Bibby Financial Services “KickStarts” Start-up Companies with Cash

CHICAGO--(BUSINESS WIRE)--Start-up companies are finding financial support from Bibby Financial Services’ KickStart Program, which provides flexible lending terms for amounts up to $100,000 to help small businesses cover gaps in their cash flow and take advantage of growth opportunities, said Stewart Chesters, CEO of Bibby Financial Services.

“They have told us that KickStart really is the perfect product to help their companies grow.”

“We’ve had many calls from companies manufacturing a wide range of products that need financing to support their businesses, especially as they see growth opportunities,” Chesters said. “Because many of these are new companies, without a long history of success, they don’t qualify for bank loans. And they are reluctant to get caught in the expensive and complicated maze of credit card financing,” Chesters explained. “They have told us that KickStart really is the perfect product to help their companies grow.”

Recent transactions include:

• $100,000 was advanced to a California-based company that manufactures men’s skateboard shoes. These high-end shoes have become a huge fashion statement because they are painted and embroidered, and designed by a well-known skateboard manufacturer. The company will use the funds to pay its manufacturers and cover cash flow gaps as it enters a growth cycle.
• Through the KickStart freight bill funding program, a $50,000 facility was approved for a flatbed carrier based in Houston. The principals are experienced trucking operators and are using the funds to cover initial start-up costs as well as fuel, insurance, payroll and maintenance.
• An organic baby clothes manufacturer recently revamped its business when it received sizable orders from two large national chains. Bibby Financial Services provided a $100,000 facility to help the company meet increased demand. Previously it had provided clothes only to small boutiques or to consumers through its website. With a successful national presence, the company realized factoring would give it the support it needs for higher production levels and growth.

“KickStart is aimed at smaller companies, but Bibby Financial Services offers financing programs with facilities as large as $5 million,” Chesters said. “The goal is to provide cash to companies of all sizes to help them grab business opportunities that will lead to growth and financial success.”

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.