Bibby Financial Services

Bibby to support construction SMEs impacted by Carillion

Bibby Financial Services (BFS) has outlined measures to support construction firms following the collapse of Carillion.

The multinational facilities management and construction services firm entered liquidation on Monday 15th January.

BFS hopes the measures will enable it to offer support for construction SMEs impacted by Carillion’s liquidation.

These measures include:

  • enhanced advance rates
  • same-day funding decisions
  • cash flow consultations
  • bad debt protection reviews

“The ramifications of Carillion’s collapse are being felt throughout the sector and beyond, with an estimated 30,000 businesses impacted,” said Helen Wheeler, managing director for construction finance at BFS (pictured above).

“As a provider of specialist funding for the construction sector, we are announcing measures that will enable us to offer additional support for subcontractors and SMEs that have been directly or indirectly affected.

“These measures will help SMEs to evaluate if and how their businesses are impacted, and understand [the] support available in relation to funding, credit control and bad debt protection.”

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