SOURCE: Bibby Financial Services

Bibby Financial Services

May 13, 2011 14:05 ET

Bibby Financial Services Funds Growth for Beverage Company

Provides a $6 Million Factoring Facility for a Fast-Growing Manufacturer

CHICAGO, IL--(Marketwire - May 13, 2011) - Bibby Financial Services announced today that it provided a $6 million factoring facility for a Chicago-based beverage company.

This business is a rapidly expanding national beverage company with distribution in more than 45 states. The company will use its increased cash flow to eliminate working capital concerns so it can have the freedom to grow without restrictions.

"Factoring is a great tool for any quickly growing company," says Bobby Lall, managing director of Bibby Financial Services Midwest. "Factoring releases cash tied up in outstanding invoices and ongoing funding is linked to current sales; so as you grow so does your access to funding. Because this business is growing so quickly, it needs a flexible form of finance so they can fulfill orders and take on new ones."

Bibby Financial Services is a worldwide market leader in business cash flow solutions to small and medium-sized companies. With offices in eight North American cities and 13 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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    Stacy Gaylord