Invoice Finance provider, Bibby Financial Services Ireland has announced details of €70 million in working capital facilities available for Irish businesses through invoice finance. This represents a 70% increase on its 2014 credit facility.
Bibby said its decision to make increased credit available this year follows strong evidence of improved economic conditions and demands for alternative sources of finance. Ronan Horgan, Managing Director of Bibby Financial Services Ireland, commented, “More and more Irish businesses are opting for alternative sources of financing like invoice finance to fund their businesses as it offers more flexible options for growth.”
More than 2,000 companies availed of invoice finance in Ireland in 2014, according to statistics from the Asset Based Finance Association (ABFA). Bibby reports that the majority of its customers require capital support from €100,000 to €5 million.
© 2014 - Checkout Magazine by Jenny Whelan.