Bibby Financial Services announced today that it has funded a $1.25 million non-recourse factoring facility for a California-based apparel manufacturer. This new business saw increased demand for private-label denim, but as a start-up had struggled to obtain traditional funding. It needed a more flexible cash flow solution to pay international suppliers, afford growth and maintain operations.

Bibby Financial Services was able to assist the company by providing a non-recourse factoring facility.

"New and growing businesses often have trouble securing traditional bank lending," said Rob Meyers, Managing Director of Bibby Financial Services California. "Even though this business is a start-up, Bibby Financial Services was able to provide a sizeable and scalable facility for continued growth support."

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.