CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Bibby Financial Services boosts business funding in best month since 2012
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Bibby Financial Services boosts business funding in best month since 2012 PDF Print E-mail
Monday, 18 July 2016
Bibby Financial Services (BFS), the UK’s largest independent invoice finance company, has announced that June was its best month on record since August 2012, as the specialist funder welcomed over 130 new clients, advancing more than £430m to businesses. 

Global Chief Executive, David Postings said: “This is a fantastic result for us and demonstrates that we’re very much open for business at a time when SMEs need support to drive their businesses forward.”

Performance in June was driven by strong growth in factoring, in addition to a steady flow of funding agreements for Forward Finance, BFS’ product for businesses with turnover of up to £300,000.

“Our teams across the country had a fantastic month and we have seen particular growth in factoring, trade finance and our smaller business product Forward Finance. Deals have been bolstered by direct sales, in addition to a strong pipeline of introduced business so I’d like to thank our intermediary partners for their ongoing support”, Mr Postings added.

The results come in the wake of wide-spread reports of declining SME confidence and a potential funding gap, following the UK’s vote to leave the EU on 23 June 2016.

Mr Postings continued: “There’s clearly some uncertainty in the market following the UK’s vote to leave the EU, but what we need now is clarity and pragmatism. UK SMEs are resilient and many have put plans in place for either event.

“What is clear is that asset based funders are best placed to help SMEs to plan for the future and take advantage of opportunities that arise.”

In 2015, BFS announced its global Focus and Grow strategy, which aims to help the funder achieve a balanced portfolio by prioritising investment in key markets around the world.

Mr Postings concluded: “It is very much business as usual for us and we will continue to support SMEs, wherever they are, through our relationship-based approach and specialist funding solutions.”

Part of the 208-year-old family business, the Bibby Line Group, BFS supports 9,500 SMEs globally through its range of funding options. Its financing solutions include Invoice Discounting, Factoring, Trade, Export Finance and Foreign Exchange.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197