Working capital is the lifeblood of any business, especially in these times of uncertainty, inflation and volatility. Effective working capital solutions allow businesses to meet their short-term obligations, invest in growth opportunities, and manage their cash flow. Many businesses face challenges to access adequate and affordable working capital solutions. This is where FIMBank, a leading provider of corporate banking and trade finance services comes in. FIMBank offers a wide range of corporate banking services tailored to the needs of each business.

With Ruth, we delve into the benefits of working capital solutions and corporate banking services that FIMBank has to offer to local businesses. Amassing over twenty years of banking experience, Ruth leads the Bank’s business development unit, specifically for the Malta-based Corporate Banking sector She has a wealth of knowledge and expertise in the fields of business banking, corporate lending, and business development. She is passionate about helping businesses achieve their goals and empowering them to overcome their challenges through innovative banking solutions.

I start with my first question: “what is working capital and why is it important?”

Ruth tells us that working capital is about effective money management that is crucial for the running of the day-to-day operations and to cater for the unexpected. Working capital includes inventory, money that customers owe to others, and other short-term financial matters. She says that effective working capital is very important for any business, big or small, because it helps them to have enough cash flow to cover their expenses and stay in business, safeguarding their organisation, people, and reputation. Working capital solutions also help businesses to reduce costs, improve cash flow and increase profits.

So how can businesses manage their working capital better? Ruth tells us that “working capital management is a key function for any business. It involves balancing the short-term assets and liabilities of a company, such as inventory, accounts receivable, accounts payable, and cash flow in general.

Essentially, working capital management also allows a business to cope with fluctuations in demand, supply, and market conditions that arise. She explains that the activity helps the business make sure that it has the right amount of inventory, money from customers, and funds to pay others.  Ruth highlights that working capital management can improve the performance of businesses in several ways.

In a practical context, by managing inventory better, a business can save money on storage and avoid wasting products thus managing the money acquired better. Finally, by effectively managing cashflow the business would hold the power to negotiate better terms with suppliers as well as avoid late fees and penalties.

Moving on to FIMBank’s role and its range of financial services, I ask what does FIMBank offer to help businesses with their working capital. Ruth comments that FIMBank specialises in trade finance and corporate banking. The Bank is focused on building a stronger foothold in the local market and already holds a significant portfolio of corporate clients involved in a wide range of industries. As a corporate banking partner of choice, FIMBank offers working capital facilities, capital expenditure loans, trade finance solutions, together with international payments services, FX and cash management services. She says that FIMBank can customise lending to suit the needs of each business and help them achieve their goals.

What are some examples of the financial services that FIMBank offers? She defines that FIMBank provides working capital facilities, such as overdrafts, guarantees, revolving loans, project financing, business loans, and refinancing solutions. 

Ruth concludes by saying that working capital is within reach and that FIMBank is committed to help businesses with their working capital management. She assures that FIMBank values its customers whilst working with them to find the best solutions for their needs and that it is a bank that businesses can trust and rely on. She emphasises that banking with FIMBank is comparable to building a partnership, because it is all about relationships. Ruth invites businesses to contact FIMBank and discover how they can benefit from their financial services.

How can businesses contact FIMBank to get more information? Business representatives may contact FIMBank to get more information about the services offered and how they can help them with their working capital requirements.  She is confident in FIMBank’s team of professionals who are dedicated to Maltese corporates and are ready to assist in addressing their queries and come up with proactive solutions. Businesses can visit FIMBank’s website www.fimbank.com, send an email to [email protected] or call on [+356 21322100].

FIMBank plc is regulated by the Malta Financial Services Authority and is listed on the Malta Stock Exchange. The Bank’s registered address is Mercury Tower, The Exchange Financial and Business Centre, Elia Zammit Street, St Julian’s STJ 3155, Malta. The Bank is licensed to undertake the business of banking in terms of the Banking Act 1994 (Cap. 371).