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Bibby Financial Services Successfully Funds Canada’s Dansons

April 12, 2016, 07:38 AM
Filed Under: Manufacturing

Bibby Financial Services Canada announces a successful working partnership with Alberta-based grill-maker Dansons. The company engaged with Bibby Financial Services (BFS) after its bank ended its partnership during the last financial recession. Due to the reduced lending climate, obtaining another traditional asset-based lending engagement was not an option for Dansons.

First engaging with an accounts receivable financing company in New York, Dansons initially transitioned to BFS because of its local office and more affordable rates; however, Dansons stayed engaged with Bibby Financial Services because of its culture.

The BFS culture is rooted in forming deep and personal relationships with its clients. This environment of trust allows the opportunity for its clients to circumvent cumbersome reporting requirements after time. It keeps customers from getting bogged down in administrative duties and allows them to focus efforts on growing profitability. During Dansons’ partnership with BFS Canada, the company grew its revenues by more than 60 percent.

The company attributes a great deal of its current success to the commercial finance leader, stating that the company’s customer service and flexibility is unmatched in its industry.

“Our clients often tell us that our customer service and attention to detail is superior to any other lending institution,” says Leigh Lones, Bibby Financial Services CEO, Americas. “It is important to us that we take as much of the burden off of our customers as possible, so they can focus on growing their customer base and profits. Developing those meaningful relationships is ingrained in every one of our employees,” Lones concludes.

This customer-centric mentality has proved to be a successful business model for the company. Bibby Financial Services Canada recently celebrated 10 years in business, funding more than 750 Canadian businesses since 2006 and providing more than $400 million in funding last year alone.

“If it were not for companies like Bibby Financial Services, a lot of businesses would not have the opportunity to grow and succeed. They provide a fantastic opportunity, and I think without them, there would be a lot more bankruptcies,” says Jeff Thiessen, Dansons President.

A case study regarding the partnership can be viewed here.

Bibby Financial Services, a worldwide market leader in business financing solutions, supports businesses of all sizes in virtually every industry with flexible, customized funding solutions. With its asset-based lending and factoring products, the company provides clients access to the working capital needed to grow and support their businesses.

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