Banbury-based independent invoice financier, Bibby Financial Services (BFS), provided £40 million in new funding facilities to corporate businesses throughout June as it continues to grow its support for larger SMEs.
In a record month, BFS’s Corporate team structured several high profile transactions, including a £9 million refinance package for Currie European Transport Ltd, a transport and storage solutions group, and a £4 million invoice discounting facility for a £54 million turnover healthcare and environmental hygiene business.
BFS Corporate Sales Director, Ben Smith said: “The Corporate team had a fantastic month in June and we have a strong pipeline of new business for July and August. These record results demonstrate that we’re not only ‘‘open for business’’, but that we’re doing business and hungry to do more to support UK PLC.”
“Corporate clients tell us they welcome finance solutions that offer an alternative to loans, enabling them to unlock working capital from within their businesses, without having to take on further term debt. This alternative is exactly what our invoice finance and ABL facilities offer, which is now more important than ever as the economy begins its road to recovery following lockdown.”
Formed in 2013, BFS’s Corporate team structures funding facilities for businesses with turnover between £5m and £100m across a range of asset based lending. The team helps businesses to unlock working capital for a range of scenarios, including cashflow funding, new equipment purchase, growth and expansion, management buy ins and buy outs, refinancing, corporate restructuring and mergers and acquisitions.