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Bibby Financial Services Provides $750,000 Facility to Canadian Manufacturer

July 28, 2014, 07:49 AM
Filed Under: Manufacturing

Bibby Financial Services announced it has funded a $750,000 factoring facility for a British Columbia-based manufacturer. The company, founded in 2006, designs and internationally manufactures high-end bathware, including bathtubs, sinks, tapware, toilets and showers.

After joining a buying group for elite U.S. businesses, the company began to see increased demand for its products. To afford to produce more goods, the company needed additional working capital and turned to Bibby Financial Services for a recourse facility. With the additional cash flow, the company will be able to fund its growth.

"As a manufacturer, seasonal demand and compressed margins can leave gaps in cash flow," said Bob Lall, Managing Director for Bibby Financial Services Canada. "Our team alleviated that gap and introduced liquidity to keep this company growing and moving forward."

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, asset based lending, 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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