fca.org.uk/publications/consultation-papers/cp26-15-reviewing-financial-promotions-rules-consumer-credit?ref=blog.heygrand.com)
21. [Motor Trader — FCA defends motor finance redress scheme](https://www.motortrader.com/?ref=blog.heygrand.com)
22. [FSB — Small Business Index Q4 2025](https://www.fsb.org.uk/resources-page/small-business-index.html?ref=blog.heygrand.com)
23. [Credit Protection Association — CBI retail index](https://www.creditprotectionassociation.co.uk/?ref=blog.heygrand.com)
24. [Bibby Financial Services — SME Confidence Tracker Q1 2026](https://www.bibbyfinancialservices.com/knowledge-hub/reports/sme-confidence-tracker?ref=blog.heygrand.com)
25. [BTG Consulting / Begbies Traynor — Red Flag Alert Q1 2026](https://www.btgglobaladvisory.com/insights/red-flag-alert?ref=blog.heygrand.com)
26. [Registry Trust — Commercial judgments 2025](https://registry-trust.org.uk/?ref=blog.heygrand.com)
27. [Bank of England — April 2026 MPC Minutes](https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes?ref=blog.heygrand.com)
28. [Bank of England — Catherine Mann speech](https://www.bankofengland.co.uk/speech/speeches-by-date?ref=blog.heygrand.com)
29. [Bank of England — Sam Woods speech](https://www.bankofengland.co.uk/speech/speeches-by-date?ref=blog.heygrand.com)
30. [Bank of England — Distributed Ledger Technology Report](https://www.bankofengland.co.uk/paper/2026/distributed-ledger-technology?ref=blog.heygrand.com)
31. [EY — ITEM Club Bank Lending Forecast 2026](https://www.ey.com/en%5Fuk/newsroom?ref=blog.heygrand.com)
32. [Bloomberg — Debt funds and UK real-estate lending](https://www.bloomberg.com/?ref=blog.heygrand.com)
33. [CPA — Spring 2026 construction forecast](https://www.constructionproducts.org.uk/news-media-events/news/?ref=blog.heygrand.com)
34. [ConstructUK — April 2026 Construction PMI](https://www.constructuk.com/?ref=blog.heygrand.com)
35. [Build UK — Construction-sector reactions to King's Speech](https://builduk.org/?ref=blog.heygrand.com)
36. [BRC / CBI — Retail sales monitors, April 2026](https://www.cbi.org.uk/media-centre/?ref=blog.heygrand.com)
37. [BDLA / The Intermediary — Bridging Market Survey with Interpath](https://bdla.org.uk/?ref=blog.heygrand.com)
38. [UK Finance — Monthly Economic Review May 2026](https://www.ukfinance.org.uk/data-and-research/economic-insight/monthly-economic-review-may-2026?ref=blog.heygrand.com)
39. [Credit Connect — Scottish business distress rises 49.5%](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
40. [Crowdfund Insider — UK SME lending application-rate context](https://www.crowdfundinsider.com/?ref=blog.heygrand.com)
41. [Credit Connect — Remortgage searches fall 32%](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
42. [Lloyds Banking Group — Group Executive Committee](https://www.lloydsbankinggroup.com/who-we-are/group-overview/group-executive-committee.html?ref=blog.heygrand.com)
43. [The Intermediary — Shawbrook consolidates unsecured SME lending under Playter](https://theintermediary.co.uk/?ref=blog.heygrand.com)
44. [Investegate — Shawbrook Q1 2026 Trading Update](https://www.investegate.co.uk/?ref=blog.heygrand.com)
45. [iwoca — Business credit card launch](https://www.iwoca.co.uk/news/?ref=blog.heygrand.com)
46. [FinTech Futures — Wayflyer $250m credit facility](https://www.fintechfutures.com/?ref=blog.heygrand.com)
47. [Bank of England — Money and Credit, April 2026](https://www.bankofengland.co.uk/statistics/money-and-credit?ref=blog.heygrand.com)
48. [British Business Bank — Elliptic Series D](https://www.british-business-bank.co.uk/news-and-events/news?ref=blog.heygrand.com)
