Independent invoice financier, Bibby Financial Services (BFS), provided £40m in new funding to corporate businesses throughout June.
In a record month, BFS’s corporate team structured several high profile transactions, including a £9m refinance package for Currie European Transport, a transport and storage solutions group, and a £4m invoice discounting facility for a £54m turnover healthcare and environmental hygiene business.
Ben Smith, corporate sales director for BFS, said: “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 asset-based lending facilities offer, which is now more important than ever as the economy begins its road to recovery following lockdown.”
The Bibby Corporate team was formed in 2013 and is responsible for structuring funding facilities for business with turnover between £5m and £100m across a range of asset-based lending solutions.
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 buyouts, refinancing, corporate restructuring and mergers and acquisitions.
Edward Winterton, chief executive UK at BFS, said: “During this challenging economic period businesses need to be able to access funding for growth. Our corporate team is a vital resource for business owners searching for funding directly, through their accountants, advisory professions and other intermediaries looking to help their clients grow.
“We have developed our corporate capability significantly in recent years to include stock finance, foreign exchange, cash flow lending and asset finance. This allows our clients to unlock the working capital they need under one roof so they can grow in domestic and international markets, both now and in the future.”
Bibby Financial Services, formed in 1982, is an independent financial services company providing specialist trade, asset and working capital finance. BFS is part of the Bibby Line Group (BLG).