Bibby Financial Services announces the provision of a $7 million recourse factoring facility to a packaging manufacturer located in the midwestern United States.

The manufacturer produces and supplies paper gift packaging to retailers nationwide, including gift bags, gift wrap and stationary, as well as shopping bags, garment bags, boxes and packaging accessories. The company will use the funds for operational needs.

The Institute for Supply Management recently reported that its manufacturing index rose to 52.8 in May, up from 51.5 in April, and anything above 50 indicates expansion. Paper products was listed as one of the 14 industries reporting growth in manufacturing in May. “

We’ve seen a revival of American-made goods and products of late, and we are proud to play a part in the resurgence of U.S. manufacturing,” says Leigh Lones, Bibby Financial Services Americas CEO.

Bibby Financial Services, a worldwide market leader in business cash flow solutions, supports businesses of all sizes with flexible, customized financing solutions. With its asset-based lending and factoring products, the company provides clients access to the working capital needed to grow and support their businesses.