Bibby Financial Services has announced it will now offer funding to UK businesses under the Small Firm Loan Guarantee scheme.
With support from the Department of Trade and Industry (DTI), Bibby said it will now offer loans of between £25,001 and £250,000 over a repayment period of between two and five years to small and medium-sized businesses that are unable to obtain conventional bank loans because of a lack of necessary security.
The Small Firm Loan Guarantee is available to businesses using one of Bibby Financial Services’ asset-based funding solutions.
“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,” said David Robertson, chief executive of Bibby Financial Services.
“What’s more, failure to generate sufficient funds means many potentially sound businesses find it difficult to grow to the next level.
“Being able to offer the Small Firms Loan Guarantee to clients provides us with an even more comprehensive portfolio, meaning small and medium-sized businesses have even greater access to a wider range of funds to help them grow and flourish.”
