ATLANTA, GA--(Marketwired - Apr 2, 2014) - Bibby Financial Services is pleased to announce the addition of asset based lending to its financial products portfolio.
Asset based lending is a loan secured with a company's assets such as accounts receivable, inventory, real estate, machinery and equipment. It is an ideal form of financing for businesses that need additional funds to cover extra costs during periods of growth, make an acquisition, or handle seasonal orders.
"At Bibby Financial Services we provide access to working capital through factoring, or accounts receivable financing," said Leigh Lones, CEO Bibby Financial Services Americas. "As we've grown our presence, we've responded to our clients' needs for flexible solutions and added products such as non-recourse factoring, non-notification factoring and purchase order financing. By adding asset based lending to our portfolio, we will be able to provide even more cash flow to our clients based on their accounts receivable and inventory, as well as machinery and equipment."
The company will provide asset based loans up to $10 million in facility size. Unlike Bibby Financial Services' factoring product, which is available for start-ups to established businesses, asset based lending is generally targeted for companies with longer operating history.
"Our goal is to continue to listen to our clients and adjust our products and services to suit their needs. We are excited to bring our new asset based lending offering to market and also make it available to our existing client base," said Lones.
About Bibby Financial Services
Bibby Financial Services is a worldwide market leader in business cash flow solutions to small- and medium-sized companies. With offices in ten North American cities and 15 countries around the world, its product portfolio includes accounts receivable finance, recourse and non-recourse factoring, non-notification factoring, export finance, purchase order finance, asset based lending, specialist solutions for the trucking sector, and it is an approved lender for the Export-Import Bank's working capital guaranty program. Bibby Financial Services is a subsidiary of a 207-year-old privately held company based in the United Kingdom.
For more information on Bibby Financial Services, visit: www.bibbyusa.com or www.bibbycanada.ca, or Facebook at: https://www.facebook.com/bibbyfinancial.northamerica.