Bibby Financial Services announced that it has funded a $4 million factoring facility for an Alberta-based distributor. The company markets high quality and energy-efficient wood-pellet-burning barbecue grills.

After three years with its current lender, the distributor found it needed a more flexible option for financing and turned to Bibby Financial Services. The company now has a higher advance rate and financing options for future growth, giving it the working capital it needs.

"Often, businesses find themselves needing a different type of financing to maintain operations or prepare for growth," said Bob Lall, Managing Director, Canada. "Bibby Financial Services was able to help this business move away from its current lender and find a financing solution that is flexible."

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.