SOURCE: Bibby Financial Services

Bibby Financial Services

June 21, 2011 10:59 ET

Growing Manufacturer Turns to Bibby Financial Services

Massachusetts Biohazard Safety Equipment Maker Gets Infusion of Cash Flow

CHICAGO, IL--(Marketwire - Jun 21, 2011) - Bibby Financial Services announced today that it has provided a $1.25 million factoring facility for a Maynard, Massachusetts-based manufacturing company.

This business makes and distributes biohazard safety equipment used by law enforcement, customs agencies and the military. The company will use the increased cash flow to fund its growth and development.

"This company needed cash flow to finance their progression from research and development to production," said Bobby Lall, managing director of Bibby Financial Services Midwest. "Factoring is a smart solution for companies with high-tech products. After using start-up funds for research and development, which can be a long process, a cash flow solution based on receivables provides a necessary injection of cash, then an ongoing source of funds based on new receivables as orders come in."

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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