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.

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