SME funder Bibby Financial Serviceshas provided more than £100m in funding in the North this year through its specialist corporate team, significantly boosting its commitment to support SMEs in the region.
BFS has supported corporate businesses across a wide range of sectors including recruitment, manufacturing, catering and retail. These northern-based businesses have used the funding to embark on the next stage of growth, manage cashflow and suppliers and entering new markets.
BFS’s corporate team supports business with a turnover above £5 million with asset-based lending solutions including trade, stock, invoice and asset finance as well as commercial mortgages and cashflow support.
Successful businesses that have received funding this year include: media advertiser, Open Outdoor Media and pharmaceutical wholesaler, Veenak International, and manufacturer, Thornhill.
Dan Burton, Regional Head of Corporate, at Bibby Financial Services, said:“As a business with northern heritage, we’re pleased to have helped even more fast-growing SMEs in this too often overlooked region. With Brexit looming, it is crucial we continue to invest in entrepreneurs and new businesses as well as support initiatives that fuel the Northern Powerhouse.
“It has been an exciting year at BFS, and our commitment to quickly understanding the needs of SMEs has allowed us to help ambitious businesses in this region thrive. It is vital that investors recognise the opportunities that northern SMEs provide for the wider community and economy. We are proud to work closely with so many of these successful businesses already.”