SOURCE: Bibby Financial Services

Bibby Financial Services

January 15, 2015 08:00 ET

Bibby Financial Services Funds Sustainable Apparel Company

Cash Flow Allows Naadam Cashmere to Have Its First Wholesale Season

ATLANTA, GA--(Marketwired - Jan 15, 2015) - Bibby Financial Services announced today its funding of visionary apparel company Naadam Cashmere, a luxury garment company offering goods made from Mongolian cashmere sourced by Nomadic herders. As a result of its partnership with Bibby Financial Services, the company was able to expand its distribution model.

Naadam Cashmere was founded with the unique vision of building a sustainable business model that would ultimately help preserve the Mongolian Nomadic herding lifestyle, which is threatened by the region's increasingly volatile climate changes. Naadam Cashmere circulates a percentage of its profits to the base of the supply chain by investing in life insurance programs for the herders.

Given the cyclical nature of its inventory, the company began to experience cash flow gaps between harvesting seasons and those seasons in which cashmere isn't in high demand. Bibby Financial Services worked with Naadam Cashmere to provide a tailored funding solution, allowing them to smooth out the seasonality of the business.

"Bibby Financial Services is built around small businesses," said Leigh Lones, CEO of Bibby Financial Services, Americas. "We encourage that entrepreneurial spirit. If there are invoices to be generated, then 99 percent of the time, we can come up with a solution to fund small businesses."

According to the October 2014 Biz2Credit Small Business Lending Index, four out of five small business loans were denied by the big banks (banks with over $10 billion in assets).

Due to the cash influx, Naadam Cashmere was able to grow significantly, moving from an online company to delivering to nearly 40 stores across the U.S. "Bibby Financial Services helped us factor our entire first wholesale season," said Matthew Scanlan, CEO and Co-Founder of Naadam Cashmere.

A case study and video testimonial regarding Naadam Cashmere's success with Bibby Financial Services can be found on the Bibby Financial Services website.

About Bibby Financial Services

Bibby Financial Services, a worldwide market leader in business cash flow solutions, bridges the access to cash gap between alternative lenders and traditional banks. It operates offices in 10 North American cities and 15 countries. Its product portfolio, which features factoring and asset-lending solutions, serves emerging and established companies. An approved lender for the Export-Import Bank's working capital guaranty program, Bibby USA and Bibby Canada are subsidiaries of its 207-year-old privately held U.K.-based parent. 

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