Independent SME funder Bibby Financial Services Singapore has provided a business funding facility which allows an engineering firm take on more projects.
A marine specialist with over 10 years of combined experience in the industry, the engineering firm was experiencing a period of rapid expansion. The company required business funding in order to have working capital in place to take on more projects.
The nature of the business is non-recurring, but it managed to secure a term contract to provide professional engineering services to a customer. The business funding package structured by BFS Singapore will support this engineering firm’s working capital requirement, and credit collection services.
Most importantly, the engineering firm is now able to take on more mid-sized projects without having to worry about cashflow.
Finally, BFS Singapore also provided advice on service report documentation to help the client minimise any potential dispute over the services provided to their customers.
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