FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Press Releases / Read Press Release

Print

Bibby Financial Services Closes Four Deals Totaling $4MM

November 20, 2018, 08:00 AM
Filed Under:


Bibby Financial Services (BFS) recently closed four transactions for a total of $4 million in total financing.

BFS provided $1 million in funding to a Midwest company that provides telecommunications services and utility contract work for Internet and cable service providers in the Midwest and West Coast. Large contracts with several major services providers and large enterprise companies often stipulate that these clients pay on extended payment terms, which leads to cash flow issues for the business’ owners. Funding from BFS will provide working capital for operating expenses and to fund payroll. This will allow the company to continue meeting the unique needs of their customers.

It also provided:

  • $1.5 million in funding for an Atlanta-based apparel company using ethical manufacturing practices to produce athletic and lifestyle products for its customers and with the ability to create licensed products for sports teams. The company is rapidly growing with new customers and with current customer requests for more products. The owners will use this funding line to increase inventory and supplies, to fund payroll for their growing staff and to have liquidity for operational changes and expenses.
  • $1.25 million to the U.S. subsidiary of a licensing promotional product wholesaler/distributor headquartered in the UK. The client needed additional working capital to provide liquidity that would support the business’ US operations. Their biggest challenge is seasonality, as the business experiences an increase in requests for merchandise before film and video game promotions, then order requests slow down the months after release. This rapidly growing company will use the funding provided by BFS to expand its sales team with the expectation of increasing generated sales. 
  • $250,000 in funding to a new startup company with principal owners that have several years of experience in the trucking sector. Already familiar with factoring, their focus was on finding the right funder for their business. With BFS, they were able to consolidate several debtors with varying quick payment options and run all accounts receivable through BFS for processing and funding. The company can now focus on increasing their freight volume and adding capacity by way of additional owner-operators. The result has been steady and quick growth with a seamless infusion of cash flow and great customer service.




Week's News



Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.