CCR Magazine

You are here  :Home arrow News arrow BFS extends its funding capabilities for mid-market firms
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
BFS extends its funding capabilities for mid-market firms PDF Print E-mail
Wednesday, 30 August 2017
The UK’s largest independently owned invoice finance provider, Bibby Financial Services (BFS), has increased its funding for mid-market businesses by agreeing a new three year, £50m bi-lateral facility with Royal Bank of Scotland Invoice Finance (RBSIF). 

This facility sits alongside, and in addition to, the existing UK securitisation facility of £630m which BFS agreed with Barclays Bank PLC – Corporate Banking and Investment Banking, Bank Of America Merrill Lynch, HSBC Bank PLC and Lloyds Bank back in November 2015. This facility was recently extended until the end of March 2020.

David Postings, Global Chief Executive for BFS, says the new bi-lateral facility will continue and extend the funder’s support for businesses in the £5m+ turnover market.

Mr Postings said: “Our focus on supporting and funding the UK’s SMEs remains undented. Mid-market businesses with a turnover £5m+ have been a real area of growth for BFS. We have increased funding for mid-market businesses by 12% over the past year as we have concentrated our expertise on this segment. Our long term securitisation and bi-lateral facilities are testament to the commitment we have made to ensure that UK businesses have the funding they need that will unlock their businesses’ potential.”

As a result of this bi-lateral facility, BFS has now committed funds of £900m to UK SMEs. The facility will also enable BFS to support a wider asset based lending (ABL) product providing funding against inventory and accounts receivable, as well as allowing the funding of non-UK debt.

“Uncertainty over the future direction of the UK economy is hampering businesses’ ability to plan and execute their long term business plans. Through this facility we are able to provide mid-market businesses with security of funding, especially those that trade and incur non-UK debt, therefore helping UK plc to go to the markets where they can exact the most growth.”

The facility was arranged by RBSIF and will last until 2020.

Andy Pickford, Development Director at RBSIF also commented: “We are delighted to be supporting BFS with this additional facility, which in turn will support an important segment of the UK MME market. Bibby Line Group and BFS have both been long standing customers of RBS, and we are pleased to have been mandated to provide this new facility.”
 

 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

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