SOURCE: Bibby Financial Services

Bibby Financial Services

September 11, 2012 10:39 ET

Bibby Financial Services Provides Solar Panel Manufacturer With $1 Million Factoring Facility

TORONTO--(Marketwire - Sep 11, 2012) -  Bibby Financial Services announced today that is has funded an Ontario, Canada-based manufacturer and distributor of solar panels to the energy sector.

The company is growing rapidly and needed additional cash flow to fund its expansion.

"This client opened its doors in 2011 and has since grown from two employees to more than 80," said Bob Lall, Managing Director. "This is an ideal situation for factoring; our facility is more flexible than bank financing because it is based on the client's invoices and is therefore capable of growing alongside the client without the restrictions typical in bank financing."

According to Lall, "The ability to fund the company's growth, along with our local presence and comprehensive back office support, is important during this key phase of its growth cycle."

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 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 delegated authority program. Bibby Financial Services is a subsidiary of a 204-year-old privately held company based in the United Kingdom.

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