Bibby Financial Services

Why Bibby Financial Services?

Bibby has been a trusted choice of companies of all sizes and sectors for over 27 years and here’s why:

  • Currently helping nearly 4,000 businesses across UK

  • Handle an annual client turnover of more than £3.9 billion

  • Providing funding of around £342 million to help UK businesses

  • Independent of the banks – which allows them to deliver flexible funding decisions quickly and efficiently

What services do Bibby offer?

1. Invoice Finance

Invoice Finance provides funding against the sales ledger of a business, providing both an immediate cash injection and an ongoing supply of working capital. By providing a percentage of the value of the invoices upfront, invoice finance can ease the cash flow worries of a business by bridging the gap between raising an invoice and getting paid.

Companies eligible for Invoice Finance:

  • Any company that deals business to business, not with the general public.

  • The customer must be invoicing in arrears and putting their customers on payment terms (e.g. 30 days/60 days)

  • They sell to their own customer and don’t act as an agent.

Client Types:

Industry types:

  • Distribution – haulage, couriers, freight forwarding, warehouse and storage

  • Wholesale and merchants

  • Manufacturing

  • Engineering

  • Construction

  • Recruitment

  • Printing

  • Cleaning services

  • IT

2. Flexidraft

Flexidraft is a new and simple funding solution, designed to help your business access the cash it needs to run, develop and grow. As a flexidraft customer, you benefit from immediate and ongoing funding for your changing business needs. You can access up to 50% of the value of your sales ledger up to a maximum of £100,000.

Flexidraft can provide:

  • Immediate and ongoing funding - generating more cash for your business against the value of your sales ledger.
  • Quick access to cash - the process is quick and simple and Bibby can have your facility up and running in a matter of days.
  • A secure form of funding - the funding received is based on the value of your sales ledger - providing you just the amount you need, as and when you need it.

How much does it cost?

Bibby charge a £500 arrangement fee and debit interest is calculated on use at 1.5% per month. If you borrow £25,000 based on 50% of the value of your sales ledger - at a monthly rate of 1.5% it will cost you £369.86.

There are no minimum monthly fees.

How does it work?

Bibby will set up a trust account in the name of your business. Your sales go through the trust account and you transfer money online from the trust account into your bank account as required.

Contact us today to discuss your funding needs and we will happily arrange and attend a meeting with Bibby to get the correct facility for your business.

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