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.
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