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Bibby Financial Services (BFS) has been accepted as an approved lender under the
Small Firm Loan Guarantee Scheme, which enables the company to provide
guaranteed loans to clients who are considering or using one of BFS’ other
asset- based funding solutions.
The scheme, backed by the Department of Trade and Industry (DTI), aims to assist
small and medium-sized businesses unable to access conventional bank loans due
to the lack of necessary security, by offering loans of between £25,001 and
£250,000 over a repayment period of between two and five years.
David Robertson, chief executive of BFS, commented: “With recent research
finding nearly one in four entrepreneurs experience problems raising finance,
it’s clear that funding business ventures can be a stressful and time consuming
experience.
"What’s more, failure to generate sufficient funds means many potentially sound
businesses find it difficult to grow to the next level.
“We are therefore delighted to be one of the few independent invoice and asset
finance providers able to offer the Small Firms Loan Guarantee, giving financial
professionals another powerful funding tool for clients and to help
entrepreneurs turn their business dreams into reality.”
“Offering the Small Firms Loan Guarantee to clients using or considering other
BFS products provides us, with an even more comprehensive portfolio. Ultimately,
this means clients have even greater access to a wider range of funds to help
them grow and flourish.”
Source:
Credit
Control Journal
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