Accounts Receivable Financing
This works by Bibby purchasing your receivables and advancing you up to 90% of the verified invoice value as per the agreement established between us. We can structure these transactions in two ways:
- Discount Pricing This is where you have the advantage of a fixed percentage pricing for a certain period of time of the receivables remaining unpaid. In times of changing rates, this gives you the advantage of certainty over the costs of your facility.
- Availability Pricing You will have a one-time administration fee charged on your receivables to reflect the service we provide, and then a prime plus a set percentage rate charge to the funds you use. This gives you the advantage of being charged only for what you use. So, if there are times when you do not need to fully use your facility, you will save significant amounts in fees. Few of our competitors offer this alternative pricing.
Our client service team is dedicated to only servicing receivables. We are experienced not only in your needs but also in how to deal with your clients' needs in a professional and courteous manner. As part of our Receivables Funding Program you will receive:
- Funding within 24 hours
- Dedicated, professional account executives operating a collection service for you. Last year Bibby Financial Services collected over $9 billion in accounts receivables for over 7,000 clients.
- Free credit checks of your clients
- Management – Issuing statements, verification and collection calls
- Online Access to your facility with full reporting
- Imaging – Online access to images of remittances / checks received from your clients
- Credit Insurance – If required, we can give you competitive pricing for credit insurance
Why Do So Many Companies Choose Bibby Financial Services?
Full Service Regional Businesses Are you based on the East Coast being serviced by a business in Salt Lake City? Or a business in Denver being serviced out of Orlando? Fed up with the delays with mail and lock boxes and the difficulties with contacting decision makers or your Account Manager? We understand this. Our growth comes from our unique business model in the receivables funding industry: autonomous, regional-based businesses. Each contains client service staff, underwriting staff, cash management with local lock boxes, new business teams who understand the local market and, most importantly, their own local executive team. Tired of finding out that offices are one person and a phone? Our regional businesses, based throughout the United States in Canada, are the only contact for your business. Everything to do with your relationship with Bibby Financial Services will be managed from that office.
- Fast Funding You will receive funds to your bank account within 24 hours of receipt of your verified receivables. For initial fundings on new facilities, we expect to have you funded within 3 to 7 business days of receiving your application and supporting documentation, depending on the size of your business.
- Competitive Rates Everyone refers to their rates as being competitive. We mean it. We typically save our clients at least 20% in fees over their existing receivables funder, often much more. Why? When you fund over $9 billion in receivables a year, you have economies of scale you can pass onto your clients.
- Stability & Openness We are proud to be a member of the Bibby Line Group, which in 2007 celebrated its 200th anniversary. We are financially stable, and open with our information. Want proof? Ask for our parent company's annual report and we will happily provide it. Ask our competitors for their audited balance sheet... surely a funding provider will be willing to show you their financial strength?
What Next?
If you would like to speak with one of our Accounts Receivable Funding specialists simply complete our contact form. You can also call us at 877-88-BIBBY (877-882-4229), email us at sales@bibbyusa.com or reqest a call back above.
