Q: What types of clients can I introduce to BFS?

What types of businesses are eligible? BFS supports various business structures such as limited companies, partnerships, sole traders, startups, and businesses undergoing transformations like phoenixes, CVAs, MBOs, and MBIs. To be eligible for Invoice Finance, these businesses should primarily engage in business-to-business transactions on credit terms. Which industries does BFS serve? BFS Invoice Finance caters to a broad range of industries that conduct business-to-business transactions on credit. Supported sectors include distribution, wholesale, manufacturing, engineering, construction, recruitment, waste management, export, printing, and cleaning services, among others.

Q: What is the process for handling leads at BFS?

How do I log a lead and what information do I need? Regardless of what solution your client needs, the process for logging a lead is the same. You can send your client’s details to our designated lead email at leads@bibbyfinancialservices.com copying in your BDM. We will need your client's registered company name or trading style, trading address, contact name, email and phone number in order to log a lead for you. What happens once my lead is logged and how long does it take? Our team will review the submission to ensure it meets our criteria, and you’ll receive regular updates throughout the process. Once logged, your BDM will typically contact you before reaching out to your clients to begin their application. Depending on the level of engagement from your client, a decision on their application can be made in as little as 24 hours. Please note that timelines may vary based on the transaction's size and complexity.

Q: How are my commissions structured at BFS?

How is my commission calculated and paid? Your commission is paid to you monthly in line with the schedule and fees detailed in your commission agreement. Your BDM will also provide you with working examples. Do I need a separate commission agreement to introduce Asset Finance business? Yes, introducing Asset Finance business requires a separate commission agreement due to the different terms and risk profiles. Your BDM can provide you with an introduction to an Asset Finance BDM for more information and to set you up.

Question 1

What types of clients can I introduce to BFS?

Accepted Answer

What types of businesses are eligible?

BFS supports various business structures such as limited companies, partnerships, sole traders, startups, and businesses undergoing transformations like phoenixes, CVAs, MBOs, and MBIs. To be eligible for Invoice Finance, these businesses should primarily engage in business-to-business transactions on credit terms.

Which industries does BFS serve?

BFS Invoice Finance caters to a broad range of industries that conduct business-to-business transactions on credit. Supported sectors include distribution, wholesale, manufacturing, engineering, construction, recruitment, waste management, export, printing, and cleaning services, among others.

Question 2

What is the process for handling leads at BFS?

Accepted Answer

How do I log a lead and what information do I need?

Regardless of what solution your client needs, the process for logging a lead is the same. You can send your client’s details to our designated lead email at leads@bibbyfinancialservices.com copying in your BDM. We will need your client's registered company name or trading style, trading address, contact name, email and phone number in order to log a lead for you.

What happens once my lead is logged and how long does it take?

Our team will review the submission to ensure it meets our criteria, and you’ll receive regular updates throughout the process. Once logged, your BDM will typically contact you before reaching out to your clients to begin their application. Depending on the level of engagement from your client, a decision on their application can be made in as little as 24 hours. Please note that timelines may vary based on the transaction's size and complexity.

Question 3

How is my client's Invoice Finance facility set up and managed at BFS?

Accepted Answer

What specific steps are involved in setting up a facility for a new client?

To set up a facility for a new client, we first need to understand their working capital needs. Your BDM will meet with your client to collect the necessary information for our underwriting process and will develop a tailored proposal to best suit their needs. After that, we will finalise a facility structure that provides an appropriate funding solution for your client.

What happens when my introduction becomes your client?

Once the client you’ve introduced is approved by underwriting, we initiate the onboarding process by setting them up on our ClientOnline portal, where their customers and ledgers are loaded. At this juncture, they will sign our legal documents. After the first payment is made to your client, your BDM will ensure a smooth handover to their dedicated relationship management team, which will then provide ongoing management of the facility.

Question 4

How are my commissions structured at BFS?

Accepted Answer

How is my commission calculated and paid?

Your commission is paid to you monthly in line with the schedule and fees detailed in your commission agreement. Your BDM will also provide you with working examples.

Do I need a separate commission agreement to introduce Asset Finance business?

Yes, introducing Asset Finance business requires a separate commission agreement due to the different terms and risk profiles. Your BDM can provide you with an introduction to an Asset Finance BDM for more information and to set you up.

Question 5

What support and resources are available for BFS introducers?

Accepted Answer

You'll be assigned a local BDM who will be your primary point of contact. Your BDM will provide tailored advice, direct support and is easily reachable via telephone and email.

In addition to this one-on-one support, you'll have access to comprehensive product guides, research such as our SME Confidence Tracker, monthly newsletters, and case studies.

You'll receive training through webinars and sessions that cover BFS products and market insights.

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