Elite lines up £3m deal with Bibby

HAULIER Elite Transport Services has secured a £3m factoring deal with Bibby Financial Services.

Manchester-based Elite refinanced with Bibby after its previous, unnamed lender, withdrew credit.

In a statement Bibby said the facility was designed to increase cashflow and relieve cost pressures at the £18m turnover firm.

Business owner David White said: “We were looking for finance to support the business and we needed a deal within ten days in order to meet demands from creditors.
 
“Bibby Financial Services was able to come through in 10 days, which really helped our business as it meant we could stabilise the situation and reassure creditors that our finances were on a sound footing.”