Bibby Financial Services set astonishing new monthly funding record

Bibby Line Group // 23rd July 2020

In June, the BFS Corporate team provided an astonishing £40m in new funding facilities to corporate businesses as they continue to grow their support for larger SMEs, and support the economy to get back on its feet following lockdown.

In a record month, the team structured several high profile transactions, including a £9m refinance package for Currie European Transport Ltd, a transport and storage solutions group, and a £4m invoice discounting facility for a £54m turnover healthcare and environmental hygiene business. 

Corporate Sales Director, Ben Smith said: “The Corporate team had a fantastic month in June and we have a strong pipeline of new business for July and August. These record results demonstrate that we’re not only ‘‘open for business’’, but that we’re doing business and hungry to do more to support UK PLC.” 

“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 ABL facilities offer, which is now more important than ever as the economy begins its road to recovery following lockdown.” 

Formed in 2013, our Corporate team 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 buy outs, refinancing, corporate restructuring and mergers and acquisitions. 



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