Working capital financing provides businesses with the liquidity they need to fund day-to-day operations including payroll, overheads and other expenses.
Bibby Financial Services Singapore has provided a wholesale food supplier with a funding line to meet its working capital requirements following a peak in demand.
The funding line of SGD600k has been provided the wholesale and manufacturing business allowing it to meet the increasing demands of its major supermarket chain customers.
The demand for frozen food products spiked due to the Covid-19 measures that the Singapore government put in place. Food suppliers faced working capital challenges posed by the rapid increase in their output to satisfy the increased demands.
The client was introduced to BFS Singapore by our business finance partners. BFS Singapore worked closely with the team to quickly structure a deal that met the working capital financing needs of the business.
The funding facility will help the business to fund its growth plans and take on more new clients.
BFS Singapore aims to support many more businesses throughout the pandemic with our quick and flexible working capital financing capabilities.
Read about our working capital finance solutions.