Bibby Financial Services boosts SME funding in Scotland by a quarter
SME financier, Bibby Financial Services (BFS), has increased its funding to Scottish businesses by a quarter, as it looks to bolster its funding in the country.
BFS is the largest independent invoice finance provider in the UK, with offices in Glasgow and Edinburgh. From November 2014 to November 2015, the specialist funder increased funding to businesses in Scotland from £22.7m to £28.5m.
Alan Anderson, head of sales for BFS Scotland, said:
“SMEs in Scotland tell us that they’re looking for funding to grow and many of them are now looking beyond traditional lending-channels. I’m delighted that we have been able to increase our support to SMEs throughout the country and look forward to helping more businesses in 2016.
“In addition to an increase in our traditional invoice finance offerings, in 2015 we have also seen significant growth in our specialist products, including export and trade finance and construction finance.”
BFS opened a new office on St Vincent Street, Glasgow, in December 2014.
In November, the funder announced that it is to commit upwards of £770m in funding to UK SMEs, following a successful refinancing deal.
Alan concluded:
“We are committing funds of over £770m to UK PLC. This is fantastic news for all SMEs, including those in Scotland.”
