Bibby Financial Services Increase SME Funding

 

Hello all. Andrew Darling here.

As we enter December, Christmas decorations are slowly but surely starting to appear in windows around the country and de-icer is again on sale, so we’re officially on the path to Christmas. Christmas is often a busy time for Bibby Financial Services as many of our clients see orders increasing.

That said, as a business we’ve had a consistently busy year all round, with the launch of our TV advert on Sky TV in May, the introduction of our mid-market promotional offer in September and a record breaking month in August. In fact, the whole of Q3 was strong and from July to the end of September this year, we boosted funding to UK PLC from £392m to £415m, representing a 5.8 per cent increase in just three months.

Alternative finance as a whole has also seen an increase this year, with funding provided by asset based finance providers reaching a record £18.9bn in the second quarter of the year – according to the Asset Based Finance Association.

Looking ahead to 2015, most commentators agree that economic conditions are somewhat unpredictable and unstable at the moment at that this is likely to continue – perhaps until after the general election in May.

What is clear, however, is that SMEs are becoming more aware of the range of funding options available to them and are increasingly less reliant on traditional forms of finance. As a result of this, many of the country’s most ambitious businesses are looking to providers such as Bibby Financial Services to provide cashflow for growth.

For more information about Bibby Financial Services and our cashflow solutions, visit: www.bibbyfinancialservices.com or call 0800 91 95 92.

About the Author

Having worked in financial services for over 36 years, Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions. He currently manages the development of business with higher turnover companies at Bibby Financial Services, specialising in corporate finance for businesses with turnover of £5 million or more.

ShareShare on FacebookShare on Google+Email this to someoneTweet about this on TwitterShare on LinkedIn