The Bibby Financial Services Group has announced the roll out of a new service offering to add to the list of products already on offer by the Group.
The new product - TradeFac - will focus on delivering a single product offering to UK businesses, which combines the benefits of both their factoring and trade finance facilities. Suitable clients will be those businesses that have a regular need for trade finance and the ongoing flexibility of factoring.
Trade Finance essentially provides upfront funding to help businesses buy goods where they have confirmed orders from customers. Whereas factoring provides an ongoing source of funding which releases up to 85% of the value of sales invoices as they are raised.
