Skipton Business Finance has allocated £15million of cash to support owner-managed businesses across Merseyside, Cheshire and North Wales.
The UK’s leading invoice financier, who has offices in Bracknell, Manchester, Birmingham, Leeds and Skipton are to offer facilities worth £25k upwards to manufacturers, printers, hauliers and recruitment agencies as part of a programme to improve cashflow and spur growth in industries hard-hit by ingrained late payment culture.
The £15million fund, backed by parent Skipton Building Society, will look to fill the void left by a decrease in available bank credit despite government initiatives aimed at stimulating lending.
Sales and Marketing Director, Andy Grantham, commented: “Skipton Business Finance continues to show its dedication to the region and specifically those industries suffering the most from continuing economic uncertainty.”
Andy also said that his business share their parent company’s mutual ethos that spans over 150 years.
“Skipton Business Finance is part of the Skipton Group and we share our parent’s ethos in helping UK businesses create wealth and employment by actively promoting lending in what remains a challenging market.”
Speaking further about how this ethos is transferred into their business model, he continued: “Our credit policy is as much about the people behind the business we are trying to fund and the quality of their product or service provided as opposed to concentrating purely on the current financial performance of the applicant.”
Mr Grantham concluded: “I’m delighted to be able to secure such a significant fund for one of the most enterprising regions in the UK”.
A subsidiary of the Skipton Group, SBF is a leading independent invoice factoring and invoice discounting provider, offering a range of working capital solutions for businesses with annual sales ranging from new-start to £30m.