Bibby Financial Services helps businesses that are struggling in a fluctuating economic climate. We can assist with all kinds of services under all kinds of business circumstances.
At a time when cashflow is king, business owners using our Factoring services might also want to consider our Bad Debt Protection product which can be a lifeline for business owners looking to make sure that cashflow is assured.
How does Bad Debt Protection work?
Sometime referred to as ‘non-recourse’, Bad Debt Protection is a great reassurance to our clients that any debts will be protected in the event of customer insolvency or inability to pay (of course, customers need to admit to owing the debt in the first instance).
Usually, debts of over £500 can be protected; we take care of all the administration so you don’t need to worry or carry any extra burden, giving you peace of mind when it comes to future cashflow.
Key Features of Bad Debt Protection
Key features of this service include;
- Protects businesses’ whole turnover or can be used for just selected customers
- Protection can be provided for customers with balances over £500
- Debts are not recoursed (funding removed due to ageing) as standard
- Factoring with bad debt protection can guard against customer insolvency
- Additional funding may be available against customers with high concentration levels or where longer payment terms are offered
- No additional administration burden
Of course, the big advantage is peace of mind to your business knowing your cashflow is protected and there is no recourse should you choose to protect any debt outstanding.
BIBBY FINANCIAL SERVICES
As the UK’s leading independent invoice finance specialist and a trusted provider of cashflow funding to over 7,000 businesses, Bibby Financial Services provides a range of finance solutions for companies in over 300 industry sectors.
For more information about Bibby Financial Services’ cashflow solutions, visit: www.bibbyfinancialservices.com or call 0800 91 95 92.