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Bibby Financial Services Provides $10MM Funding to Supplement Company

December 05, 2018, 08:01 AM
Filed Under: Manufacturing

Bibby Financial Services (BFS) funded a $10 million asset-based lending facility to a manufacturing and distribution company that develops, markets and distributes premium vitamins and supplements. The company chose BFS as its lender because of their quick turnaround and consistent customer service which distinguished them from the competition.

With an aggressive marketing strategy and funding provided by BFS, this client has more than doubled their annual sales in just a few short years. The injection of capital from a BFS asset-based lending line helped mitigate debt and position the firm for growth. Funding from BFS has also allowed the company to pay down a large portion of its accounts payable debt, providing the company with added leverage and confidence from their suppliers, allowing their continued support from the manufacturer with requests for additional inventory purchases.

Ian Watson, CEO of Bibby Financial Services North America said, “As a result of working with BFS to obtain additional funding they needed as well as paying down outstanding debt, the company will now be able to produce more of their in-demand product and increase their retail footprint. Their sales have continued to grow and they no longer have to worry about having the supplies on hand to meet their production needs.”


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