Fibr was a business finance provider that prided itself on its flexible solutions for SMEs.
Who were Fibr?
Fibr was a business finance provider that prided itself on its flexible solutions for SMEs. It paired traditional lending options with a handy line of credit option. Fibr also used Open Banking to assess your eligibility and provided real-time decisions on finance approvals.
What type of funding did Fibr offer?
Fibr provided invoice finance from amounts between £10,000 to £250,000 to help you fund your unpaid invoices. With Fibr’s quick approval process, you could get the money in your account within 24 hours. This helped businesses patch up any cash flow issues from late invoices.
A line of credit lets you access cash whenever you need it, with amounts between £10,000 to £250,000 available. The funds can be drawn whenever you need and you’ll get the money in your account within seconds. You also only pay for the funds you use, and there are no fees to open or maintain your line of credit. No early repayment fees, annual or monthly maintenance fees are added.
How did you apply for funding with Fibr?
Fibr’s had a streamlined application process meaning you didn't have to spend too much time applying. You had to provide the name of your business, reasons for funding, contact details, directors’ information, business bank account and website address.
Fibr based its decisions on a link to your business bank account through Open Banking. This means they analysed each business transaction in real-time rather than using annual accounts to approve finance. This ensured Fibr could assess your finances quickly and accurately without you having to dig out old annual accounts and bookkeeping records.
It means they have an up-to-date picture of your finances which helps them grant credit that’s truly affordable for you.