49. [British Business Bank — NPIF II two-year retrospective](https://www.british-business-bank.co.uk/news-and-events/news?ref=blog.heygrand.com)
50. [Credit Connect — Insolvency Service board appointments](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
51. [NatWest Group — Retail Banking leadership additions](https://www.natwestgroup.com/news-and-insights.html?ref=blog.heygrand.com)
52. [Credit Connect — Dudley Building Society appoints Helen Smith](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
53. [OakNorth Bank — CFO appointment](https://www.oaknorth.co.uk/newsroom/?ref=blog.heygrand.com)
54. [Allianz Trade UK — UK insolvency forecast 2026](https://www.allianz-trade.com/en%5FGB/news-insights.html?ref=blog.heygrand.com)
55. [Allianz UK Commercial — senior leadership team changes](https://www.allianz.co.uk/news-and-insight.html?ref=blog.heygrand.com)
56. [Insider Media — R3 names new Yorkshire chair](https://www.insidermedia.com/?ref=blog.heygrand.com)
57. [Credit Connect — FRP Advisory appoints Stuart Bates](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
58. [Credit Connect — Leonard Curtis appoints Liam Griffin](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
59. [Credit Connect — GC Business Finance appoints Aaron Malins](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
60. [Credit Connect — New CIVEA President](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
61. [Credit Services Association — board directors](https://www.csa-uk.com/news?ref=blog.heygrand.com)
62. [NACFB — 2026 board appointments](https://nacfb.org/news/?ref=blog.heygrand.com)
63. [NACFB — broker membership tops 1,400 firms](https://nacfb.org/news/?ref=blog.heygrand.com)
64. [Atradius / Coface — UK insolvency 2026 forecasts](https://group.atradius.com/press/?ref=blog.heygrand.com)
65. [Construction Leadership Council / BMF / CPA — construction trade-body commentary](https://www.constructionleadershipcouncil.co.uk/news/?ref=blog.heygrand.com)
66. [Credit Connect — Concentrix and Flexys partnership](https://www.credit-connect.co.uk/news/?ref=blog.heygrand.com)
67. [Cifas — Fraudscape 2026](https://www.cifas.org.uk/newsroom?ref=blog.heygrand.com)
68. [Cifas — Workplace Fraud Trends 2026](https://www.cifas.org.uk/newsroom?ref=blog.heygrand.com)
69. [Small Business Commissioner — Fair Payment Code Awardees](https://www.smallbusinesscommissioner.gov.uk/fpc/code-criteria/?ref=blog.heygrand.com)
70. [Build UK — Construction Sector Payment Performance](https://builduk.org/priorities/improving-business-performance/duty-to-report/payment-performance/?ref=blog.heygrand.com)
71. [FCA — Supporting customers through challenging times](https://www.fca.org.uk/news/blogs/support-customers-challenging-times?ref=blog.heygrand.com)
72. [FCA — Working together against financial crime speech](https://www.fca.org.uk/news/speeches?ref=blog.heygrand.com)
73. [FCA — Investment firms supporting bereaved customers review](https://www.fca.org.uk/news/news-stories?ref=blog.heygrand.com)
74. [FCA — Frank Breuer pension transfer advice ban](https://www.fca.org.uk/news/news-stories?ref=blog.heygrand.com)
75. [FCA — Nikhil Rathi speech](https://www.fca.org.uk/news/speeches?ref=blog.heygrand.com)
76. [FCA — Restrictions on Kingscrown Finance Limited](https://www.fca.org.uk/news/news-stories?ref=blog.heygrand.com)
77. [Funding Circle — 2025 Economic Impact Report](https://www.fundingcircle.com/uk/resources/business-finance/impact-report-2026/?ref=blog.heygrand.com)
78. [Alternative Credit Investor — SME Expert Index Q1 2026](https://alternativecreditinvestor.com/?ref=blog.heygrand.com)
79. [Financial Times — Lendable 2025 profits](https://www.ft.com/?ref=blog.heygrand.com)