Bibby Financial Services Provides $2.5 Million Credit Facility to Texas Aerospace Components Firm

DALLAS--(BUSINESS WIRE)--Bibby Financial Services said it has awarded a $2.5 million credit facility to a Texas-based aerospace components company, primarily to support new product development. The firm’s main business is manufacturing bushings, washers, spacers, nuts and bolts that are used in the production of aircraft.

“As traditional financing sources have dried up during the current economic downturn, accounts receivable financing has become a logical and accessible option for many growing companies whose products remain in demand and who have solid revenue sources.”

“Bibby Financial was pleased to be able to work with this client on solving its short-term liquidity issues, as well as provide it with financing to meet its expansion needs,” said Wes Read, Executive Vice President, Bibby Financial Services. “As traditional financing sources have dried up during the current economic downturn, accounts receivable financing has become a logical and accessible option for many growing companies whose products remain in demand and who have solid revenue sources.”

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, Sacramento, 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.