Banbury-headquartered Bibby Financial Services has secured a €250 million funding facility with HSBC UK in a move designed to expand support for small and medium-sized businesses across Europe and Asia.
The agreement extends an existing partnership between the two organisations, providing back-to-back receivables financing and enabling Bibby Financial Services (BFS) to maintain more than £1.1 billion of available funding for SMEs operating in domestic and international markets.
The business says the facility will help companies access the working capital needed to invest and grow despite continuing economic pressures.
Alongside the funding arrangement, BFS will also gain access to HSBC’s Global Trade Solutions team, which includes more than 150 working capital specialists operating across 50 countries and territories.
Theo Chatha, Chief Financial Officer at Bibby Financial Services, said:
“Alongside global tensions and persistent inflation, access to flexible working capital remains a key challenge for businesses across Europe and in Asia.
“We are delighted to extend our partnership with HSBC, which provides us with significant capacity to ensure SMEs can access the funding they need to compete and grow.”
Bruce Richards, Head of Strategic Transactions, Global Trade Solutions at HSBC UK, added:
“Bibby Financial Services play a crucial role in enabling SME growth across the world and we’re delighted to be continuing our relationship.
“The new pan-Eurasian facility provides back-to-back receivables financing across seven jurisdictions and will enable BFS to continue to grow its support for small and medium sized businesses.
“We look forward to seeing the company build on its impressive 40-year track record of backing SMEs and creating opportunities for businesses around the world.”
Bibby Financial Services, headquartered at Banbury Business Park in Adderbury, near Banbury, has supported SMEs for more than 40 years.
The company works with more than 8,500 businesses worldwide through invoice finance, asset finance and foreign exchange solutions, employing around 1,000 people across Europe and Asia.
The business forms part of the Bibby Line Group, a family-owned company with a history spanning more than 200 years.
