Bad Debt Protection for SMEs | Bibby Financial Services Ireland

How to protect against bad debt?

Annually SMEs lose thousands of euros due to customers’ insolvency or poor payment practices. These payment issues present a real risk to businesses, restricting cashflow and preventing growth. Delays or non-payment of invoices can affect the viability of all business.

We can offer non-recourse Bad Debt Protection and protect you against bad debt risk. This provides you comfort in knowing you’ll receive payment and safeguard your cashflow if your customers are unable to make payment or become insolvent.

Is your business suitable

Your business could be suitable if you:

Yes: have had previous experience of customer bad debt
Yes: want to minimise the risk of non-payment from customers
Yes: want to safeguard your cashflow
Yes: have some customers that represent a large percentage of your sales

Get a quote

Bad Debt Protection

Features:

We take on your bad debt risk
Protects up to 90% of your bad debts
Protection can be provided for customers with balances over €1,000
We can cover debts up to 60 days old
Can protect against all of your customers or can be used just for selected customers
We credit check all of your existing customers and any prospective customers
Additional funding may be available against customers who represent a large proportion of your sales or where longer payment terms are offered
We take care of all the administration, so you can free up your time

Benefits:

Speed: Bad Debt Protection can be in place within 24 hours
Security: we protect your business when your customers do not pay
Scope: up to 90% of your bad debts can be protected
Choice: you can decide which customers need to be covered
Prevention: you can monitor your customers and act before they become a bad debt
Flexibility: we can back date protection on all debts by 60 days
Personal: we have a relationship-based approach with our clients and understand their business needs

How Bad Debt Protection can help your business?

Bad debt affects businesses of all sizes and from all sectors. It can be caused by many factors, including late payment from suppliers. Bad Debt Protection can be added to your Invoice Finance facility to provide you the peace-of-mind that you are covered even if your customers get into financial difficulty.

With credit checks and up to 90% protection against bad debts, you have the confidence of knowing you will receive payment for the work you’ve done or products you’ve sold. And you can be sure customer insolvency won’t affect your cashflow.

€13,780 is the average amount written off by SME’s in Ireland a year due to customer non-payment or insolvency Bibby Financial Services Confidence Tracker