Specialist invoice financier Bibby Financial Services has unveiled a new funding initiative aimed specifically at businesses with a turnover of between £250,000 to £1 million.

The offering is designed to meet demand in the market for a single fee structure and reduced contract period, helping those businesses which may not have used invoice finance services before or are unsure of committing to a long-term agreement.

The initiative, which will run until the 31 December 2010, will allow businesses to gain instant access to cash tied up in unpaid invoices. The minimum contract period for the offering will be six months, with a fee structure based on company turnover.

Edward Rimmer, UK chief executive, Bibby Financial Services, said: “We’ve launched the initiative in response to feedback we’ve received from prospective clients in the £250