Edward Winterton

Bibby makes £220m available to UK SMEs

Bibby Financial Services (BFS) has structured 750 new funding agreements for SMEs and made £220m available to UK businesses in the first half of 2018.

The independent financial services provider has seen an 18% rise in deal numbers year-on-year, as well as a 71% increase in construction finance deals.

Export finance deals increased by 32%, while its trade finance, commercial and corporate divisions also experienced growth.

“In what remains a relatively flat market, we have had a tremendously strong first half of the year and we are seeing new applications for funding increasing significantly,” said Edward Winterton, CEO at Bibby Financial Services (pictured above).

“Undoubtedly, our strengthened product portfolio – which now includes ABL, stock finance and foreign exchange – has helped us to uncover more opportunities to support businesses both big and small. 

“Furthermore, we have had great success in combining our invoice finance solutions and FX services for businesses looking to protect margins and grow in international markets.”

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    Glenn Blackman

    Good to see significant numbers of new receivables financing clients being taken on - including substantial help for the construction sector.

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