SOURCE: Bibby Financial Services

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

October 12, 2010 12:26 ET

Bibby Financial Services Passes 5,000 Client Marker

CHICAGO, IL--(Marketwire - October 12, 2010) -  Bibby Financial Services said today that it has surpassed the 5,000 client mark and is now providing 5,044 small- and medium-sized companies with cash flow solutions. This milestone, reached last quarter, marks an 80% increase in clients since December 2006. In North America, Bibby Financial Services has more than doubled new business since 2009; August 2010 proving to be the strongest month of the year so far with a 160 percent increase over the same period last year.

"I'm very proud of the growth we've seen as a company," said Leigh Lones, CEO of Bibby Financial Services, North America. "In the U.S. and Canada much of our growth has come from providing cash flow solutions to key factoring sectors such as transportation, temporary staffing and manufacturing. However, we are also funding clients from more than 40 additional industries through a variety of financial products, including export finance and purchase order finance."

BFS attributes its diverse client portfolio to its ability to fund based on the health of a client's customer, unlike a bank, which scrutinizes the client's credit history. According to Lones, this gives BFS the ability to provide companies with flexible cash flow solutions at a time when bank financing has been hard to come by. Despite the U.S. government's attempts to improve credit availability, many businesses still remain in a state of financial limbo with limited access to bank funding. Factoring offers an accessible and flexible alternative to help businesses survive and grow.

Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized companies. With offices in 8 North American cities and 11 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 202-year-old privately held company based in the United Kingdom.

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