Bibby Financial Services (BFS) has renewed its core securitisation facility in a deal that extends its funding capacity for a further three years, bolstering the specialist lender’s ability to support UK SMEs with working capital finance.
The multi-million pound agreement sees continued support from a syndicate of lenders including Lloyds Bank, HSBC UK, Bayern LB, and funds managed by Insight Investment.
Theo Chatha, chief financial officer of BFS, said: “Amid a combination of stubborn inflation, energy prices and tariffs friction, the cost-of-doing-business remains a real concern for SMEs across the country. This agreement provides BFS with significant capacity to help UK businesses access the cashflow they need to overcome these challenges, enabling them to grow and thrive.”
The deal extends a long-standing securitisation programme that has been in place for over a decade. Lloyds Bank, which has supported the arrangement since its inception, reaffirmed its commitment to the SME sector through its continued participation.
Michael Hodgson, managing director and head of corporate in the securitised products group at Lloyds, said: “Bibby Financial Services is a long-standing client and we are proud to have supported the business since the securitisation was established a decade ago. Our continued backing, through this new three-year refinancing of the company’s core funding facility, is testament to Lloyds’ commitment to providing securitised funding to the SME sector.”
Founded in 1982, BFS provides invoice finance, asset finance and foreign exchange services to around 8,500 small and medium-sized businesses across Europe and Asia. The business employs 1,000 staff and operates as part of Bibby Line Group, the 218-year-old family-owned conglomerate.
The refinancing follows the UK government’s recent call for evidence on small business access to finance, which closed on 8 May. The initiative, led by the Department for Business and Trade, aimed to gather insight into the barriers SMEs face in securing funding and to explore potential policy responses.
Chatha added: “SMEs play a vital role in driving economic growth, and more than ever, these businesses need access to flexible working capital solutions to manage day-to-day expenditure, and to plan for growth.
“Amid the closure of the government’s call for evidence of small business access to finance, we’re delighted to announce our refinanced facility. This transaction provides us with significant headroom to support new and existing customers in 2025 and beyond.”
