Bibby Financial Services Announces Deals

Bibby Financial Services US Supports Ohio Manufacturing Company with $2M in Funding

Bibby Financial Services (BFS) provided $2M in funding to a manufacturing company based in Ohio. The company manufacturers desulfation products that extend the life of vehicle batteries. Self-funded since its inception in 2015, the company landed a large ongoing contract with a tier-one supplier located in Sweden and needed external financing. Finding a lender proved challenging as the largest customer was foreign. The client received a quick decision from BFS on a $2M ABL facility and is now in a position to keep up with its growth plans to expand.

Bibby Financial Services US Extends $750K in Funding to Indiana Staffing Company

Bibby Financial Services (BFS) extended $750K to an Indiana staffing company. This staffing business provides supervisor level positions for the construction and maintenance of wind turbines. Their customers are primarily large Blue Chip companies working on extended payment terms. Until recently, the company was funded by its parent company in the UK. As they finalized a few large contracts that put them on a quick growth trajectory, they secured a factoring facility to keep up with payroll and purchase equipment.

Bibby Financial Services’ other recent deals included $1.85M extended to a Canadian oilfield services company, $1M in funding to US staffing companies, $500K in funding to Canadian transportation businesses, $250K in funding to a New York wholesale/distribution company and more.

 About Bibby Financial Services

Bibby Financial Services is a leading independent financial services partner to more than 10,250 businesses, providing more than $1.25 billion in funding annually and handling $11.6 billion in annual client turnover. With over 40 operations in 14 countries spanning 3 continents, we provide asset-based lending and factoring solutions to help businesses grow in domestic and international markets. Established in 2001, Bibby Financial Services supports businesses in virtually any industry. BFS is part of Bibby Line Group, a diverse and forward-looking family business with over 200 years’ experience of providing personal, responsive and flexible customer solutions. To find out more about Bibby USA and Bibby Canada, please visit www.bibbyusa.com or www.bibbycanada.ca.