SOURCE: Bibby Financial Services

Bibby Financial Services, Accounts receivables finance, factoring, cash flow

October 19, 2010 13:55 ET

Bibby Financial Services Funds Growth for Canadian Companies

TORONTO--(Marketwire - October 19, 2010) -  Bibby Financial Services, Inc. announced today that it has provided two companies with factoring facilities in excess of $1 million dollars. Both businesses are using the cash flow generated from leveraging their accounts receivables to take on new contracts and grow their firms:

  • A British Columbia-based transportation company specializing in cargo import and export is using its new facility to take on a blue chip client that will increase its sales revenue by 35%.
  • An Ontario firm that specializes in importing apparel from China to the U.S. turned to BFS for a $2 million facility. With projected sales revenues of more than $20 million, the company is now able to take new orders and increase its liquidity as it grows. 

"Cash flow based on receivables enables a business to grow smartly without fear of restriction," said Bob Lall, Managing Director of Bibby Financial Services, Canada. "With typical bank financing, a growth spurt can be stunted by facility limits. Factoring, on the other hand, keeps pace with your growth, giving you access to enough cash to enable you to take advantage of new business opportunities."

Bibby Financial Services is a worldwide market leader in business cash flow solutions to small- and medium-sized companies. With offices in 7 North American cities and 14 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 delegated authority program. Bibby Financial Services is a subsidiary of a 203-year-old privately held company based in the United Kingdom.

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