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Cash flow finance is gaining momentum as small and medium businesses seek an alternative solution to increasingly expensive and difficult to obtain overdrafts according to Bibby Financial Services.
Greg Charlwood, Asia Pacific CEO at Bibby, said the global debtor finance group has seen a surge in enquiries this year as businesses seek alternatives to tightening bank funding.
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“Businesses are more in need of cash flow funding in the current environment. We are receiving record levels of enquiries for debtor finance in 2009 and new client growth is running at 30 per cent above 2008 levels for the first quarter,” he said.
