SOURCE: Bibby Financial Services

Bibby Financial Services

February 11, 2011 14:35 ET

West Coast Manufacturer Turns to Bibby Financial Services

Partners With Inventory Lender to Supply $8 Million Line of Credit

LOS ANGELES, CA--(Marketwire - February 11, 2011) - Bibby Financial Services announced today it has provided a $5 million line of credit to a family-owned manufacturer and distributor of toys, novelties and gifts. 

The company came to Bibby Financial Services looking for alternative funding on a tight deadline when its traditional lender would not meet its needs. The Bibby Financial Services team worked quickly to secure the line of credit within seven days of receiving the paperwork. They also partnered with an inventory lender to make an additional $3 million in funding available to the company.

"Bibby Financial Services offers flexibility and access to decision-makers in real time, which makes it possible to fund a deal like this quickly," said Nick Hart, managing director of Bibby Financial Services' West Coast region. "This is an example of the struggles of so many small and medium-sized businesses that are ready to start growing again, but find themselves restricted by limited support from traditional lending sources."

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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