Bibby Financial Services Provides $2 Million Working Capital Advance to California Shoe Importer

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Bibby Financial Services said it provided a $2 million accounts receivable credit facility to a California shoe importer. The funds will be used for the company to expand its United States operations as well as grow its overseas business.

“This company is an excellent fit with Bibby Financial Services, because in addition to tapping into the proficiency and excellence of our North American offices, it is able to use our network of sister companies located across the globe in Europe, India and Australia,” said Stewart Chesters, Bibby Financial Services Chief Executive. “Our particular expertise in trade finance, rarely found among other factors, will be especially helpful to this client, whose business crosses borders on a daily basis.”

The shoe importer said it was drawn to Bibby Financial Services for its customer service and fast decision-making capability.

Notes to Editors

Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized enterprises. Its product portfolio includes receivable finance, factoring, export finance, purchase order finance and specialist solutions for staffing and trucking sectors. Its North American offices are located in Atlanta, Chicago, Dallas, Houston, Los Angeles, Nashville, Phoenix, Toronto, and West Palm Beach, as well as 27 other countries around the world. Bibby Financial Services is a subsidiary of The Bibby Line Group, a 200 year-old privately held company based in the United Kingdom, that provides business-to business services to a variety of industries including shipping, distribution, offshore oil field services, financial services, retail and employment law.

For more information on Bibby Financial Services, visit: www.bibbyusa.com, www.bibbycanada.ca, www.bibbyfinancialservices.com

For more information on The Bibby Line Group of Companies, visit: www.bibbygroup.co.uk