- Location: Galway, Dublin, Cork and Mayo
- Sector: Facilities Management
How Bibby Financial Services helped fund Neylons growth
Neylons are a facilities management company, providing specialist and general services to many industries and business sectors, including private hospitals, government bodies, pharmaceutical companies, offices, nursing homes, national schools and secondary schools
The company was formed in 2004 and has multiple locations across Ireland including Galway, Dublin, Cork and Mayo. Neylons credits Bibby Financial Services with helping to grow the business to its current size.
Facilities management companies often need to pay wages before they are paid themselves and this can cause funding challenges within the business. When Neylons found themselves having issues with their cashflow, they turned to Bibby Financial Services Ireland who were able to assist them by providing them with a tailored invoice factoring funding solution. Bibby Financial Services looked at Neylons paperwork, analysed their accounts and were able to provide the company with a decision very quickly.
Sylvie Neylon, Founder of Neylons, says: "We needed a company who would support us with all aspects of the business from cashflow to VAT and PRSI. Working with Bibby has taught us good money skills, which are critical to any SME. We found that much of our time was spent collecting money rather than developing our business – it was fantastic to be able to access finance, safe in the knowledge that we now had the time and space available to us to grow our business. From a financial perspective, people often believe that invoice financing is significantly more expensive but I can tell you the reality is that it’s not it’s a miniscule difference really, particularly as they’re so helpful in so many aspects of the business.”
“We had tried to work with banks in the past, but the service they provided was slow and they required a lot of paperwork before they made a decision. That was when we decided that we would access an alternative method of funding - we found Bibby and we haven’t looked back since. In a bank, you never speak to the same person twice but in Bibby, there is a strong culture of customer support and you really get the feeling that the staff are on your side. I can honestly state that we would not be in business if it hadn’t been for Bibby Financial Services Ireland.”
You can find out more about Neylons at neylons.ie