SOURCE: Bibby Financial Services

Bibby Financial Services

October 13, 2015 08:30 ET

Bibby Financial Services Closes 83 Deals Totaling More Than $30.8 Million in Q3 2015

ATLANTA, GA--(Marketwired - Oct 13, 2015) -  Bibby Financial Services closed 83 deals in the third quarter of 2015. Seven notable transactions that contributed to the company's third quarter success include:

  • An $11 million asset-based lending facility to a New York-based developer of licensed celebrity fragrances to expand its product line
  • A $3 million asset-based lending facility to a manufacturer/distributor of industrial packaging goods based in the southern United States to be used for working capital
  • A $2 million asset-based lending facility to a New York-based manufacturer of sanitation goods to allow the company to expand its reach across the U.S.
  • A $2 million asset-based lending facility to a candy and snack distributor in New Jersey to be utilized for working capital
  • A $1 million factoring facility to an importer/exporter of frozen fish and seafood in Quebec to enable the purchase of inventory and fulfil new orders
  • A $1 million factoring facility to an Ontario-based transportation company to support payroll and operating expenses
  • A $1 million non-recourse factoring facility to a specialty toy wholesaler in California to be used for working capital and product development

"We attribute our success this quarter to a focus on asset-based lending and several key hires to support this offering," says Leigh Lones, Chief Executive Officer of Bibby Financial Services Americas. "It's encouraging to see sustained growth in this relatively new offering, and it bodes well for growth in 2016."

About Bibby Financial Services
Bibby Financial Services, a worldwide market leader in business financing solutions, supports businesses of all sizes in virtually every industry with flexible, customized funding solutions. With its asset-based lending and factoring products, the company provides clients access to the working capital needed to grow and support their businesses. Bibby Financial Services is proud to have helped more than 8,900 clients grow their businesses by providing more than $1 billion in funding across the globe. It operates offices in seven North American cities and 16 countries. Bibby Financial Services is a subsidiary of The Bibby Line Group, a privately held company established in the United Kingdom in 1807. For more information, please visit www.bibbyusa.com or www.bibbycanada.ca.

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