SOURCE: Bibby Financial Services
TORONTO, ON--(Marketwired - Jan 21, 2014) - Bibby Financial Services announced today that is has funded a $500,000 factoring facility for an Ontario-based printing company.
The business, which makes a variety of paper and digital items, has been self-funded since its inception six years ago. During this time, the company built a loyal customer base.
Post-Recession, the business started to experience an increase demand from their repeat customers. This unexpected growth prompted the company to turn to Bibby Financial Services for a recourse facility to fund its expansion.
"This is an example of the financing challenges many small and medium-sized businesses face now that the economy is growing again," said Bob Lall, Managing Director of Bibby Financial Services Canada, "Although it had coped well during the Recession, this company was not able to scale as quickly as it wanted to meet an increase in demand. We worked with them to provide a flexible cash flow solution, a key component for any company during a growth period," said Lall.
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 receivables finance, factoring, export finance, purchase order finance, specialist solutions for the staffing and trucking sectors, 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