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Bibby Financial Services (BFS) has loaned £2.6 million ($3.39 million) to Surfanic International, a UK-based skiwear company. Around £1.9 million will be used for invoice financing and the remaining £700,000 will provide trade finance support.
Surfanic went the alternative finance provider route after restrictions from its existing lender caused underfunding and an inability to meet new customer orders. According to Marc Pang, director at Surfanic: “ BFS were able to provide an add-on flexible facility which had a lower cost to our business”.