Bibby Financial Services (BFS) provided $2 million in funding to a manufacturing company based in Ohio. The company manufacturers desulfation products that extend the life of vehicle batteries. Self-funded since its inception in 2015, the company landed a large ongoing contract with a tier-one supplier located in Sweden and needed external financing. Finding a lender proved challenging as the largest customer was foreign. The client received a quick decision from BFS on a $2M ABL facility and is now in a position to keep up with its growth plans to expand.

Separately, BFS extended $750,000 to an Indiana staffing company. This staffing business provides supervisor level positions for the construction and maintenance of wind turbines. Their customers are primarily large Blue Chip companies working on extended payment terms. Until recently, the company was funded by its parent company in the UK. As they finalized a few large contracts that put them on a quick growth trajectory, they secured a factoring facility to keep up with payroll and purchase equipment.

Bibby Financial Services’ other recent deals included $1.85 million extended to a Canadian oilfield services company, $1 million in funding to US staffing companies, $500,000 in funding to Canadian transportation businesses, and $250,000 in funding to a New York wholesale/distribution company.