TORONTO -- Bibby Financial Services, Inc. said it provided a $500,000 factoring facility to support the rapid growth of a Canadian-based company that imports precision scales and weighing instruments from China and distributes them to its customers throughout North America.
鈥淭his is a company that is eager to grow,鈥?Bibby Financial Services CEO Stewart Chesters said. 鈥淥ur client provides scales to a wide variety of industries including food service, liquor, and manufacturing and it turned to accounts receivable financing as the most efficient way to take its tag heuer replica business to the next level. The company, which is 12 years old, had orders coming in at a brisk pace, but ran into a cash flow crunch. We advanced the funds rolex fake it needed to pay its overseas suppliers so that the scales could be shipped and delivered to its customers on this side of the ocean. This is an excellent example of how factoring supports increasing business activity for a growing company,鈥?Chesters said.
Bibby Financial Services is one of the leading global factors, specializing in fast and flexible cash flow solutions for small and medium-sized companies. With offices in 10 North American cities and 11 countries around the world, its product portfolio includes factoring, export finance, purchase order finance, and specialist solutions for the government, staffing and transportation sectors. In 2009, Bibby Financial Services was a stepping-stone to financial health for more than 8,000 customers, funding $7 billion in receivables worldwide.
Bibby Financial Services is a division of The Bibby Line Group, a dynamic business-to-business services firm based in the U.K. Family-run and independent since 1807, the Bibby Line Group has succeeded in the toughest of markets, from shipping to distribution to financial services.
For more information on Bibby
embroidered patches Financial Services, visit: , or on Facebook at: .
For expert advice on small business, please visit CEO Stewart Chesters鈥? blog at:
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