Bibby Financial Services has extended its promotional offer for businesses with turnover of £500,000 to £1.5 million, to enable referrals from intermediaries to qualify.
As part of the promotion, which is available until 31 December, the funder will waive set-up charges and standard fees payable for one month, in addition to providing a flexible one month rolling contract thereafter.
Initially launched as a trial on 1 September through the funder’s website and telephony channels, the special terms are available to introduced business as of 1 October. The offer applies to Bibby Financial Services’ invoice finance solutions, including factoring and invoice discounting facilities.
David Postings, Bibby Financial Services’ chief executive, said: “We have had a good response to the offer throughout September, and the businesses we have spoken with have talked of the flexibility it provides.
“We value the relationships we have in place with our intermediary network and I believe extending the terms of the offer to this important channel will make our funding solutions more attractive to their clients – particularly those who are new to invoice finance.”
The independent funder carried out research in August among 1,000 businesses which showed that one in five owners believe their current arrangement is inflexible, with a third looking to switch providers this year.
Postings said: “Many businesses believe their existing funding agreements are too rigid, and a significant number are considering the use of other forms of finance.
“We want to be the funder these businesses turn-to when seeking this flexibility, which is why we have created an offer, which includes a rolling monthly agreement, no set-up costs and one month free of standard fees.”