Bibby Financial Services Supports Acquisition with $750,000 Facility

CHICAGO--(BUSINESS WIRE)--Bibby Financial Services said today it provided a $750,000 accounts receivable financing facility to a Chicago-based manufacturer of personal care products such as shampoos, conditioner, and lotions, as well as over-the-counter pharmaceuticals including hand sanitizers and liquid soaps, industrial products and cleaning supplies. The funds were used to cover cash flow gaps in connection with the acquisition of the assets of another company.

“Bibby Financial Services has been able to provide financing assistance in many of these cases by advancing funds against outstanding invoices so that companies have enough money to meet their financial obligations while they continue to grow.”

“The ongoing, severe economic slowdown is forcing consolidation in a number of industries, as companies band together to preserve their businesses and achieve the cost cutting that can occur through economies of scale, while they continue to service their customers,” Bibby Financial Services EVP Bob Jaskiewicz said. “Bibby Financial Services has been able to provide financing assistance in many of these cases by advancing funds against outstanding invoices so that companies have enough money to meet their financial obligations while they continue to grow.”

Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized enterprises. With offices in 10 North American cities and 27 countries around the world, its product portfolio includes receivables finance, factoring, export finance, purchase order finance, specialist solutions for the staffing and trucking sectors, and it is an approved lender for the Export-Import Bank’s working capital guaranty delegated authority program. Bibby Financial Services is a subsidiary of The Bibby Line Group, a 202 year-old privately held company based in the United Kingdom.

For more information on Bibby Financial Services, visit: www.bibbyusa.com, or on Facebook at: www.facebook.com/bibbyfinancialservices.northamerica.

For expert advice on small business, please visit CEO Stewart Chesters’ blog at: http://www.bibbyusa.com/ceoblog.