Leading independent SME funder, Bibby Financial Services (BFS), has appointed Steven Armstrong as Regional Construction Manager for the Northern region. In his new role, Steven will work to develop new business opportunities and sales within the construction finance industry for BFS. Steven brings over 20 years’ of experience working in the invoice finance industry, 14 of which were previously with BFS.
Prior to his return to BFS, Steven spent two years working at Aldermore as Specialist Finance Regional Sales Manager, where he provided cashflow solutions to SMEs across the UK and among various industries, including the construction sector.
Commenting on his new appointment, Steven Armstrong said: “I am really excited to return to BFS to work with the team and develop our market leading Construction Finance proposition. BFS has a stronger UK presence than any other invoice factoring company, coupled with a fantastic reputation, particularly in the North.
“In recent years, the construction sector has been characterised by a series of peaks and troughs, but as a funder, for over ten years we have maintained our commitment to SMEs and subcontractors working within the sector.
“While other funders are reluctant to finance businesses in the sector, we have continued to pledge our support for construction SMEs.”
Stephen Johnson, Northern Regional Sales Director for Bibby Financial Services said: “We are very much looking forward to having Steven back on the team. He has a real passion for helping SMEs grow, and a wealth of knowledge of the invoice financing industry, particularly within construction.
“Over the past 12 months, BFS’ construction finance business has grown rapidly, and we are serving ever more SMEs in the North. We are committed to ensuring we can growth this support even further and with Steven on board, I’m confident we’ll do so over the coming months and years ahead.”
Recent research by BFS found that over half (52%) of SMEs in the Construction industry are expecting sales to increase over the next three months, which is a 6% increase from the beginning of the year. SMEs in the construction sector are also looking to invest the most, with two thirds (65%) of businesses looking to invest in the next three months.
Steven will work across the Yorkshire and North Eastern region, and will be based in the BFS office in Sunderland.