Bibby Financial Services is supporting global growth for a UK arts supplies company with a £1 million funding line.
Chameleon Art Products exports to countries throughout the world and BFS is providing an export finance facility so the company can unlock cash flow globally, access a team of currency and language specialists and focus on international distribution and product development.
Export finance releases the value of outstanding invoices and helps businesses overcome the complexities of selling goods or services overseas.
Gordon Nardini, commercial director, Chameleon Art Products, said: “As our goods are manufactured in China and distributed into 80 different countries around the world, chasing payments from international customers became an increasingly time-consuming task.
“The export finance team at BFS has enabled us to relieve the pressure of chasing payments. In-turn, this has allowed us to focus our efforts on our expanding product range.
“Their ability to provide working capital for our operational base in USD in the US and sterling for our company in the UK has provided us with an integrated funding solution that really works for us as a global art product supplier.”
Matt Alis, business development manager at Bibby Financial Services (pictured above), said: “Exporting, particularly to so many different regions, brings a plethora of challenges to any business.
“We stepped in where traditional lenders didn’t have the cross-border capabilities to advance funding. Our global funding capability allowed our export finance specialists in the UK and US to work in tandem to structure a multi-jurisdiction funding line.”