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 … [Read more...]
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 … [Read more...]