Bibby Financial Services establishes small business fund

NORTH West-based Bibby Financial Services (BFS) has established a multi-million pound fund to support small businesses.

The Liverpool company, part of the Bibby Line Group, is targeting businesses with a turnover lower that £250,000.

It hopes that the finance will make it easier for firms to access the funding they need to stay afloat.

BFS also hopes that that the fund will assist them to grow their business.

The invoice finance offering includes one simple fee with no hidden extras, and short term contracts allowing businesses to access cash quickly and easily.

Up to £50,000 will be available against unpaid invoices for each business.

BFS’s chief executive Edward Rimmer said: “We recognise the future potential of smaller and newer, as well as longer-established, businesses, and hope this package will give vital support to help firms where Government funds such as the EFG haven’t been utilised as they should.

“This funding stream will go some way to boost the essential contribution of small firms to the UK economy.”