Many businesses have suffered over the last few years through lack of available funding from traditional sources such as the high street banks at the time when they needed it most.
At SBF we have continued to lend, and grow both our client base and lending book with our “open for business” policy.
This has not only assisted new businesses, caught up in the bank credit crunch and who were looking for a friendlier and more flexible alternative, but also making sure our existing client base had sufficient funding lines to trade through their difficulties and fund opportunities presented.
It is no secret that during previous recessions more businesses failed coming out of recession than actually during the recession. This time is turning out to be no different. The liquidity issues caused by the tightening of banks credit policies and reducing their exposures to certain sectors has caused a vacuum, which we have been working hard to fill with invoice factoring, invoice discounting and Enterprise Finance Guarantee Loans.
As a subsidiary of the Skipton Group, a mutual organisation, our ethos is centred on creating wealth and jobs in the regions and therefore we are very active in the turnaround and restructure markets, which many institutions seem to shun.
We are happy to use restructuring professionals and financial consultants to help put sensible strategies in place for both existing and new clients.
SBF is highly proactive in supporting its clients and if this means going through some form of insolvency process such as a CVA or Administration, then we are happy to fund through the process in order to retain value in the business and then assist in preserving jobs by providing funding to any new business coming out the other end.
It’s all about relationships and I would like to think our clients have a strong enough relationship to feel comfortable talking though potential issues with us before they become critical. That way we can all sit down and put a realistic plan in place.
No one wants to lose clients, especially when there may have been something we could have done to help, and clients should feel confident that they can approach their financier without worrying that they will pull the rug from under their feet.
This is really what the SBF Factor is all about!