Bibby Financial Services is the leading non-bank Invoice Finance provider supporting 7000 businesses in 17 countries with fast, flexible cash flow solutions and specialised funding facilities such as Progress Claim Finance.
Progress Claim Finance essentially provides invoice finance to those businesses who engage in contractual-type arrangements with invoices billed on a progressive basis. Funding is advanced against the stage or progress claims, thereby injecting working capital back into your business to fund growth and improve your cashflow.
Our product is called Progress Claim Finance, it is a funding solution designed specifically to support sub-contractors or other business that bill on a progressive basis. Our facility allows customers to draw down up to 70% of their progress claim once certified or confirmed by the customer who the work has been provided to within 24 hours. When the customer pays the claim the remaining 30% less fees is released back to the sub-contractor.
The key benefit is to allow business to unlock cash tied up in their unpaid progress claims thus allowing businesses to satisfy other financial commitments such as paying employees and suppliers in a more orderly fashion. Our facilities often provide the additional cashflow boost allowing businesses to achieve growth ambitions, taking on additional contracts.