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Stories Tagged ‘Bibby’

It is interesting to see certain invoice finance providers now using specialist departments to deal with businesses that operate in the construction sector.

In part this is really good news for businesses that are definitely a part of the construction sector. If they are very much entrenched in contractual debt, applications for payment and stage payments then a lot of businesses would not have a suitable cash flow solution. Now they at least have an option albeit an expensive one with low prepayments. That said it is probably structured and priced according to risk although part of me feels in some instances lenders are taking advantage where they feel they are the only lender willing to assist.

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Bibby Financial Services have acquired the book of invoice factoring company Aston Rothbury. It is understood that Bibby have absorbed this book into their very successful office in Hastings.

In terms of client numbers we have heard that it was only 40 clients.

The same Bibby office also acquired the Arbuthnot office last year but some of the staff have since left and set up Innovation Finance.