Invoice finance company Bibby Financial Services is establishing a €60m fund for SMEs in Ireland.

The fund is aimed at viable Irish SMEs that need to generate cash flow to sustain or grow their businesses and have given up on their banks.

It promises decisions within five days.

The company supports SMEs by giving them access to cash tied up in invoices through invoice financing.

The €60m fund is part of the company’s three year Irish expansion strategy which aims to double the size of its current workforce. It wants to see a 50% increase in the company’s market share over the next three years here.