News Article

Factoring & Invoice Discounting

New Flexidraft solution gives SMEs a refreshing new way of funding business

By CreditMan Thursday, November 8, 2012

The UK’s leading independent invoice finance provider is responding to the demand from small and medium-sized businesses for more flexible funding solutions, as new research suggests too many SMEs are unable to access funding.

Business owners are in fact relying on unsustainable forms of finance such as loans from families and friends, prompting Bibby Financial Services to launch Flexidraft – an entirely unique, new approach to business funding enabling users to access cash as and when they need it.

The findings reveal fewer and fewer small and medium-sized businesses are now applying for external funding. In the third quarter of 2012, 60 per cent of the firms surveyed by Bibby Financial Services said they had not applied for any external finance in the past 12 months, which suggests a greater variety of funding options are needed to help support businesses.

Recognising the need for more sustainable and flexible streams of finance, Bibby Financial Services’ new Flexidraft funding solution will provide firms with quick access to the cash they need with straight forward charging making it much easier to use.

At the same time SME owners will retain control over their finances, providing the freedom to run and grow their business.
Andrew Dixon, Bibby Financial Services New Product Director, says: “We are the first provider to offer this kind of facility which is quick and easy to set up and can provide instant access to cash by simply transferring funds online from the clients Flexidraft account directly into their bank account.

“Small and medium-sized businesses need more and faster support from traditional and alternative lenders. New and innovative solutions such as Flexidraft will be vital to ease the pressure on the banks and traditional lending methods.

“Being an independent funding provider means we are able to deliver flexible solutions such as Flexidraft, which make a significant difference to small and medium-sized businesses which have been overlooked.

“Operating as a trusted choice for companies of all sizes and sectors for almost three decades, we remain committed to championing the cause of SMEs in the UK.”

Flexible working capital solutions, such as Flexidraft, are designed to provide a straightforward method for businesses owners to obtain funding.