Bibby secures €250m HSBC UK facility to expand SME funding

Bibby Financial Services (BFS) has secured a €250 million funding facility from HSBC UK to expand its support for small and medium-sized businesses across Europe and Asia.

The new agreement extends the long-standing partnership between the two organisations and provides back-to-back receivables financing across seven jurisdictions. The facility will enable BFS to maintain more than £1.1 billion of funding capacity, helping SMEs access the working capital needed to invest, trade and grow.

As part of the expanded relationship, Bibby Financial Services will also benefit from HSBC’s Global Trade Solutions team, which includes more than 150 working capital specialists operating across 50 countries and territories, providing expertise to support businesses trading internationally.

Theo Chatha, Chief Financial Officer at Bibby Financial Services, said the agreement comes at a time when businesses continue to face challenging economic conditions.

“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, said: “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.”