Factoring News, Trainings, Conferences, and Bibby Updates

Here’s a look at the latest factoring news including upcoming trainings, conferences, and updates from Bibby Financial.

Factoring Conferences

The International Factoring Association (IFA) finished up their 2012 conference April 18-21 in Huntington Beach, CA.  If you missed the event keep an eye on the factoring.org website for the the release of the conference cds.

They have also announced the IFA 2013 Factoring Conference April 24-27, 2013 at the Fontanebleau Hotel in Miami Beach Florida. Registration will be available mid October.

Factoring Trainings

There are several factoring trainings still available for 2012 from IFA.  One of these, The Small Factors Meeting, is moderated by Jeff Callender President of Dash Point Financial.  Jeff is also the author of How I Run My One Man Factoring Company and the Small Factor eBook Series.  Starting as a factoring broker in 1994, Jeff now owns his own factoring company and shares his knowledge with others interested in the factoring business as a broker or investor.

This training is being held October 25-26th in Las Vegas NV and will also be moderated by Ryan Jaskiewicz, the founder and President of 12five Capital. The workshop is designed to give small factors a forum to discuss and learn with emphasis on round table discussion, networking and education.

Factoring News From Bibby Financial

Bibby Financial Services has announced several news worthy items in April.  The following excerpts were taken from the formal press releases.  Please visit the Bibby Financial website to read the full version of the articles.

Bibby Financial Services Provides a Group of Businesses With $3 Million Factoring Facility

TORONTO — (Marketwire) — 04/10/2012 — Bibby Financial Services said today that it has funded an Ontario, Canada-based temporary staffing company that provides staffing solutions across the light industrial and financial services sectors.

The company already has two operating units that are current clients of Bibby Financial Services. This latest addition will use the increased cash flow to stay ahead of payroll expenses — a major concern for any staffing firm.

“Factoring is a smart choice for staffing companies due the pressure of meeting weekly or monthly payrolls,” said Bob Lall, Managing Director, Bibby Financial Services (Canada). “A staffing company might have 30-day terms for payment while its temporary employees expect weekly payroll checks. Factoring bridges the gap between invoicing and receiving payments. With increased cash flow and a factor following up on invoices for its clients, a staffing company has the time and working capital it needs to take on new business.”

They have also announced a new promotion in Canada.

Bibby Financial Services Names Hardy Kang Canadian Head of Sales

TORONTO — (Marketwire) — 04/16/2012 — Bibby Financial Services announced today Hardy Kang has been promoted to Head of Sales, Canada. In his new role, Kang will develop and lead the Canadian region’s sales team while continuing to take on new business and provide small and medium-sized companies with flexible cash flow solutions. He will report directly to Bob Lall, Managing Director.

Bibby Financial is a worldwide market leader in business cash flow solutions to small and medium-sized companies. With offices in eight North American cities and 14 countries around the world, its product portfolio includes accounts receivables finance, factoring, export finance, purchase order finance,  and specialist solutions for the staffing and trucking sectors. They are also one of the factors listed in the 2012 Factoring Company Directory.

Receivable Funding Benefits Small Business

CHICAGO (BUSINESS WIRE) — Bibby Financial Services recently provided a $2 million credit facility to a produce company in Northern California. The company buys and sells strawberry plants to growers in California, Florida, and Mexico.

In addition, Bibby Financial Services extended a $1 million credit facility to a transportation and logistics company with many fleets and locations throughout the western United States. The company plans to use the funds to meet payroll for independent contractors hired to execute deliveries and service local accounts.

Nick Hart, CEO, Bibby Financial Services (CA), states, As we see traditional funding facilities continuing to tighten up on credit, it is important that businesses have the finance available to grow their business. At Bibby Financial Services, our receivables based funding lines are able to give these businesses the working capital they need to expand. Hart continues, We have a proven, 200-year old successful record of assisting companies through all types of economic conditions, by providing the necessary cash flow to help them expand and prosper.

Bibby Financial Services doubled its clients and volumes in 2007 and exceeded expected growth levels in 2008.

For more information including the full press release visit Bibby Financial Services or (BUSINESS WIRE) online.

Bibby Financial Services Funds $1.25 Million

TORONTO, Mar 05, 2009 (BUSINESS WIRE) — Bibby Financial Services recently provided a $1.25 million funding facility to an Ontario-based transportation company. The funds were used to pay out the company’s loan facility with a major Canadian chartered bank and provide it with working capital after the bank had placed it into a special loans unit due to the company’s losses. Bibby Financial Services was able to work with those bankers to complete the transaction and provide the client with the cash it needed to continue to operate, meet its obligations and manage its growth.

“It is important now more than ever that Canadian businesses receive the financial resources they need to continue to grow,” said Kevin Westfall, VP Operations, Bibby Financial Services. “As a financier that focuses on providing working capital for small to medium sized businesses we give our clients access to the funding facilities they need to seize the moment and take advantage of the many business opportunities that remain in play.”

Bibby Financial Services is a worldwide market leading specialist of business cash flow solutions to small and medium-sized enterprises. Its product portfolio includes receivable finance, factoring, export finance, purchase order finance and specialist solutions for staffing and trucking sectors. Its North American offices are located in Toronto, Atlanta, Chicago, Dallas, Houston, Los Angeles, Nashville, Phoenix, and West Palm Beach, as well as 27 other countries around the world. Bibby Financial Services is a subsidiary of The Bibby Line Group, a 200 year-old privately held company based in the United Kingdom, that provides business-to business services to a variety of industries including shipping, distribution, offshore oil field services, financial services, retail and employment law.

For more information on Bibby Financial Services, visit: www.bibbyusa.com