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Bibby Financial Services Provides $750,000 Facility for Apparel Distributor

May 07, 2014, 07:14 AM
Filed Under: Apparel

Bibby Financial Services announced today that it has funded a $750,000 factoring facility for a California-based apparel distributor. The business, established in 2000, produces skateboarding industry apparel, footwear and products such as wheels. Although the company is well-established, lending restrictions and the removal of an inventory facility from the previous lender left gaps in cash flow. 

In order to maintain business operations, the company needed a more flexible cash flow solution. Bibby Financial Services was able to assist by providing a recourse factoring facility.

“Unlike traditional forms of lending, Bibby Financial Services is flexible,” said Nick Hart, Managing Director of Bibby Financial Services California. “We understand that companies can fall on hard times, whether it be from shifts in the marketplace or inflexible funding. We can help businesses create liquidity so they can maintain their daily operations and get back to being profitable.”

Bibby Financial Services is a worldwide market leader in business cash flow solutions to small- and medium-sized companies. With offices in ten North American cities and 15 countries around the world, its product portfolio includes accounts receivable finance, recourse and non-recourse factoring, non-notification factoring, export finance, purchase order finance, specialist solutions for the trucking sector, and it is an approved lender for the Export-Import Bank's working capital guaranty program. Bibby Financial Services is a subsidiary of a 207-year-old privately held company based in the United Kingdom.

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