How the SME Funding Conversation Has Changed Over the Past Decade

Mark O'Rourke, Managing Director of Bibby Financial Services, reflects on ten years of partnership with the Strategic Banking Corporation of Ireland (SBCI), the growth of Invoice Finance as a mainstream funding solution, and why identifying the right funding structure has become as important as accessing finance itself.

This year marks ten years of partnership between Bibby Financial Services Ireland and the Strategic Banking Corporation of Ireland (SBCI).

During that time, the partnership has helped deliver almost €490 million in funding support to Irish SMEs across a wide range of sectors. However, the impact of the partnership extends beyond funding volumes alone. It has also helped support the development of a broader, more diverse funding landscape for Irish businesses and contributed to growing awareness of Invoice Finance as a working capital solution. 

Through the partnership, SBCI provides Bibby Financial Services with access to lower-cost funding, which Bibby uses to offer eligible Irish SMEs discounted Invoice Finance facilities. These facilities allow businesses to access working capital tied up in unpaid customer invoices sooner, with funding that can grow in line with sales. This gives SMEs greater flexibility to manage cashflow, invest and pursue growth opportunities.

When we first partnered with SBCI in 2016, many SMEs viewed funding through a relatively narrow lens. Traditional lending remained the default option for many business owners, while alternative funding solutions were often less widely understood or considered.

Today, the conversation is very different.

Irish businesses and their advisers have access to a broader range of funding options than ever before. More importantly, there is a greater understanding that different business challenges require different funding solutions. Increasingly, the discussion is not simply whether finance is available, but whether the current funding structure is still the right fit for the business. 

That distinction matters.

A business funding rapid growth has different requirements to one investing in equipment, acquiring a competitor, recruiting additional staff or managing longer customer payment cycles. The goal is no longer simply to secure access to capital. It is to establish a funding structure that provides sufficient liquidity and flexibility to support business objectives over the long term. 

One of the most significant changes we have witnessed over the past decade has been the increasing recognition of Invoice Finance as part of the mainstream SME funding market.

Historically, Invoice Finance was often viewed as a niche or specialist product. Today, it is increasingly recognised by business owners and advisers as a flexible source of working capital that can support a wide range of growth scenarios. Businesses are using it to manage cashflow, fund expansion, invest in infrastructure, support acquisitions and respond to changing market conditions. 

This evolution reflects a broader shift in how businesses think about growth.

Growth often creates funding requirements before it creates cash. Winning larger contracts, taking on new customers or entering new markets can increase working capital requirements long before revenue is received. Businesses may be growing strongly and remain profitable, yet still experience pressure on liquidity as they wait for customers to pay.  

Recent Banking & Payments Federation Ireland figures illustrate how far the Invoice Finance market has evolved. More than €1.3 billion was advanced to businesses through Invoice Finance facilities in the first quarter of 2026, with more than €3 billion in funding available overall. These figures reflect the growing importance of working capital funding within the wider SME finance market. 

The role of advisers has also become increasingly important.

Accountants, corporate finance professionals and business advisers are often the first to recognise the signals that a business may have outgrown its existing funding arrangements. Growing debtor books, longer payment cycles, larger contracts or expansion plans can all create new funding requirements. Their value increasingly lies in helping clients understand not only what funding is available, but which funding structure is most appropriate for the challenge they are facing. 

Over the past decade, one lesson has remained consistent. Access to finance remains critically important for Irish SMEs. Increasingly, however, the challenge is not simply accessing finance, but identifying the right funding structure for a particular business objective.

A working capital challenge caused by longer debtor days often requires a different solution to a one-off funding requirement. Funding growth, managing cashflow, investing in premises or undertaking an acquisition may each require a different approach. The strongest outcomes are typically achieved when businesses, advisers and funding partners work together to explore the full range of options available. 

As we reflect on ten years of partnership with SBCI, we are proud of the role the partnership has played in supporting SMEs across Ireland. Equally important is the contribution it has made to increasing awareness of alternative finance and expanding the funding options available to business owners and their advisers.

The funding landscape will continue to evolve, but the objective remains unchanged: helping ambitious Irish businesses access the right funding, at the right time, to invest, grow and move forward with confidence. 

Explore Your Funding Options

Whether you're supporting clients through growth, managing working capital pressures or planning future investment, understanding the right funding structure can make all the difference.