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Paul Mulligan (pictured), founder of Chef in a Box, producer of premium handmade ready-to-cook meals, has found invoice finance to be a recipe for business success

Paul Mulligan set up Chef in a Box in 2009 and, since engaging with Bibby Financial Services Ireland (BFSI) in 2013, he has increased the number of supermarkets he supplies from 60 to 159,  including SuperValu, Centra, Spar and Londis.

In 2009, with pillar banks reluctant to fund the business, Chef in a Box was at a crossroads. Invoice finance was the perfect solution because the funding came from debtors, meaning Paul didn’t need to seek any investors.

Quick Turnaround

When Bibby Financial Services Ireland came on board, thorough checks of the business were completed and funds were made available in less than a week.

Paul says that working with a lender who understands his business has been an added bonus, as BFSI has continually supported and advised him on the best way to do business. “If I got a new outlet, BFSI would give me 75% of the money within 24 hours, and that enabled me to grow,” he explains.

“Luckily, my products are flying off the shelves and having invoice finance in place means I can grow at the rate the market dictates.”

In Association with

Sector Specialisms

Aoife McGinley, Head of Operations with Bibby Financial Services Ireland, says: “We work with a range of clients in the food and beverage services sector, and therefore have a strong understanding of their specific sectoral requirements.

"Our experienced team listen to our clients’ needs, considering factors such as supply pressure and debtor payment cycles, to create a tailored financial solution that is right for their business. Our solutions are designed to support the cashflow requirements of businesses and help them reach their potential.”

If you would like to find out more about Bibby Financial Services Ireland and how it can help your business,  call it on 01 297 4911, or visit
www.bibbyfinancialservices.ie.