Bibby Financial Services Provides $1.75 Million Facility and Purchase Order Financing to Fund Toronto Business Expansion

TORONTO--(BUSINESS WIRE)--Bibby Financial Services said today it has provided a $1.75 million funding facility to a company located in the Greater Toronto Area, which specializes in the design and importation of premium promotional, seasonal products. The facility will be used to fund future orders from China and for working capital. In addition to this accounts receivable facility, the company also secured a $250,000 purchase order contract with Bibby International Trade Finance, based in Atlanta, GA, to grow its overseas business.

“This is an excellent example of a Canadian company that can benefit greatly from accounts receivable financing because of its growth potential,” said Kevin Westfall, EVP of Operations, Bibby Financial Services. “Furthermore, because Bibby Financial Services has offices around the world, we are able to meet our client’s international needs with our expertise in trade finance and purchase order financing.”

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 Toronto, Atlanta, Chicago, Dallas, Houston, Los Angeles, Nashville, Phoenix, Sacramento 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