Independent invoice finance provider Bibby Financial Services is to launch a new promotional offer for larger SMEs looking for funding support.
The new offer, which is available to businesses with a turnover of £500,000 to £1.5 million until 30 November, is in response to research carried out by Bibby Financial Services among 1,000 business owners who cited flexibility and good customer service among the top priorities for a funding supplier.
With the latest figures for the government Funding for Lending scheme revealing that lending to small and medium businesses dropped by £435m in the second quarter, the need for the right funding arrangement for SMEs is paramount, the firm said.
Now, new Bibby Financial Services customers who contact the invoice finance provider directly can take advantage of no standard fees payable for one month, and a flexible one month rolling contract thereafter. This applies to Bibby Financial Services’ invoice finance solutions, including factoring and invoice discounting facilities.
David Postings, UK CEO at Bibby Financial Services, said: “Having the right funding partner in place is key to a successful business plan and this means being able to deliver quality customer service on a number of levels. The best partnerships are built on understanding and flexibility, which is something we have always recognised at Bibby Financial Services.
“We’re committed to building long-term relationships with our customers. In fact, our longest standing client has been with us for over 25 years and our customer satisfaction rating is 91 per cent. However, we also understand that different types of funding are suitable for different businesses and that’s why we’re offering small and medium-sized businesses the chance to try our funding solutions on a flexible agreement.
“As part of this offer we will waive all setup costs and fees that are usually charged as part of an invoice finance agreement for the first month. We are confident that the service we offer is second to none and that businesses will choose to stay with us because of this. But if a business decides that invoice finance isn’t right for them, after the first month customers can cancel the arrangement at any time by giving just one months’ notice”, Postings added.