10th May 2024
Skipton Business Finance (SBF), a wholly owned subsidiary of Skipton Building Society Group, proudly announces a record-breaking profit of £9.6 million for the fiscal year, reflecting a remarkable 32% increase from the previous year's £7.3 million. This exceptional growth underscores SBF's commitment to driving financial success for SMEs across the nation.
Empowering Business Growth Through Financial Solutions
For more than two decades, SBF, a leading provider of working capital solutions for businesses, has been a driving force behind the growth of UK SMEs. They offer customised working capital solutions, empowering businesses to unlock opportunities, invest in expansion, and achieve sustainable success.
"Building on our strong track record of supporting SMEs, we are pleased to announce record profits of £9.6 million," says Greg Bell, CEO. "This achievement reflects our focus on providing innovative Invoice Finance solutions that adapt to our clients' changing needs. We're a proud partner in the success stories of businesses throughout the UK."
Strong Growth, SME Focus
"This significant profit increase reflects Skipton Business Finance's growing role in supporting the UK's SME sector. The company's focus on innovation and adaptability positions it well to continue meeting the evolving needs of small and medium-sized businesses," added Greg.
"This record profit is a result of the dedication and hard work of our team, as well as the trust and confidence placed in us by our clients. Looking ahead, we remain committed to our mission of empowering UK SMEs to succeed through innovative financial solutions and exceptional client service."
Record Levels of Client Support
In addition to the record profit, SBF also facilitated a record £171.2 million in loans and advances to clients in 2023, up 14% from £150.6 million in 2022, demonstrating their commitment to supporting business growth.
Continued Commitment to Innovation and Excellence
As SBF marks this significant milestone, their unwavering dedication to delivering top-tier financial solutions that propel SME success remains steadfast. By remaining at the forefront of industry advancements and harnessing state-of-the-art technologies, SBF continues to enable businesses to flourish and realise their maximum potential.
Greg Bell emphasised, "The attainment of this record profit is a testament to the tireless dedication and diligence of our team, coupled with the unwavering trust and confidence bestowed upon us by our valued clients. Looking ahead, we are resolutely committed to our mission of empowering UK SMEs through pioneering financial solutions and unparalleled client service."
Contact Information
For media inquiries or further information, please contact:
Sophie Brown
07971727794
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Notes for editors:
About Skipton Business Finance (SBF)
Skipton Business Finance (SBF) is a trusted provider of working capital solutions for UK SMEs, with a rich history of over 20 years in the industry. Our mission is to empower businesses to achieve their growth aspirations by providing flexible and tailored financial solutions.
With a comprehensive suite of products and services, SBF offers support to businesses at every stage of their journey. Whether it's a new start-up in need of a cash flow boost or an established enterprise seeking to expand through strategic acquisitions, we have the expertise and resources to meet diverse business needs.
As part of the Skipton Building Society Group, SBF shares a commitment to building stronger relationships with our clients, prioritizing exceptional client care and keeping their needs at the forefront of every decision we make. Our dedicated team works tirelessly to deliver personalized support and innovative solutions, driving the success of our clients and contributing to the growth of the UK economy.
Skipton Business Finance has offices in Skipton, Manchester, Leeds, Birmingham and Bracknell.