Bibby Financial Services has agreed a €250 million funding facility with HSBC UK to increase its support for small and medium-sized businesses across Europe and Asia.
The agreement extends the existing partnership between the two organisations and will provide back-to-back receivables financing across seven jurisdictions.
Bibby Financial Services said the facility will help it maintain more than £1.1 billion of available funding capacity, enabling it to continue supporting SMEs seeking working capital to fund growth.
As part of the arrangement, the lender 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 (pictured), chief financial officer at Bibby Financial Services, says: “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, adds: “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.”
