Bibby Financial Services Canada provided Bump Creative Partners with flexible capital needed to quickly source promotional products for large retail stores in North America and pay overseas suppliers. Bump Creative sources fashionable and on-trend products globally to provide retailers with top-notch promotional, seasonal and packaged products for creative “gift-with-purchase” merchandising, sales incentives and end-cap display products.
At the beginning of the relationship, Bump Creative took advantage of purchase order financing from Bibby Financial Services, which freed up the funding needed for supplier deposits. However, the company also faced the challenge of extended customer payment terms of 40 days or longer, leaving it short on liquid assets. The flexible solution provided by Bibby Financial Services to help close that gap was traditional invoice factoring. “What I appreciated the most was Bibby's view of lending as more of a partnership. They worked with us to ensure that our company had the capital it needed to grow,” says Bump Creative President & CEO Matthew MacDonald. “It was a great solution for us, as our growth trajectory was high and we needed a financing partner that could handle the growth and help us to stay competitive. Their team worked hard to assist us in achieving our goals.”
Bump Creative is now able to obtain a traditional bank loan, in part due to the help of Bibby Financial Services.
“We view Bump’s exit as a true success story and testimony to the value of having a financing partner that supports growth,” says Leigh Lones, Bibby Financial Services CEO, Americas.
The case study can be viewed in its entirety here.
Bibby Financial Services, a worldwide market leader in business financing solutions, supports businesses of all sizes in virtually every industry with flexible, customized funding 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. Bibby Financial Services is proud to have helped more than 8,900 clients grow their businesses by providing more than $1 billion in funding across the globe. It operates offices in seven North American cities and 16 countries. Bibby Financial Services is a subsidiary of The Bibby Line Group, a privately held company established in the United Kingdom in 1807.